Solar Equipped Homes Consistently Sell Quicker And For More Money
The U.S. Department of Energy’s Lawrence Berkeley National Laboratory, released a study to see if having solar panels on your home makes any difference in the resale value, as well as time on the market.
After analyzing the sales of approximately 4,000 homes with solar panels across eight different states from 2002 to 2013, they found that solar homes consistently sell quicker and for more money than homes that are not solar. By how much? About $4.18 per watt of solar installed or roughly $15,000 for an average-sized system of 3.6kW.
The premium was consistent despite numerous variables and varying markets during the time frame studied which included the pre-2009 housing bubble, subsequent crash, and ongoing recovery.
Thus far, there is not an equivalent study in Canada, but we can be sure that the same principle applies here – with lower operating costs into perpetuity in comparison to the same or similar home without solar, solar increases the value of your home and makes it more attractive and easier to sell.