Solar companies will tell you that solar will increase the value of your home. Many will show you a link to a reputable website like Berkeley Lab to show proof. There is information backing up that solar can increase home value. There are a few things to understand so you have proper expectations when it comes to increasing value in the home.
Let’s start with the appraisal process. The current challenge is that appraisers, mortgage brokers and real estate agents have to be up to date with their education on solar and the home values that it may bring to the table. There are plenty of agents or brokers that do not put the effort into understanding solar, so be sure to deal with someone who understands it. You can always ask us and we can connect you with someone who does. The challenge for appraisers is that they need something to compare home with solar to so they can have a proper appraisal done. If there are limited to no options with solar in the area, it’s hard for them to give the expected additional value to the home when it comes to selling it with solar.
It’s always hard to predict what the future will bring. Will someone in the neighborhood need to sell their home fast and unload for way under value and will that affect your home? One never knows.
Solar isn’t as popular as a pool or some other addition to the property, so it’s harder to find the numbers that a solar addition can bring. There is a chance that you may not get what you are or were led to be expecting when it comes to selling the home.
Can solar increase the value, it sure can but be cautious with expectations and know that there is a chance you may not get the extra amount in value that you expected.
The good news is, solar keeps growing daily as it becomes more mainstream.