Solar increases the value of your home 4.8% in NC


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Solar increases the value of your home 4.8% in NC

  Does adding solar power increase a home’s value at time of sale? According to real estate information company Zillow, in some states the answer already is yes. Zillow’s research indicates that in the same way homeowners are willing to pay thousands of dollars for renovations like a new kitchen or finished basement, they need to evaluate the return on investment from investing in solar energy.

Installing solar panels in a home not only helps to reduce current monthly utility bills; it can potentially increase the home’s value by up to 4.1% more than comparable homes with no solar panels, according to recent solar research done by Zillow — or an additional $9,274 for the median-valued home in the U.S.

Here’s the top 10 states with the highest solar premiums, according to Zillow’s findings:

  1. New Jersey: 9.9% or $32,281 for the median-valued home.
  2. Pennsylvania: 4.9% or $8,589 for the median-valued home.
  3. North Carolina: 4.8% or $8,996 for the median-valued home.
  4. Louisiana: 4.9% or $7,037 for the median-valued home.
  5. Washington: 4.1% or $15,916 for the median-valued home.
  6. Florida: 4% $9,454 for the median-valued home.
  7. Hawaii: 4% or $24,526 for the median-valued home.
  8. Maryland: 3.8% or $10,976 for the median-valued home.
  9. New York: 3.6% or $10,981 for the median-valued home.
  10. South Carolina: 3.5% or $5,866 for the median-valued home.

https://www.cnbc.com/2019/10/05/solar-power-can-boost-a-homes-value-in-these-10-states-the-most.html

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On side note here are some things to consider. NC is the 9th largest state in the country, we use the 9th most power however NC is cheaper than all but 13 other states. Those 13 other states have much less power usage than NC. The point is, NC is going up! To put NC at the top 10 in pricing is exactly where Duke wants NC. That will put NC around .17 per watt. If your power bill averages $150 now, it will average $216, that is nearly $800 per year more.

If you have solar today and it increases the value of your home 4.8% at .11 cent per watt imagine how much more valuable your solar will be when the cost of power is at .17 cent per watt. With the 26% tax credit and the Duke rebate you can buy solar cheaper today than you will be for the next 10 years. The tax credit drops to 22% in 2021 and then end. The Duke rebate has 2 more years and then it will expire as well. At that point solar will sell on its own with no help with incentives.

Call today for a free quote.

 

Joey Austin

910.352.6085

 

 


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