<img src=https://nenpower.com/wp-content/uploads/2025/04/image-278.webp alt=’How much can solar panels increase a home’s value’ />
Solar panels can significantly increase a home’s value, but the exact amount varies based on several factors, including the system’s size, efficiency, location, and local demand for green features. Here are some key findings:
- Average Increase: A Zillow study from 2019 found that homes with solar installations sold for about 4.1% more than those without them. However, a more recent SolarReviews study in 2024 reported an average increase of 6.8%.
- Per Kilowatt Value: The Lawrence Berkeley National Laboratory estimated that solar installations increase resale value by approximately $5,911 for each kilowatt of solar panels installed.
- Utility Savings Impact: The National Renewable Energy Laboratory noted that for every dollar saved on utility bills annually, home value can increase by about $20.
- Regional Variations: Increases can be higher in areas with a strong demand for green features. For example, in New York City, homes with solar panels sell for as much as 5.4% more.
- Example Increases:
- A 4 kW solar system could add approximately $23,644 in value.
- A 6 kW system might increase value by about $35,466.
- In some cases, like in Massachusetts, solar homes have sold for significantly higher premiums.
Overall, while solar panels offer long-term financial benefits and environmental advantages, their impact on home value is location-dependent and influenced by local market preferences.
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