Solar Increases Home Value
Going solar can increase your home value and help your home sell faster.
A residential solar system is a great investment for your home. Not only do solar panels increase the resale value of both new and old homes, but they can also help homes sell faster.
Solar Panels Increase Home Resale Value
Lawrence Berkeley National Laboratory Study
A new study released in April 2011 by the Lawrence Berkeley National Laboratory found that solar boosts the resale value of both new and old homes.
Researchers compared the prices of about 2,000 solar homes sold in California between 2000 and 2009 to those of 70,000 comparable homes without solar panels.
- On average, a home solar system added about $5.50 per watt to a home's resale value. (A 3.1-kilowatt solar system can add around $17,000 to the home's value).
- On existing homes, solar panels increased resale value by more than $6 per watt.
- On new homes with solar pre-installed, solar panels increased resale value by around $2.30 to $2.60 per watt to the sale price.
ICF Consulting Study
Another study by ICF Consulting found that saving $1,000 per year on energy costs can add $20,000 to a home's resale value. Because energy savings increase as electricity prices rise, the value of a residential solar system also appreciates over time.
Solar Panels Help Homes Sell Faster
According to the U.S. Department of Energy's Office of Energy Efficiency & Renewable Energy, a solar home will sell twice as fast as a home without solar panels – even in depressed markets.
Shea Homes Case Study
According to Shea Homes, the home resale value of California solar homes increased 55% while the home value of non-solar homes increased 45% during the same time period.
Lennar Homes Case Study
Lennar Homes and their partner SunPower demonstrated that home resale value of solar homes increase more quickly than non solar homes in early 2007. "Within eight communities that had homes without solar in Rocklin, CA, an average of 1.9 homes sold each month compared to a ninth community with solar homes which sold an average of 4.6 homes per month over the same time period."
New Home Development
New homebuilders are recognizing the importance of reducing energy costs and starting to put solar panels on new homes.
SunRun and Toll Brothers partnership
SunRun is partners with Toll Brothers, the nation's leading builder of luxury homes, and PetersenDean, one of SunRun's trusted installer partners, to bring renewable energy to new homes at The Preserve in Vista Del Verde and the Pinnacle at Moorpark Highlands at no additional cost to homeowners. New homeowners simply pay a flat rate for the solar electricity, which offsets a portion of the power they would typically get from their utility company. Learn more about our Toll Brothers partnership.
In another development in the San Francisco Bay area, all 257 homes with solar panels sold within a year of being put on the market – 2 years faster than planned. In addition, solar homes originally priced at $379,000-$499,000 had a home resale value for as much as $600,000. Read SunRun's solar home value report.
Get a Free Solar Quote
Find out in 10 minutes if your home is right for solar. No obligation.
SunRun Advantage
Learn why SunRun is the leading home solar company in the U.S.