How much value do solar panels add to a home?

Asked by Brenda Connolly, Avon by the Sea, NJ Fri Oct 5, 2012

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7
Ron Thomas, Agent, Fresno, CA
Fri Oct 5, 2012
This is probably becoming more, and more of a factor as homeowners realize a savings on their energy bills:

However, at this time; it is like asking how much value a GAS range adds to the house, or a remodeled Kitchen:
Some buyer will perceive the added vale, and others will not.

If the house needs a lot of repair and has poor curb appeal; the Solar Panels will not sway anyone.
If the house has been refurbished, upgraded Kitchen and baths, hardwood floors, fantastic curb appeal, AND solar power; then it will command a premium price.
1 vote
kacejohnson5, Home Buyer, American Fork, UT
Thu Jan 24, 2013
My friend told me to go to http://www.solarsystemsusa.net to find solar panel kits. Has anyone gone here before? What have your experiences been?
0 votes
Francesca Pa…, Agent, Manasquan, NJ
Sat Nov 10, 2012
Similiar to the value of the full commission owed on 568 central or that of the million dollar lot in OG.

Sincerely,
Francesca Patrizio, ePro, SRES
Francesca@PatrizioRE.com
732.606.2931
0 votes
Andrew Tisel…, Agent, Clifton, NJ
Fri Oct 5, 2012
Hey I am only trying to help you
I did not ask if it was facing north or south but front of the home where some buyers will see it as less curb appealing or back of the house where most won't notice it.

The question you need to answer is how much energy is it saving(what is the avg monthly savings in electricity). Is the system paid in full or is it a lease being transferred to the new buyer.

I would be interested to know the peoples reactions once you list and the how the buyers feel about it.
0 votes
Christopher…, Agent, Tarrytown, NY
Fri Oct 5, 2012
Hi, /It's hard to put a specific value on solar panels. They definitely add value, especially to energy conscious buyers. Since the cost is high to install them it will take many years to recoup.
0 votes
Brenda Conno…, Agent, Avon by the Sea, NJ
Fri Oct 5, 2012
Hello! They are on the roof facing south. I am working on a CMA and never had a home before with solar panels... thank you.
0 votes
Andrew Tisel…, Agent, Clifton, NJ
Fri Oct 5, 2012
There is not enough data to come up with a number.
Also we would need more info about the Solar panels
Where are they on the ground, front roof back roof?
how much Electric are they saving?
How long ago were they installed?
Is there a Solar lease to assume?

One could make an argument that for every $100 is like paying $100 less in tax per month so what is the difference in home 2 similar homes that have a difference of $1200 per year in tax.

I have Solar on my home I think it added a lot of value because it is a 2 family home all on one meter.

Best guesstamate is $5000 to $20,000 or more depending on amount of electrical savings and price range of home.
0 votes
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