A home with solar panels in Edmonton will have a competitive advantage in the real estate market. A home with sustainable, green solar power is attractive to informed and eco-conscious home buyers. It’s better for the planet, and it also means a controlled or eliminated power bill.
SolarNinjas Energy Solutions are electricians in Edmonton that specialize in solar power systems for residential and commercial buildings. They share more information about the real estate value of solar power:
Buyers are attracted to energy cost savings
A solar system harnesses free sustainable energy from the sun. Advancements in solar power systems allow residential systems to generate and store enough power to reduce and often eliminate the cost of electricity. Essentially, a home with solar power is will generate a steady return on the initial investment indefinitely.
We get a lot of sunshine in Edmonton, Alberta. According to this report, Edmonton receives about 2300 hours and 321 days of sun per year. That means your solar panels can generate enough power to run your home. Then, any excess energy will go into the electrical grid. The electrical company will give you credit for the extra power that goes back into the grid. That means you can even make money for some months.
During the winter, snow can cover your panels and reduce their energy output. However, it is not by as much as you might think. So when you calculate the production over the entire year, that minor generation loss doesn’t impact your yearly savings. Essentially, the long sunny days in the spring, summer, and fall make up for the slight dip in output during the snowy months.
Overall, solar power provides long-term cost savings that are attractive to buyers. Why pay for electricity when you can purchase a house with solar?
Sustainable homes are becoming more popular
Solar panels in Edmonton were once seen as a novelty for environmentally-friendly homeowners with deep pockets. But, thanks to several grant programs and solar rebates in Edmonton, residential solar power has become more affordable and accessible to everyone. With more homes going solar, more people see the value in this green home upgrade.
Increased popularity will make your home’s solar system an attractive and marketable factor for educated buyers when it’s time to sell. They’ll be willing to pay a little extra for a home with solar power over a home without solar. This competitive advantage can also help increase your home’s listing price. Plus, the benefits of solar energy will help your home sell faster.
Solar power has a good return on investment
Investing in solar power will help you with long-term energy cost savings and will increase resale value. When you combine these two factors, you’ll see that spending money on solar has a great ROI. This article about the benefits of solar shows that homeowners can see their solar system pay for itself multiple times over during its lifespan. Studies indicating homes with solar can sell up to twice as fast and retain the value of the solar project in the house price can be found here.
Have questions? SolarNinjas Energy Solutions has the answers. Reach out to the to start planning your solar power system installation.