In short, yes-adding solar to your home can increase value. In fact, homes with solar panels typically see up to a 6.9% increase in value . This depends on several factors, including local electricity rates and state policies, the age and efficiency of the system, whether it's owned or leased, and the demand for sustainable homes in your area. In this Redfin article, we'll cover the key factors that affect value, the pros and cons, and the typical installation costs. So whether you're a homeowner in Washington, DC or , you can make an informed decision about adding solar to your home.
When you buy a home, one of the biggest financial benefits comes from the opportunity to build equity over time. Building equity in a home means gradually increasing the portion of your property that you truly own. You can do this in two main ways: either by paying down your mortgage if you have one, or by increasing your home's market value.
The value a pool adds can vary widely. According to the data, the average return on investment (ROI) for a swimming pool is about 7%. But in places like Los Angeles, that number can jump significantly—up to $100,000 in added value. On the flip side, in some regions, a pool may add little to no value and might even be seen as a drawback due to upkeep and ongoing costs.
Homes with owned solar panels are rarely harder to sell and can be a selling point that helps the home sell faster. According to a 2024 National Association of Realtors survey, real estate agents found that rooftop solar panels can increase perceived home value as buyers look to save money on energy costs.