Solar Panels and Property Value
Will having solar panels on my roof affect my property’s value?
The impact of having solar panels on the roof of your home or business is generally seen as a positive thing in the US. There is a caveat, however, and that is whether you choose to cash purchase or lease.
Solar Leasing and free solar
Cash purchase of solar panels is thought to add to the value of your property and there are varying estimates between $10,000 and $12,000 over the 25-year life of the array. However, if you are tied in to a lease style scheme for long periods of time (typically 20-25 years), this is probably going to affect the value of your property and whether the new buyer wants to take on the responsibility.
Research carried out by the United States Department of Energy suggests that PV panels can increase the value of properties in California by up to 4%, or by as much as $6.40 (£4) per watt installed.. A study by the National Bureau of Economic Research for installations in San Diego and Sacramento suggested that installation of solar panels added $20,194 to the sale price of a mid-range home.
For corporate interests, the presence of a PV system is likely to boost its corporate image which is why major outlets such as IKEA have engaged with this technology. The clients of businesses who choose to install a solar PV system are likely to appreciate environmental commitment that such a decision represents.