While we are out talking to potential solar customers in Phoenix, homeowners are often surprised when we tell them that solar panels will increase the value of their home nearly dollar for dollar. This often comes with a bit of skepticism, but the findings are entirely true: Solar panels increase your home value in Arizona.
A solar company in Denver, posted about this article from Zillow.com, the nation’s top digital real estate marketplace, which posted its findings from a yearlong study. Although the average value increase of a home with solar panels varied from market to market, the national average is 4.1% increase home value. So what does that mean for Phoenix, Arizona? Let’s do the math.
The Average Median home price in Phoenix, Arizona is $259,163. If you take that number and add 4.1% to it, you’ll get $269,789, or in other words, an increased home value of over $10,000. This, of course, is based on the industry average and is very conservative, as Arizona is one of the best markets for solar in the country.