Can Solar Panels Improve Your Home's Value? An FAQ for Home Owners

Posted by Justin Havre on Tuesday, April 17th, 2018 at 10:17am.

What You Need to Know About Solar PanelsSolar panels are becoming increasingly popular because they help homeowners save money and also help homeowners reduce their home's carbon footprint. Despite this rising popularity, many homeowners are unaware of the benefits of solar panels and are uncertain about how solar panels work. This FAQ can help answer homeowner questions about solar panels.

Can Solar Panels Increase a Home's Value?

Studies show that property values increase by as much as $6,000 for every 1 kW installed. This increase in value can add up to 3 or 4 percent to the value of the home. Modern solar panels tend to be more valuable than older solar panels, because they do degrade somewhat with time. This can add up as much as an additional 3 or 4 percent to the value of a property.

The increase in value will depend on a variety of factors including the local demand for solar panels, the number of solar panels installed on the house and the value of the home. Large installations on valuable homes tend to add more money to the value of the home than smaller installations on less valuable homes.

Solar panels are more desirable in certain markets than others. In cities where buyers are more interested in environmental issues, solar panels are more valuable when selling a home. Solar panels may also increase in value depending on the amount of power that the panels are predicted to produce.

In addition to improving a home's value, solar panels also help properties sell more quickly. Many home buyers are environmentally conscious and actively seek out green properties. Solar panels can draw buyers who are seeking ways to reduce utility bills, save energy and help the environment.

Homeowners who are especially concerned about increasing their home's value through solar panels should talk to an experienced real estate agent. A good real estate professional can help a homeowner to determine what they can do to increase the value of their home through green improvements like solar panel installation.

How Much Power is Generated By Solar Panels?

The amount of power that solar panels can generate will depend on the size of the home, the demand for power, the number of panels that are installed on the roof and how much sunlight the panels are exposed to on a daily basis. Solar panels are usually installed on the southern or western side to maximize sun exposure. Small obstructions in the landscape can have an impact on the amount of power that the solar panels are able to generate. A tall tree, flag pole, or a neighboring building can all reduce the amount of power that solar panels produce.

Because a solar pane's effectiveness is negatively impacted by shade of any kind (not to mention darkness at night), solar panels do not usually generate all of a home's power. A typical solar panel system installed on a house can supply between 20 percent and 50 percent of a home's power.

Homeowners who want to know how much power their solar panel system will be able to generate must first talk to a reputable solar panel contractor expert in their area. A consultation with the experts can help homeowners determine how much power their system will generate and what they can do to maximize their productivity.

How Can Homeowners Begin Solar Panel Installation?

To get started with a solar panel installation, a homeowner must first contact a reputable solar panel installation company. That company will come out to the house, gauge the home's power needs and measure the home's roof. The solar panel company will then determine the best solar panel configuration based on the information collected. Representatives from the company will also discuss payment options and price, and answer any homeowner questions.

Homeowners should talk to multiple companies to get quotes from each company. This will help the homeowner to decide which company is best for his or her needs. It's important to remember that price is not the only factor to consider when trying to pick a solar panel company. Reputation, company longevity and customer reviews are all factors that homeowners must look into when trying to decide which company to use.

Once a West Kelowna Estates homeowner has decided on a company, they will need to sign a contract, then the solar panels must be assembled and installation scheduled. All in all, it can take several months from start to finish before solar panels are finally put into place. Homeowners who put in the time to find a company that will work well for his or her needs may find the solar panel installation process to be more satisfying.

Justin Havre

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