As a real estate agent, it’s important to have an understanding about the growing interest in solar energy, why it’s happening and how it’s affecting local real estate markets. Read on to get in the know when it comes to solar so you can be a resource of knowledge on this issue for your clients.
Growth in solar energy interest
According to a recent Rocket HomesSM study, 67% of non-solar households are interested in solar. That’s more than two-thirds of homeowners! In addition, 27.2% of homeowners say they have or are in the process of getting solar panels or solar shingles. Of those who don’t have solar power in their homes, 66.5% are interested in getting it in the future.
Why solar energy?
Why the sudden rising interest in solar energy? Well, let’s start with the data: 90.7% of homeowners with or in the process of getting solar cited the desire to lower their electric bill.
Environmental responsibility is increasingly important to Americans as well. Reducing dependency on fossil fuels is important to many people and using the power of the sun has become a popular choice.
How solar powered homes impact the market
So, how does all of this impact the real estate market? Do homes with solar sell faster? Are buyers looking for homes with solar panels? The answer to both of these questions is a resounding yes.
Home listings with solar spend 13.3% less time on the market and are 24.7% more likely to sell over asking price. So, when you are listing a house it’s important to know that solar panels can be a big selling point in an already hot market.
Understanding how the benefits of solar power are different throughout markets across the country is important too. Due to differences in local climate, economics and geography, going solar offers more benefits in some places than others. While solar power is good for the planet anywhere, these are the best cities to add solar to a home.
The bottom line: solar power homes are in high demand
America is going solar, so don’t let your buyers and sellers get left behind. Ready to learn more? Check out the Rocket ProSM Insights Learning Center for the latest real estate and housing updates.