How Solar Panels Can Increase The Value of Your Home

Going Green + Saving Money On Your Electric Bill = Increased Home Value.

According to the US Department of Housing and Urban Development your home’s value rises $20,000 for every $1000 in reduced yearly electricity cost.

So, it's math time! Let’s say you have APS install a 4.6KW solar system that costs you $12,769 after all of the state rebates and tax credits and financing charges. For illustration purposes let’s also assume the system will reduce your $100/month average electric bill to an average of $12/month, saving you $88.00 per month. So what are your benefits to your home’s value?

• First of all, you can brag about the buyer having a $12/month electric bill. That should be attractive.
• Per the Department of Energy, you’ll see an increased home value of $88 x 12 = $1056/year electric savings, which equals a little more than $20,000 added to your home value! Cool! But there’s more:
• In New York, by law, the State tax assessor can’t raise the value of your home based on a solar energy improvement for a period of 15 years. So that’s more money saved while you’re in the home.

• If you’ve financed financed through a home equity loan, you get to write off the loan’s mortgage interest.