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Solar Power Can Have A Big Payoff for Indiana Homeowners

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Posted by: Brent Lyle on Thursday, July 13, 2017 at 6:00:00 am

Solar Power Can Have A Big Payoff for Indiana Homeowners

 

Though we do not live in the sunniest region of the U.S., we can still benefit from solar power. There is a great deal of solar potential right here in the Midwest!

While the initial cost of solar panels can seem costly (ranging anywhere between $15,000 and $40,000), the panels will eventually pay for themselves over time since the use of solar energy can greatly reduce the cost of utility bills.

Solar panels can also increase the value of a home. “Buying a solar energy system will likely increase your home’s value. A recent study found that solar panels are viewed as upgrades, just like a renovated kitchen or a finished basement, and homebuyers across the country have been willing to pay a premium of about $15,000 for a home with an average-sized solar array. Additionally, there is evidence that homes with solar panels sell faster than those without,” according to the Department of Energy.

 

The Indianapolis-area is listed as a top 10 US, Midwestern city for solar power potential. Here’s how we ranked:

Rank: #7 out of 10
Median Sale Price for Non-Solar Listings: $142,000
Median Sale Price for Solar Listings: $238,900
Average Sun Number: 77 out of 100 (a score which makes it easy for homeowners and homebuyers to understand the solar potential of their current or future home)

 

To see the full list, click here:

LINK: https://www.redfin.com/blog/2017/05/10-midwestern-cities-where-solar-power-has-a-big-payoff.html

 

For more information on solar systems and state regulations, take a look at the Indiana Office of Energy Development’s web resources:

LINK: http://www.in.gov/oed/2412.htm

 

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