Here’s how Americans feel about rooftop solar systems and how it affects their home values

Here’s how Americans feel about rooftop solar systems and how it affects their home values

To understand the impact of the introduction of rooftop solar panels in the United States, consumer reviews and news platform ConsumerAffairs surveyed 1,000 US homeowners about their views and overall experiences with solar panels. Here’s what the homeowners said.

Reasons for – and against – the introduction of solar panels on the roof

Homeowners who installed solar panels explained their top reasons for doing so and how much they spent:

  • Benefiting the environment: 60%
  • Energy security: 54%
  • Energy bill reduction: 52%
  • Energy dependency reduction: 49%
  • Tax Credit/Refunds: 37%
  • Shade roof: 29%
  • Be off-grid: 28%

Homeowners who adopted solar energy spent an average of $11,735 and it took seven years to recoup the investment.

And those who haven’t yet made the move to rooftop solar shared their top deterrents:

  • Too expensive: 22%
  • Unsure how incentives work: 11%
  • Waiting for the next technological advance: 10%
  • Credit worries: 8%
  • Unsure how solar works: 6%
  • Roof is not suitable for solar: 5%

How the solar system on the roof affects the value of the house

St. Petersburg, Fla. and Knoxville, Tennessee saw the two largest percentage price increases in home selling prices for rooftop solar panel installation. Homeowners with solar systems in these two cities were able to sell more than others for a staggering 159% and 149%, respectively.

California, which is regularly at the forefront of green initiatives and legislation, had 11 of the top 75 cities with the highest price increases in clean energy home sales. New York had the most clean energy homes for sale.

Even the bottom four cities in percentage value increase – Seattle; Columbus, OH; Bridgeport, Connecticut; and Anaheim, California — saw a 1% increase in the selling price of homes with solar panels.

70% of the homeowners surveyed were pleased with the significant increase in the value of the house after the installation.

Homeowners can make a significant amount of money by adopting solar energy, especially after the initial installation costs have been paid off. On average, US solar homes reported an average annual savings of $1,587 just from energy costs alone.

Continue reading: Here are the 3 biggest trends in rooftop solar and battery storage

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