Have you ever wondered if a solar system is worth the investment? Not only would it lower your energy bills, but it would also add value to your home. A recent study found that solar panels increase a home’s value by 6.8%. This means your home will be worth more money when you put it on the market.
Whether you’re planning to sell soon or simply investing for the future, adding a solar system to your home is a smart financial move. Below, we explain how the added value of solar can benefit Vermont homeowners.
Breaking Down the Numbers
While the size of every solar system is based on the specific site and customer’s energy usage, our average residential solar system is 10 kW, costing around $3 per watt. After applying the federal tax credit, the average homeowner spends just over $22,000 on their solar installation.
In 2024, the average home price in Vermont was $395,800. Applying the 6.8% increase in value from installing owned solar. That means that, a home with solar could see an increase of $26,900.
These numbers show that homeowners could fully recover, and even make more than the cost of their solar system through the added value to their home.
The Key Takeaway
This data shows clearly how solar is a good investment for Vermont homeowners. You save on energy costs while you own the home, and when it comes time to sell, you’re likely to recover your investment, and even make a profit.
As we enter this era of electrification, where everything from transportation to home heating is shifting to electricity, solar-powered homes will only become more valuable.
If you’re ready to get started on your solar project, contact us at Green Mountain Solar!
