- Solar activity increased 300 percent between 2010 and 2015, with 29 percent growth between 2014 and 2015 alone.
- BuildFax says buyers are willing to spend $15,000 more, on average, for homes with installed solar panels.
- California encompasses 40 percent of the top 20 residential solar markets.
You might be all about recycling and composting for a lower carbon footprint, but would you install solar panels on your home?
A recent BuildFax report shows many Americans are making the investment in green building practices. Solar activity increased 300 percent between 2010 and 2015, with 29 percent growth between 2014 and 2015 alone.
What are the perks? BuildFax says not only do homeowners save on power expenses, but buyers are willing to spend $15,000 more on average for homes with installed solar panels. In some states, you don’t need an upfront investment to convert your home to solar energy, allowing for almost immediate savings.
BuildFax also says solar technology is becoming more affordable than ever. The Solar Investment Tax Credit provides a 30 percent tax credit that homeowners can use toward personal income taxes.
Solar homes most popular in the Golden State
Despite more homeowners nationwide opting for solar panels, California still reigns supreme in highest number of solar advocates. In the Golden State, residential solar activity is equivalent to all other states combined.
Almost half of the top U.S. solar markets are located in California, including Sacramento (no. 7) and Stockton (no. 9).
Outside of the top 10 markets, Chula Vista ranked no. 12 for solar activity among homeowners. Anaheim hit no. 14, San Diego was no. 16, Fremont was no. 17, Oakland was no. 19 and Riverside came in at no. 20.
Within its borders, the amount of residential solar activity in California increased five times since 2010.
Increasing solar in the south, east
Reno may have made the no. 1 city for solar, but recent legislation and local mandates have lessened solar popularity. In 2015, Reno experienced a 431 percent increase in solar installments. At the end of the year, the Public Utilities Commission placed extra charges on solar homeowners, raising their utility costs by 50 percent.
North Las Vegas (no. 2), Henderson (no. 3) and Las Vegas (no. 6) are facing the same hurdles relating to Nevada’s solar economy.
Previously, the demand for solar in Nevada spurred 9,000 jobs and $833 million in local investments. Since the solar rate increases, solar applications fell 99 percent.
Further south, El Paso placed fourth on the list, and Dallas and Fort Worth ranked eighth and tenth, respectively.
New York City came in at no. 15 for largest percentage increase in solar activity between 2014 and 2015.
In Maryland, 2 percent of the state’s electricity will come from solar by 2020. Baltimore is the fifth fastest growing city for solar energy.