Homes with Solar Panels Sell Faster!
Solar producing and solar ready homes are the in thing. Real estate listings now note “Solar Ready”, “Great South Facing Roof”, and “Solar Powered System” as a highlighted attractive feature when describing homes for sale. Over 1.3 million homes in the United States now have a rooftop home solar energy system, with a cumulative capacity of over 40 gigawatts and growing. While the popularity of purchasing a home with solar PV was noted as early as 2006 by the National Renewable Energy Laboratory, NREL since reports solar homes sell 20% faster and for 17% more than the asking price.
As part of the buying and selling experience, home sellers share with buyers enthusiasm about their own solar energy production and lowered electricity costs. In Minnesota solar energy customers are allowed to offset up to 120% of all home energy usage [the savings can be quite substantial with Net Metering allowing excess electricity production to be carried over to later electricity needs as a credit on the properties electricity bill]. When purchasing a home with a solar energy system buyers know the energy production history of the system and can therefore calculate future utility savings when comparing properties. Furthermore, solar energy systems increase property values and are actually property tax exempt in Minnesota, unlike other home improvements. Another win!
Real Estate Industry trends reflect the future is bright for the resale of homes that are solar ready or have an existing solar array. Especially as younger families with children look to the future and are supportive of green living and caring for the environment. Today’s families are better educated about clean energy and steps they can take to reduce their carbon footprint.
To visit solar powered sustainable homes in the Twin Cities area check out the October Sustainable Home Tour by the Minnesota Renewable Energy Society https://www.mnrenewables.org/sustainable-home-tour/and the April Minneapolis St. Paul Home Tour with green/solar category http://www.msphometour.com/.
Give us a call at TruNorth Solar anytime at 612.888.9599 or www.TruNorthSolar.com and our Solar Consultants will gladly talk with you about the resale benefits of home solar!
And Remember, Money Isn’t All that You’re Saving!