When we are talking to people about solar panels, one of their first questions is: “What if I sell my house?” A recent article by ‘Cost of Solar’ says recent studies in the United States are showing that buyers are paying a premium for homes with solar panels.
Quote from article:
“The study, which analyzed about 22,000 home sales, just under 4,000 of which were solar homes, across 8 states between 1999 and 2013, showed an average price premium of about $4 per watt of installed solar PV, with an average price premium of about $15,000 for a solar home with a typical system (3.6kW) installed.”
The numbers will be different in Canada. Most solar panel installations in our South-Western Ontario market are between 5kW and 10kW. Solar panels effectively turn your home into an income property. Revenue from the panels will help the new owner with their mortgage payments. This should make your home easier to sell and command a premium price.
If you own your own home and it features a good sized south facing roof, you have an excellent investment opportunity. The Hayter Group evaluates your property for free. We take care of all the government paperwork for you. Solar panels can be financed and usually cash flow positive from day 1. Give us a call today, or read more in the solar section of our website.