Solar panels generally have a positive effect on the speed of selling a home, although the impact can vary. Here are some key points to consider:
- Generally Faster Sales: Some studies indicate that homes with solar panels sell faster than those without. For instance, data from Rocket Homes shows that homes with solar panels spent 13.3% less time on the market compared to those without solar power, highlighting their appeal to environmentally conscious and cost-aware buyers.
- Marginal Impact in Some Cases: However, not all data points in the same direction. According to Zillow research, homes with solar panels sell marginally slower by about 2 days on average compared to those without, though they sell for a premium.
- Marketing Advantage: Solar panels can be a significant marketing advantage, attracting buyers interested in energy efficiency and sustainability. Highlighting the long-term cost savings and environmental benefits of solar panels can increase the appeal of the property.
- Regional and Market Variations: The impact of solar panels on home sales can vary based on regional energy costs, environmental awareness, and local demand for green features. In areas where solar is common or highly valued, homes with solar panels are likely to sell faster.
Overall, while solar panels can help a home sell faster in many cases, the speed of sale also depends on how well the benefits of solar are communicated to potential buyers and the specific local market conditions.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/how-do-solar-panels-affect-the-speed-of-selling-a-home/
