FORT WORTH (CBSDFW.COM) – A recent study published by Porch.com suggests two North Texas cities rank at the bottom of the list when it comes to cashing out on added equity because of solar power.
Porch.com spokesperson Jaclyn Lambert said in Arlington and in Plano, there is little to any benefit in investing on solar if you’re hoping that will add a premium to your home.READ MORE: Fort Worth Residents Concerned About Plans To Replace Nearly 100-Year-Old Forest Park Pool
“For Arlington in particular homes with solar only sold for about 4% on average higher than a home without solar,” said Lambert.
In Plano, she said it was worse with solar homes only selling for about 1% more than a non-solar home.
By comparison, Dallas solar homes sold for a 55% premium, and in Fort Worth it was 35% according to their numbers.
She said the reason may simply be the varying popularity of solar homes from city to city across the Metroplex.READ MORE: Cook Children’s Halts Elective Surgeries Due To Staff, Bed Shortages During COVID-19 Surge
“There is just not that many listings with solar. So, I think in the future when solar becomes more popular these numbers will start to sort of even out and make more sense as a whole,” said Lambert.
Solar estimates across Texas suggest the average price of installing a solar power system at a home is about $13,600.
“So, what this showed to us is if you live in Arlington and you are interested in getting solar panels do it because you want to have solar power in the home you are living in,” said Lambert. “I would not consider doing this if you are looking into flipping a home or if you are planning on selling your home in the next year.”
She also reminds consumer who are interested in solar that there are federal programs that offer incentives for those who choose to go this route.MORE NEWS: COVID-19 Vaccines Don't Impact Fertility, But The Virus Does, Doctors Say
“There is a federal solar investment tax credit that you can take advantage of that’s through the federal government not the state of Texas,” she said.