If you have to relocate due to job or family circumstances, don’t worry. Your solar panels will increase the resale value of your house and prepare you to install a system on your new home!
Will Solar Increase the Resale Value of My Home if I Have to Move?
What if you heard that solar panels could increase the resale price of your home? In our solar learning center, we mention that going solar can save you money. We briefly explained in this FAQ that the addition of a solar energy system to your house can increase the resale value of the home by an average of $15,000. In the past, we only briefly touched on is why solar is desirable to potential buyers.
Solar on the roof attracts buyers
The past decade saw a change in the psychographics of buyers. In recent years, wildfires in Australia and the Amazon Rainforest, droughts in California, unsafe drinking water in Flint, MI, el niños, hurricanes, earthquakes, tsunamis and population extinction all occurred. Now, more than ever, people are concerned about the planet. A 2018 survey conducted by Pew Research Center found that climate change was cited as a top threat in half of the countries surveyed. Solar panels are one way that home-buyers can feel like they are doing their part to save the Earth.
Demographics have evolved along with the psychographics. The Pew Research Center also cited that women and the younger generations are more concerned about climate change than their counterparts. Per recent studies, these groups are also buying houses in greater numbers. In the past couple of decades, the number of single women purchasing a home has risen. It is predicted that studies in 2020 will find the Millennial generation taking out half of all mortgages. This means the home-buyer purchasing power is increasingly in the hands of those who are conscious of the importance of green lifestyles.
Solar is an increasingly attractive option to traditional forms of home energy because of the unpredictability of energy prices. In a capitalistic economy, prices depend on supply and demand. There are experts within the energy field whose job it is to predict the future supply and demand for companies. Recently, they have been getting the predictions wrong. This means that prices will be more unsteady and businesses will be more conservative in their ventures. If informed, potential buyers may find solar panels interesting because of the money it can save them in the long run.
To understand the true money-saving power of solar, check out this!
The past few decades have seen vast growth in electronic technology within households. There are refrigerators with screens, mirrors that display your notifications, and devices that control your lighting, heat and sound system. The trend shows that more and more people want these types of upgrades in their homes. With solar energy constantly improving, potential buyers may see the solar panels as a significant technological upgrade to a house.
So, what happens if you install a solar energy system on your house and then you get a fantastic job offer across the country? Is the investment lost? Absolutely not. You will be ready to buy your next system for your new home with the money you recouped from energy bill savings and the higher resale value of your home!
When you are ready to install that next system, contact Enlighten Energy and we will be eager to help you make a green investment in your home!