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A lot of homeowners are wondering if green features like solar panels increase the value of their home.
Solar panels on your roof are common green features. Hot water heaters are too, but it doesn’t end there. Things like sustainability, a house that uses recycled materials, and anything that conserves water or energy are also considered green features. If you already have these features installed in your home, or you’re thinking about investing in them, here are a few statistics to consider.
Solar panels on your roof are common green features. Hot water heaters are too, but it doesn’t end there. Things like sustainability, a house that uses recycled materials, and anything that conserves water or energy are also considered green features. If you already have these features installed in your home, or you’re thinking about investing in them, here are a few statistics to consider.
Solar systems increase the value of your home by $3 per installed watt. Most houses have a 6,000 watt system. That usually costs $25,000 before any incentive you might receive. However, with solar energy, you’ll experience an $18,000 increase in your home’s value.
Another study by the University of California at Berkeley studied 1.6 million home sales during a 5-year span. They examined homes that were designated as green or energy efficient. Energy efficient homes were found to sell for 9% more compared to those without green features.
Keep in mind boosting home value means more than just adding on green features. Additionally, it’s only been five years since these features have been available in single-family homes. There isn’t much hard data out because this kind of thing is so new. One thing’s for sure, though; anytime you can improve the overall cost of homeownership, it will add value and marketability. As energy costs continue to rise, energy efficiency will appeal to more buyers.
If you’re thinking about buying or a selling a Tucson home, give me a call or send me an email. I’d be happy to answer any questions about this topic and more!
