Solar panels, which over the next decade will save millions of homeowners money each month on their electricity bill, could also add thousands to the value of your home itself. A recent report from the U.S. Department of Energy’s Lawrence Berkeley Laboratory found that host-owned solar panels could add $15,000 to a home’s value. That’s big news and could change how many people look at solar energy.
The Value of Solar Now Realized
In a study of home sales in eight states between 1999 and 2013, the Berkeley Lab found that a solar power system was worth about $15,000 to home buyers, or about $4 per watt. That’s a significant addition in value, especially when you consider that SolarCity (SCTY), Vivint Solar (VSLR) and SunPower (SPWR) are currently selling solar power systems based on the immediate cost savings they deliver customers each month.