Solar energy adds tremendous value; your home will become a source of power generation for the next 25+ years, and will provide tens of thousands in savings. The National Renewable Energy Laboratory offers a useful guide when determining how much your property’s value will go up. According to its research, each additional $1 in solar energy bill savings adds $20 to your home’s total value.
This rule of thumb varies depending on a number of factors, including:
- The location of your home. Installations in active solar markets like Maryland typically yield higher returns than comparable installations in less developed markets.
- The size of your installation. Property value increases are directly proportional to the number (and quality) of solar PV panels installed.