Interested in solar, but not in your “forever home”? No worries. We often get asked about how installing solar affects the resale value of a home, so this article is here to explain what data there is, and some of the factors that can make solar panels a positive feature for real-estate.
While there aren’t specific studies focused solely on Virginia’s real estate market, national research and local trends strongly suggest that homes with solar panels are more attractive to buyers. Here’s what the data shows and how it applies to homeowners in Virginia.
National Studies Show Increased Value for Solar Homes
National data consistently highlights the positive impact of solar panels on home values. A study from Lawrence Berkeley National Laboratory found that buyers were willing to pay an additional $15,000 on average for homes with solar systems, depending on the system size and market conditions. Similarly, Zillow research shows that homes with solar sell for 4.1% more on average, while Rocket Homes reports that homes with solar are 24.7% more likely to sell over asking price and spend 13.3% less time on the market.
For Virginia homeowners, this data suggests that solar panels not only boost a property’s value but also improve its marketability. With energy costs steadily rising, buyers increasingly see solar as a way to protect themselves from rate increases, and keep their monthly payments low & predictable.
People want solar homes, just like you.
Virginia homeowners already recognize the value of solar. According to Rocket Homes, 67% of households without solar are interested in adopting it in the future.
In over a decade of selling and installing solar in Virginia, I have certainly seen the rise in popularity among homeowners. A solar system that reduces or eliminates a $200 monthly electric bill can free up money for other expenses, such as mortgage payments.
Moreover, buying a home with solar panels can be one of the best ways to “go solar” with optimal financing. Mortgages typically have long terms and low interest rates, making them far more cost-effective than solar loans or leases. Since the alternative to solar is paying a steep electric bill, buying a home with solar often translates to immediate monthly savings.
What about selling a home with a solar loan or lease?
This is where things get complicated. If you are considering an long-term loan or lease to purchase your solar system, this could make it more difficult. While it does happen all the time, selling this type of system is likely to add more difficulty and confusion than if you are selling a solar home that is owned outright. If you are purchasing a solar system now with the intent to resell the home, it is recommended that you make a cash purchase, or pay off any loans / liens prior to selling your home.
Local Trends in Virginia’s Housing Market
While there are no comprehensive studies specific to Virginia, local real estate experts observe similar patterns. Aron Weisgerber of the Solstice Real Estate Team in Rappahannock, VA notes, “In my experience, homes that already have solar are more desirable and can help sell a home faster. If the monthly utilities are $200 cheaper than a comparable home, that may make the mortgage easier to manage.”
Additionally, Virginia’s favorable solar policies, such as net metering and solar tax credits, make solar homes even more appealing. As energy regulations evolve, these benefits may become even more valuable to prospective buyers, particularly in areas like Charlottesville, Richmond, and Northern Virginia. For Virginia homeowners considering solar, the benefits extend far beyond energy savings. By increasing your home’s value and market appeal, a solar installation is a smart investment for both current utility savings and future resale potential.
