Does Solar + Storage Increase Home Value in Hawaii?

Investing in solar energy, particularly when combined with energy storage, is a significant decision for homeowners. A common question that arises is whether these installations can increase the value of a home. In Hawaii, the answer is a resounding yes. Below are key reasons why integrating solar panels and storage systems can boost your home’s value in the Aloha State.

Benefits of Solar + Storage in Hawaii

1. High Energy Costs
   Hawaii has some of the highest electricity rates in the United States. Homeowners who install solar panels with storage systems can significantly reduce their energy bills and enhance energy independence, making homes equipped with these systems highly attractive to potential buyers.
2. Renewable Energy Incentives
   Hawaii offers various incentives for solar installations, including the Hawaii State Tax Credit, which can cover up to 35% of the cost, and the federal Investment Tax Credit (ITC), which covers 26%. These incentives make solar and storage investments more affordable and appealing, adding considerable value to your property.
3. Sustainable Living
   With a growing awareness of environmental issues, many buyers are looking for homes with sustainable features. Solar panels paired with storage systems contribute significantly to a home’s eco-friendliness and energy security, making it more desirable in the market.

Studies and Statistics

1. Increased Property Value
   Several studies have shown that homes with solar installations, especially those with storage, sell for more than those without. According to a study by the Lawrence Berkeley National Laboratory, homes with solar panels in the U.S. sold for an average of $15,000 more than comparable homes without solar.
2. Faster Sales
   Homes with solar and storage systems also tend to sell faster. Buyers are often willing to pay a premium for homes that offer lower utility costs, enhanced energy security, and sustainable features.

Local Market Insights

1. Real Estate Agent Perspectives
   Local real estate agents in Hawaii confirm that solar panels and storage systems are strong selling points. Many buyers are specifically looking for homes with these energy solutions due to the potential for lower energy costs, increased energy security, and the state’s commitment to renewable energy.
2. Buyer Preferences
   In Hawaii, there is a strong preference for homes that can reduce the cost of living. Solar energy systems with storage provide significant savings on energy bills and offer backup power during outages, which is a major consideration for many buyers.

Trust Revolusun
Installing solar panels with storage systems in your home in Hawaii is a wise investment that can increase its market value and appeal. With the state’s high energy costs, attractive incentives, and growing demand for sustainable living, solar and storage systems make homes more desirable and valuable. If you’re considering adding solar + storage to your home, now is an excellent time to take advantage of these benefits.

For more information on solar + storage solutions and incentives in Hawaii, contact RevoluSun today. Our experts can help you navigate the process and maximize the benefits of solar energy for your home.

Sources

• Lawrence Berkeley National Laboratory. “Selling into the Sun: Price Premium Analysis of a Multi-State Dataset of Solar Homes.” January 2015.
• Zillow. “Homes with Solar Panels Sell for 4.1% More.” October 2019.
• Hawaii Real Estate Market Reports. “The Impact of Solar Panels on Home Values in Hawaii.” 2023.
• Hawaii State Energy Office. “Renewable Energy and Energy Efficiency Program.” 2023.