These days, it’s become trendy to save the world. Entrepreneurs in renewable energy initiatives are making an impact with their disruptive innovations, particularly with ideas that change the way we both work and live.
People are composting and growing gardens, reusable straws are experiencing a popularity boom, and everyone’s looking for ways to decrease their carbon footprint and make their lives more sustainable. One of the best ways you can do this is by installing solar panels.
Not only are solar panels a great way to embrace renewable energy in your home, but they can also help the real estate value. People love a home that can generate its own electricity, and they’re willing to pay for it.
Read on to learn more about how adding solar panels to your home can increase its value and what factors will affect that growth.
Location of Your Home
One of the big factors that impact how much solar panels will raise the value of your home is the location. Certain areas of the country have been more accepting of solar panel technology than others. If you install solar panels in one of those more active markets, you’re likely to see a bigger return on your investment.
Some of the most active solar panel markets in the United States are California, North Carolina, and Arizona. Nearly 17 percent of California’s power comes from solar, and North Carolina has more than 8,000 installations. Other solar panel giants include Nevada, Texas, New Jersey, Massachusetts, and Florida.
Size of Your Home
The size of your home can impact how much of a return you get on your solar panel investment. You might think that because larger homes mean more cost of solar panel installation, you’ll get less value added to your home. But in fact, the opposite is the case.
The larger your home is and the more solar panels you install, the greater the increase you’ll see in your home’s value. Solar panels are a renewable energy investment that pays for itself in the long run. If you’re willing to pay the up-front costs to get them installed, you can reap the rewards for the rest of the time you live in the house and when you sell it.
Value of Your Home
One factor that will affect the percentage of your home value increase is the value of your home before the solar panels. As we said, larger homes experience a greater increase in value with solar panel installations. So rest assured that no matter the original value of your home, you will get an awesome return on your investment.
But with homes with a higher value, the increase in value will represent a smaller percentage of your home’s value. So while you will earn more money back off your solar panels, you’re likely to see a smaller percentage increase.
Learn More About How Solar Panels Impact Your Home Value
Solar panels are a great investment in both the environment and your home. There are some factors that go into how much of an increase you’ll experience, but the facts are the same across the board. No matter whether you live in a mansion or a molehill, solar panels are a smart investment.
If you’d like to learn about more ways to make an impact on your world, check out the rest of our site at The Startup Mag. We have advice for people launching their own startups and all the latest on everything from marketing to store branding.