Homes with solar panels tend to list 56% above the average home price, according to a new analysis from Porch.com, a home improvement resource. Solar paneled homes tend to cost an average of $680,000—about 48% more than the average home in a given area, the study shows.
Solar homes tend to be more attractive in certain markets. For example, solar-powered homes tend to come at the highest premium in Pensacola, Fla., in which they tend to be three and a half times the average home price in the city, the Porch.com study finds.
“Unlike swimming pools, there seems to be a statistical consensus that solar panels do add value to their home,” the Porch.com study notes.
A separate study from The Solar Nerd found that solar installation can add up to $56,000 to the value of the home.