Solar panels can significantly impact the speed at which homes sell by generally reducing the time on the market. Here are some key findings:
- Faster Sales: Studies have shown that homes with solar panels tend to sell faster. For instance, a National Renewable Energy Laboratory (NREL) study found that solar homes sell 20% faster than those without solar systems. More recent data from Rocket Homes for 2021 indicates that homes with solar panels spent 13.3% less time on the market compared to homes without solar.
- Regional Variations: The impact can vary by region and market conditions. While some areas see faster sales, others may not experience as significant an effect. For example, Zillow research suggests that solar homes may sell only marginally slower by about 2 days on average.
- Buyer Preferences: The increased demand for energy-efficient and eco-friendly homes contributes to the faster sales of solar-equipped properties. Many buyers are attracted to the long-term savings and environmental benefits of solar power, increasing interest in these homes.
Overall, solar panels can be a strong selling point, especially in markets where energy efficiency and sustainability are highly valued. However, the exact impact may depend on local housing market dynamics and buyer preferences.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/how-do-solar-panels-impact-the-speed-at-which-homes-sell/
