Profile picture for Jason S

Does adding a solar electric system to power the entire house increase the home value?

  • September 19 2009 - Frederick
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Answers (6)

Best Answer

Profile picture for agentblu15
all depends on the buyer--  some people will view it as a great feature that may save them money and be good for the environment, and will be willing to pay a premium price for it.  Others may see it as a nice bonus feature, which may increase desireability, but not something they're willing to pay extra for. Still others will see it as a negative-  an "unknown" technology (its still very new to most folks) that has high potential upkeep costs, and which is still relatively unproven long-term.  For those people, not only will they not pay extra, but it may scare them away from the house alltogether.

When marketing a feature like this, try to compile and have available as much statistical data as possible regarding energy savings, maintenance costs, tax credits, etc. , that you can offer to potential byers to help educate them and emphasize the potential benefits.
  • December 21 2009
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The best thing you can do is collect your bills for a year before you had the system installed. Then collect your electic bills for the last 12 months. Do a comparison on a spreadsheet and have that available for propsective buyers. You can show them the numbers. Be sure to do totals for the year so you can show them the cost savings. Then you can translate that into how much they are saving on an average month. That "payment amount" can them be converted into how much money that would equal if they were to borrow that money and pay it back in 30 years at say 6% interest. That is the true value your system brings in terms of the added value to the property.

All that said, I doubt you can actually ask for that money when you list the property. More than likely it will be the determining factor as to why someone buys your house over another option.

Alex Saenger
Realtor & Internat Marketing Specialist
Serving Frederick County, Montgomery County & all of Maryland
  • January 10 2010
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i have to agree with agentblu15.
  • January 07 2010
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Solar energy will be the norm in the future.
With the right planing you can even profit from it by selling access electricity to your local electric company.
I am not sure if it will increase the value of the house.
In some areas of the country it will be an eye sore while in other parts
it will appreciated.
  • December 21 2009
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Profile picture for AlexShek
My company installs solar hot water systems and I know it saves homeowners money.

I agree with Leonardo, it increases desirability and value. Not being a real estate professional, it would be hard for me to quantify though.
  • September 21 2009
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Profile picture for The Leonardo Group
Hi Jason,

That is not an easy question but here are my 2 cents. We currently have a listing of a home with Solar Voltaic Panels. We have been advertising this home and getting a lot of traffic due to the fact that the owners pay around $110.00 a month for electrical bills and this is in the California Desert almost 3000 SqFt , 3 AC zones, Pool and spa pumps. In a sense we have nnoticed that buyers will gravitate to energy efficient homes therefore in my opinion tho it is hard to put a dollar value to it , it certainly increases its desirability and value.
Leonardo
  • September 20 2009
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