Solar panels are good for the environment, but are they good for the value of your home? A new study suggests the answer is yes — although whether it’s enough to actually cover the cost of the panels depends on where you live.
Americans are investing in solar power, installing enough systems to power 12.3 million homes in 2018, according to the Solar Energy Industries Association, a trade group. But whether or not those solar panels pay off depends on a lot of factors, from the cost of electricity in your area to the shape of your roof. One of those factors: their impact on your home’s value.
On average, solar panels raise a home’s value by 4.1% across the U.S., according to a new Zillow analysis of homes across the country— that’s a boost of $9,274 on a $226,300 home, according to the study. [click for article]