How does installing solar panels affect the resale value of a home?

16 06

This is a question that has been asked far too many times, considering both the real estate and solar energy system markets. The simple matter of fact is this: solar panels and solar energy systems in general tend to increase the resale value of the property where installed. It is largely based on the intrinsic value of not just the system itself, but also because this system will essentially keep the utilities cost down by a lot; this alone is a factor that affects the resale value of the property in positive manner. As for the why, that is dependent on a lot of factors, including solar panel installation and the solar panel system that has been installed.

While there have been concerns as to whether or not a solar energy system on the rooftop affects the resale value, the concerns, well frankly, are baseless. Additions on property, whether developed or undeveloped, tend to be gauged favourably when being appraised for sales; solar panel systems and solar energy systems are also viewed favourably as not only a means of energy generation and dependence off the grid, but the fact that perception of the property being well taken care of affects the resale value.

First, lets answer the question: does installing solar panels affect the resale value of a home, and then go on into the how's and whys.

Does installing a solar energy system affect the resale value of a home?

Yes, it does. It affects it incrementally. You see, properties with solar energy systems and solar panels are generally perceived across the globe as being ‘more valuable than properties without a proprietary solar energy system’. And Pakistan is no different than the rest of the world in this regard.

Considering the energy problems Pakistan goes through or has been going through for a good part of its existence, solar energy systems are a breath of fresh air and a way to depend less on the pesky grid and the equally pesky utility bills that seem to go up every year. As such, the mere sight of solar panels in Pakistan tends to be viewed favourably, and homes equipped with solar energy systems are subsequently appraised for a lot more than what they might have had without a solar energy system.

For an estimate, in the USA, for every dollar that the solar panels save the user, nearly twenty dollars are added to the estimate; thus, the more the property leans towards solar energy, the more well it will be appraised.

In Pakistan, similarly, prices for solar-equipped properties are far more than properties without it. Now, to answer the ‘how’ part of the question.

How does installing solar panels affect the resale value of a home?

Two words: perception and savings. Perception comes in at first because during the appraisal process, without the information about the solar energy system itself (off-grid, hybrid, how many watts etc), homeowners and real estate personnel tend to value a house higher based off the presence of the solar panels alone. This perception, that the home with solar panels is more valuable, connects directly to the second part.

Savings: It all hinges on savings. Solar panels in Pakistan are usually of good quality, and tend to be part of solar energy systems from the top solar companies in Islamabad, like Beacon Energy. In light of that, the savings potential is high; many potential buyers will pay the asking price solely because of the savings potential of the solar energy system alone. This is because the prospect of lower and lower utility bills and a decrease in the dependency on the grid is a lucrative enough idea for people to pay whatever is asked from the person selling the solar panel-equipped property.

Top solar panels and solar panel installation services in Pakistan

While there are a ton of solar companies in Pakistan, only a select few deserve the moniker of the top solar company in Pakistan. And when it comes to solar panel installation, the list gets even shorter. However, the best solar panels and solar panel installation services can be yours; Beacon Energy is a company that is consistently ranked as the best solar company in Pakistan, owing to its focus on innovation, customer service and a stringent aftersales service programme. With this company at the helm of solar panel installation on your premises, you can be sure that not only is the equipment top-notch, but the installation services themselves are the envy of others. Be sure to look them up when you want to go solar