More and more households have been installing solar power systems due to their increased efficiency in cost and performance. Installing a solar photovoltaic PV system at your home means you’re ready to make a long-term investment toward independence in terms of your energy needs.
Your solar panel pays for itself in the long run, depending on certain factors, including the PV systems age, size and array tilt orientation, your location, availability of solar performance-based incentives, and electricity costs in your area.
Rooftop solar panels capture direct sunlight, minimize heat transfer in your attic, and utilize solar energy to produce electricity for the entire home. Harnessing solar power for electricity generation and use can also be the best way to enhance your residential property’s value and decrease your utility bills.
For most homeowners, their house is their biggest asset, and maintaining and upgrading it is vital to ensuring their home holds its value. Installing a residential solar panel system can significantly help you decrease your electricity bills and improve your home market value.
Will Solar Panels Add Value To My Home?
The total amount of value a solar panel installation will add to your home will largely depend on various factors. An experienced local solar energy contractor can help you determine if your residential property is the right choice for solar installation, your roof orientation, roof shingle material, and shape.
Now, we will discuss some significant factors that will increase your homes value significantly:
Your Home Location
Installing a solar panel system in active solar markets will yield higher yields than in developed markets. An active solar market is that part of a country that receives ample sunlight, has an increased solar installation rate, and possesses local government solar incentives such as energy rebates and property tax exemptions.
The most active Canadian solar markets include Ontario, Nova Scotia, British Columbia, Alberta, Saskatchewan, Manitoba, and more. With constant improvements in solar technologies, more and more Canadian homes are having solar panels installed. Some solar systems can also operate efficiently during cloudy weather.
Your Solar Panel Size
Your home value increase is directly related to the quantity and capacity of the solar panels installed at your home. If you want your solar installation to improve your home value, your solar panel size must be proportional to your overall home size. This means that the larger your home size is, the greater the solar panels you will need to install.
Owning Or Leasing Your Solar Panel
Deciding between owning and leasing the solar panel installed on your home is also an important consideration that can help you increase your home’s value. Modern solar power systems are increasingly efficient and deliver long-term performance without requiring much maintenance.
Owning these solar panels can significantly enhance your home’s value as they will be vital in decreasing your energy bills for a long time in the future and reduce your carbon footprint. If you lease your solar panels, you can still show potential home buyers the amount of money they can save using these solar systems and possibly negotiate to add your leased solar panels to the overall home’s cost.
Dandelion Renewables provides highly efficient and environment-friendly solar power solutions to its residential clients across British Columbia, Alberta, and Saskatchewan. Check out some of our expert solar power services in detail or contact us for customized care.