LOS ANGELES/ APRIL 22, 2019 (STL.News)
Environmentally-conscious homeowners recognize the evident ecological benefits of rooftop solar panel systems. They know that solar panel systems are making a significant contribution to our air purity as their clean energy production continues to replace the pollution of fossil fuel consumption. But all homeowners who invest in solar panels are also seeing the substantial financial benefits of solar panels, like reduced energy bills and increased home values.
According to an article published on Zillow Research, “During the past year, homes with solar-energy systems sold for 4.1% more on average than comparable homes without solar power. For the median-valued home, that translates to an additional $9,274.”
Regarding this recent study, Green Solar Technologies Founder Nicki Zvik notes, “When looking at PV systems from a financial standpoint, it’s important to look at them as an investment. If a person is living in a home that they may want to sell in the future, installing solar can place them in a more attractive position when they choose to sell.”
Increasing the market value of a home is just one part of the personal financial picture. Adding a solar panel system also eases the strain on monthly budgets through reduced electricity costs, which encourages home buyers to purchase homes that already have solar installed.
“Solar is a lucrative investment whether somebody is selling or buying a home. At Green Solar, we have many customers who see payback from their PV system in as little as five years, which is already incredible,” says Zvik, “and for those looking to purchase a home, having the system already installed that will help them to save big on their electricity bills tends to be a huge plus, which is why buyers are willing to pay more.”
More good news for homeowners are the rapid advancements in solar technology, which are helping to substantially lower the cost of solar.
Nicki Zvik states, “Solar has never been more affordable, and the cost of solar is constantly dropping. In the past few decades, solar prices have dropped 99 percent making solar installation easily attainable for the average homeowner. It’s proving to be an exciting time for both the solar industry and solar buyers.”
Solar panel systems, which began many years ago as an indulgence for the well-to-do, have become a viable and practical option for homeowners across a wide spectrum of income levels. There is no longer any reason for those who own or are planning to purchase a home to shy from investing in solar. The personal financial benefits are tangible and clear. And all who turn to solar electricity for their homes have the added satisfaction of knowing that they are making a significant investment in the future health of our planet—which may, in the long run, prove the most valuable reward of all.
Nicki Zvik is the founder of Green Solar Technologies, a solar company headquartered in Los Angeles, CA, and real estate investment company, Spectrum Properties LLC.