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How a Solar System Can Raise Your Home Value.
Embarking on a home remodeling project can be a big decision and sometimes overwhelming. Many factors go into picking the right project for you and your home. Installing a residential PV Solar System can be one of the best decisions you can make for home renovations. According to a Zillow analysis, Solar Panels can raise a home’s value by an average of 4.1% in the U.S.
A recent article from CNBC reports that at least 80% of Americans take energy-efficiency into account when they are looking for a home. A Solar home appeals to buyers by offering a home without an electricity bill. Over the course of their time in the home, that could end up saving the homeowner thousands of dollars.
Customers who go Solar can expect a return that far surpasses their initial investment in the form of either lowering or eliminating their electrical bills. That is in addition to the 26% federal tax credit that they will receive if they complete their install by the end of 2020. A residential Solar system is economically and environmentally friendly along with many other financial benefits.
The first factor is usually location, but the second leading factor to home value is upgrades and updates. An analysis by Berkshire Hathaway, points to Solar Panels as one of the upgrades you can do to maintain a high value against your neighborhood’s comparative homes. In Colorado keeping your home updated and energy efficient is desirable due to rising electrical costs across all utilities.
There are a few essential parameters that can help you decide. First is that as a Colorado resident, you are in a state with an average of more that 300 days of sunshine. Having that much access to strong solar energy will keep your production high and save you lots of money. The next thing to look at is the size and direction of your roof. Typically, Solar performs the best on a southern facing roof with little shade from trees. Panels can also be placed on east and west facing planes of the roof depending on the roof itself, if this is that case for your home, you can capture energy from both the rising and setting sun all year long.