Yes! Installing solar will increase your home’s value in two ways—by reducing your annual operating costs and by increasing your home equity. According to a leading mortgage provider, saving electricity adds significant value to most homes. They point to a study showing that for every $1,000 saved in annual energy costs, $20,000 is added to the value of the home. Many states allow you to exclude the cost of a solar electric system from your property taxes as long as you don’t sell your home. In other words, while the value of your house will go up with the installation of a solar electric system, this addition can be excluded from your property’s assessed value. This makes solar home improvement one of the best home renovation projects from a financial benefits perspective.
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