The value of solar panels

[Mike Martin]

I’m in Richmond, Virginia. But all else being equal, do solar panels meaningfully add to the value of a property? Personally, I would see solar panels on a house and think instant savings on energy costs. But I’ve never invested in solar panels before.

[Evan Polaski]

@Mike Martin, granted I have not had solar long enough to have sold any properties with them.  But from an buyers perspective, I think they do add some value if owned outright, but I do not foresee them creating significant value, or even as much as you typically pay for them.  

For me, solar has been a play of hopefully having a small environmental impact, and reducing my own energy costs.  I do think energy costs will continue to rise of the long term, making a solar system more valuable in the future.

But there is also a "tech" component to solar, in my eyes (and I am no expert).  There will be better systems in 5 years, and even better systems 5 years beyond that.  Additionally the costs of systems will likely come down, thereby creating less and less value with each year.