Home owners in Maryland are increasingly growing aware of solar panels, with more residences than ever investing in this alternative energy source. Because of the perceived cost of a solar array, many families wonder what benefits their financial commitment will create.
While a reduction or total elimination of energy costs is the most common advantage, do not forget to consider that Maryland solar panel installation can also have an impact on the value of the home as well.
Solar panels can increase a home’s value by thousands of dollars in addition to the energy efficiency benefits.
Here is an overview of how Maryland solar panels increase your home’s value, as well as how to determine whether your home is a good candidate for a solar panel array.
Increased Buyer Appeal
Increasing a home’s value by adding solar panels is noticeable when you sell the property. On average, a home with solar panels will sell for around 4% more than comparable homes without panels, according to a real estate study.
With the average home price in Maryland soaring to new historic highs of $480,000, that is almost $20,000 in additional value—and potentially similar to the cost of installing the solar array in the first place.
However, homeowners can enjoy additional benefits and returns on investment from solar panels without needing to sell the property.
Reduced Energy Costs
For many, the appeal of solar panels is in their ability to reduce or entirely eliminate a structure’s energy costs.
Solar panels, with or without a battery system, can provide the energy your home needs to stop or decrease drawing from municipal power, which means that you are using electricity you don’t have to pay for.
When solar panels are installed in strategic locations to maximize their daytime exposure, homes can meet their full energy needs through panels, ending monthly utility billing for any appliances that draw on electricity.
This is a more tangible value improvement, as your budget will widen each month due to a lower or entirely absent bill.
Decreased Energy Dependence
Alongside the ability to produce your home’s own power is the subsequent reduction in reliance on utility companies. The value here comes not only from the bill savings but also from reliability and security from outages.
If a power company experiences an issue or your home’s connection to electrical poles is interrupted, you could wait hours for power to be restored.
This inconvenience can affect the homeowner’s comfort and even money if food spoils. A reduction in energy dependence ensures that your home remains functional regardless of what power providers are doing.
Lower Carbon Footprint
Solar panels decrease a home’s carbon footprint by separating it from utility providers that emit greenhouse gasses.
They can also replace carbon-producing generators and other tools that keep a home running. Not only are homes with green energy options worth more, but a monetary value cannot be placed on clean air and a healthy environment.
Is Solar a Good Choice for Your Home?
Solar panels can increase your home’s value in multiple ways; however, to maximize the advantages received from a solar array, it is important to install panels strategically.
Some homes are more suited for solar panels than others, but an expert installer can help you explore the best ways to maximize your space to accommodate the panels you need.
The best solar candidates will have homes that see direct sunlight for the majority of the day. The roof and home structure should be in good condition to support the weight of the solar array, and there should not be an excess of trees or other obstructions that block available sunlight.
Working with a professional should include receiving a customized array layout that takes full advantage of the strength of your property while mitigating the negatives.
The good news is that because Maryland experiences hundreds of sunny days each year, the odds are good that your home is a favorable candidate for solar panel installation.
Get a Solar Estimate from the Pros
If you are wondering how solar energy could help you achieve your goals for energy independence, reduced electricity bills, and increased home value, the next best step is a consultation.
The experts at Ipsun Solar are part of the Amicus Solar Cooperative, which stays on the cutting edge of solar technology to ensure that customers are always receiving the best available innovations. Contact Ipsun Solar to receive a solar installation quote that is personalized to your unique property conditions and goals.
