Here's What Americans Think About Rooftop Solar Power and How It Affects Their Home Value

Here’s What Americans Think About Rooftop Solar Power and How It Affects Their Home Value

To understand the impacts of adopting rooftop solar in the United States, ConsumerAffairs, the customer review and consumer insights platform, surveyed 1,000 U.S. homeowners about their of view and their overall experience with solar panels. Here’s what the owners said.

Reasons for — and against — adopting rooftop solar

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

  • For the benefit of the environment: 60%
  • Energy security: 54%
  • To reduce the energy bill: 52%
  • To reduce energy dependence: 49%
  • Tax credit/rebate: 37%
  • To shade the roof: 29%
  • Being off the grid: 28%

Homeowners who adopted solar energy spent an average of $11,735 and it took seven years to see a return on investment.

And those who didn’t opt ​​for rooftop solar shared their top deterrents:

  • Too expensive: 22%
  • Not sure how incentives work: 11%
  • Waiting for the next technological breakthrough: 10%
  • Credit problems: 8%
  • Not sure how solar energy works: 6%
  • The roof is not suitable for solar: 5%

How Rooftop Solar Power Affects Home Values

St. Petersburg, Florida, and Knoxville, Tennessee saw the two largest percentage increases in home sale prices for installing rooftop solar panels. Homeowners with solar power in these two cities were able to sell respectively 159% and 149% more than the others.

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 rose in percentage value – Seattle; Columbus, Ohio; Bridgeport, Connecticut; and Anaheim, California – saw a 1% increase in the sale price of homes with solar panels.

70% of homeowners surveyed said they were satisfied with the substantial increase in home value after installation.

Homeowners can save a lot of money by going solar, especially after the initial cost of installation is paid off. On average, US solar homes have reported an average annual savings of $1,587 in energy costs alone.

Read more: Here are the 3 biggest trends in rooftop solar and battery storage

UnderstandSolar is a free service that connects you to the best solar installers in your area for personalized solar estimates. Tesla now offers price matching, so it’s important to look for the best deals. Click here to learn more and get your quotes. – *ad.

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