Solar panels are becoming very popular as their efficiency and ability to store power grows. As Arizona is one of the states with the most sunshine available, this is creating a significant change in the way people get power.

Furthermore, home storage batteries are making solar power more sustainable. No longer are people relying on the grid (at least not so much) on cloudy days because they are able to store power from sunny days in large home batteries such as Tesla’s Powerwall.  

California adopted a rule last year (2018) that new homes would be built with solar panels beginning in 2020. Arizona could be on track to do the same as climate change makes the world focus on more efficient and sustainable energy sources.

In order to include solar panels in the valuation of your home, you must own the solar panels. Leased solar panels would not be included in the price of the home because they would belong to another entity that the future homeowners would have to contract with in order to continue using them. In order to sell a home with leased solar panels, a homeowner would either have to buy the remaining amount on the lease or get the homeowner to agree to take over payments. This could actually deter homeowners who don’t want to get into the co-mingling of contractual agreements.

There was a study done in California about how much solar panels increased the value of homes on the market, and it was found that every Kilowatt of power that came from solar panels increased the resale value of a home by over $5,000. However, for each year that the panels had been installed, this value dropped by 9 percent. Additionally, the increase in valuation never exceeded the cost of installation.

Essentially, if you are going to sell your home, then let your lease on your solar panels run to completion. Don’t purchase them if you plan to sell your home soon because it won’t pay off in the end. However, if Arizona passes a law making solar panels mandatory on new construction, your home may end up looking very outdated without solar capabilities. It is a bit of a speculation whether or not your home sale will benefit from solar panels. It won’t pay off to buy a new solar system with a home storage battery or batteries, but it will make your home more attractive to potential buyers. A lot of it will depend on your particular situation.