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Solar Panels Boost Home Value by 56%, Study Shows

July 1, 2021
 

Workers installing solar panels on roof

© Sebastian Rothe - EyeEm/Getty Images

Solar Panels Boost Home Value by 56%, Study Shows

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June 30, 2021

Homes with solar panels tend to list 56% above the average home price, according to a new analysis from Porch.com, a home improvement resource. Solar paneled homes tend to cost an average of $680,000—about 48% more than the average home in a given area, the study shows.

Solar homes tend to be more attractive in certain markets. For example, solar-powered homes tend to come at the highest premium in Pensacola, Fla., in which they tend to be three and a half times the average home price in the city, the Porch.com study finds.

“Unlike swimming pools, there seems to be a statistical consensus that solar panels do add value to their home,” the Porch.com study notes.

A separate study from The Solar Nerd found that solar installation can add up to $56,000 to the value of the home.

 


Chart of solar panel costs
Source: 
U.S. Cities Ranked by Solar-Panel Costs in 2021,” Porch.com (June 15, 2021)

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