Many people don’t realize that not only does a solar system eliminate your electric bill, but it can also increase your property value. According to Zillow, median valued homes on average sold for an additional 4.1% than homes without a solar system. This translates to $9,717 when comparing median value homes which are around $237,000 as of December 5th, 2019.
Granted you won’t realize this benefit unless you sell your home. However, the extra added value to your property, coupled with the investment tax credit (ITC), significantly reduces the cost of going solar. If you’re interested to learn more about this in detail and see a few examples, click on Top 5 Reasons to Go Solar NOW!
The average customer at Sunlux pays about $27,411 for a solar system that will eliminate their electric bill. When you factor in the 30% tax credit, the cost becomes $19,187. Next, let’s add in $9,717 which is the increase we would realize in our property value. That leaves us with a final cost of $9,470. I don’t know about you, but that sounds like a pretty good deal to eliminate my electric bill for the next 25 years.
* Final costs will vary on monthly electrical usage and actual property value