Solar panels are an excellent long-term investment for any home. They allow homeowners to save a lot of money on electricity bills over time.
But there are always people who don't stay in one place for a very long time or are thinking of moving soon.
Many such homeowners would like to install solar panels at home but are afraid that, since they might be moving in the near future, they won't get a proper return on investment for their panels.
If that's your case, there is no need to worry. With solar installed, you'll be able to sell your house faster, with more incentives, and for a higher profit.
1. Profit
As we all know, any kind of home improvement work (like plumbing or roofing) will increase the sale value of a property.
Therefore, when you add solar panels to your house, its value will immediately go up.
There are plenty of studies out there proving this, and more are coming out every day.
What's especially great is that, many times, the amount of value added to the house by the solar panels ends up being greater than the actual installation cost of the panels.
This means that solar panels always end up being a profitable investment, whether or not you decide to stay in a house for long.
2. Speed
Solar homes don't just sell for more money: they also sell much faster. This has been known for a while, and is still the case today.
This makes perfect sense because, nowadays, practically all homebuyers prioritize energy efficiency when choosing what house to buy.
And, although there are more and more solar homes on the market, they're still a small part of all homes on sale, and therefore panels will make a house stand out in any home listing.
But the fact that solar homes sell faster also means that the home seller will save even more money.
That's because, the faster they sell their home, the less money they'll spend on storage and transportation (of his furniture over to the new house).
Moreover, the less time it takes to sell your home, the less likely you are to de-list it, or to settle for a lower sale value.
3. Incentives
Finally, if you sell a house with solar, you'll be able to enjoy Federal incentives that you otherwise wouldn't.
In most states, solar home sales benefit from property tax exemption.
The exact exemption amount varies from state to state, but can go up to 100%.
In the case of a home without solar, increasing the resale value of a home also increases its property taxes; however, when you add solar panels to a house, you're increasing its value while at the same time reducing (or, in some states, even completely eliminating) its property taxes, thus further increasing your profit.
Aside from this, you can receive a Federal tax credit equal to 30% of the total installation cost.
This means that you'll make an even higher profit from selling your solar home.
As solar continues to become more and more popular, it also becomes easier and more profitable to sell solar homes.
Obviously, not every homebuyer specifically looks for a house with solar panels.
But those that do are willing to pay quite a lot more for it.
So whether you are planning on living where you're at for a long time, or on moving elsewhere soon; you can rest assured that solar panels are a useful and profitable investment, whether in the short-term or in the long-term.
Free Solar Texas' engineering team is comprised of experts in fields like solar energy, battery energy storage, EV charging and home efficiency.
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