Solar panels are a great way to save money on your energy bills and reduce your carbon footprint. But if you’re thinking of installing, you may also be wondering if they might improve your home’s value.
The answer is yes, solar panels can increase the value of your home. In fact, the numbers are pretty strong: Buyers regularly pay an additional 4% for homes with solar panels, and are willing to give $4 per watt installed. That’s about $15,000 for a typical PV system.
How Much Does Solar Increase Home Values in Florida?
Now, let’s see how this applies to homes in Florida. As of July 2023, Zillow has set the average Florida home’s value at $390,856. Going by the 4% estimate, homeowners selling properties with rooftop solar can expect to see a $15,634 price boost.
If we’re looking at Sarasota, the gains are even higher. With an average home price of $461,732, sellers with solar systems will get $18,469 more. For truly outstanding numbers, look at Bradenton Beach, where average $756,112 homes will yield gains of $30,244.
Why is Solar So Appealing to Florida’s Homebuyers?
Between inflation, the rising costs of electricity, and worries over climate change, more and more citizens are prioritizing energy efficiency in their lives. This can be seen in the correlation between home values and energy savings: home values increase $20 for every $1 saved on annual electricity bills.
Thanks to Florida’s sunny climate, solar energy systems installed here have the potential to cover electricity bills entirely. The average household sees bills of about $150 per month, though many see higher. Going by this number alone, homeowners could see a value increase of $36,000.
Having reliable power is another big benefit of solar, especially for Florida buyers. During Hurricane Ian, hundreds of thousands of homes lost power for several days, some even weeks. However, homes with solar energy systems still had access to power, and were thus able to stay much safer and more comfortable through the recovery.
Many of the people buying homes in Florida are now prioritizing properties that are well-prepared for hurricanes, especially since climate change is expected to only increase the frequency of these extreme weather events.
AKVM Improves Florida’s Home Values with Solar
Of course, achieving a solid increase in your home’s value requires a high quality installation. You’ll need to get your system installed by an expert team with the specialized skills necessary to ensure quality and durability.
AKVM ranks as one of the top solar rooftop providers in Sarasota, Hillsborough, and Manatee counties. As a GAF-certified installation team, we’re qualified to install GAF’s Timberline Solar™ Energy Shingles (ES), the world’s first nailable solar shingles.
These revolutionary shingles allow solar generation to take on the look of traditional roofing, consolidating installation needs and helping homeowners get the most out of their rooftop. This is particularly noteworthy when it comes to home values, as the classically attractive appearance is only an enhancer.
If you’re interested in seeing how solar shingles can elevate your home’s value and performance, we invite you to reach out today. Our team is happy to come out and conduct a FREE, no-pressure inspection and estimate.