by DrWillie
Hot Topic – Will a solar backup system increase the value of a property
Installing a solar backup system can be of great value to a property, particularly when located in an area with frequent power outages or high electricity costs. The addition of such a system can increase the property’s overall value. Solar backup systems are a great way for homeowners to ensure electricity supply during load shedding. Additionally, they can also help homeowners save money on energy bills by reducing the amount of money they need to pay for their energy consumption.
Homebuyers today are paying extra attention to eco-friendly and energy-efficient properties that use renewable sources of energy. This trend is growing steadily and likely to become the norm in the near future. Solar backup systems can provide homeowners with reliable, uninterrupted power during outages, reducing the need for a generator or other backup power source and saving on the running and maintenance costs of generators.
A study conducted by the National Renewable Energy Laboratory (NREL) has revealed that homes with solar energy systems are more valuable when it comes to resale value. The research further suggests that such dwellings were worth 17% more than their counterparts without a solar power system. This makes investing in solar energy technology a great decision for homeowners looking to maximize their home’s market value.
It is unclear how much of the value increase is attributed to the solar backup system, but it is evident that solar energy is viewed as a desirable feature in today’s real estate market. Potential buyers may be willing to pay more for a property that already has a solar backup system installed, as it saves them the hassle and expense of having to install one themselves.
Nonetheless, keep in mind that the rise in property value might not fully pay for the installation of a solar backup system. The gains from solar energy storage can differ from one location to another, depending on the size and; quality of the system and the general real estate trends in the region.
