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Will solar panels improve your home value?

Updated: Jun 28, 2023

solar panel home installation

Fair Market Appraisals

Hey there, Chicago! It's your friendly neighborhood appraiser, Fair Market Mike, and today I want to talk about an increasingly popular home upgrade that can have a big impact on your home's value: solar panels!

If you've been considering installing solar panels on your home, you're not alone. According to recent data, the number of U.S. homes with solar panels has skyrocketed in recent years, and for good reason. Solar panels can help you save money on your energy bills, reduce your carbon footprint, and even improve the value of your home. That's right - installing solar panels can actually increase the value of your home, and as an appraiser, I can tell you that this is not just some trendy myth. Studies have shown that homes with solar panels tend to sell for more than homes without, and that the value of those solar panels can actually appreciate over time. So how exactly do solar panels impact your home's value? Well, for starters, they can help you save money on your energy bills, which can be a big selling point for potential buyers. In addition, homes with solar panels are often seen as more environmentally friendly and energy efficient, which can be a big selling point in today's green-minded real estate market. But beyond just the financial considerations, solar panels can also add to your home's curb appeal and overall aesthetic. With so many different styles and designs to choose from, solar panels can be a stylish and functional addition to any home, and can help set your property apart from others on the market. Of course, as with any home improvement project, it's important to do your homework and make sure you're working with a reputable installer who can help you get the most out of your solar panel investment. And as an appraiser, I can tell you that it's important to keep detailed records and documentation of your solar panel installation, including information on the system's energy production, maintenance, and warranties. At the end of the day, installing solar panels can be a great way to improve your home's value, save money on your energy bills, and do your part for the environment. So if you're considering making the switch to solar, give me a call - Fair Market Mike, your friendly neighborhood appraiser and solar panel enthusiast! Until next time, keep shining, Chicago! Need an appraisal in Chicagoland? Let us show you how fast, easy and affordable it is to get you house appraised! Mike Illingworth

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