How Solar PV Impacts Home Sales

Lawrence Berkeley National Laboratory research yields clear evidence that homes equipped with PV solar systems sell for a premium over homes without them.

Not long ago the Solar Energy Industries Association (SEIA), along with Vote Solar, released a statement about the findings in the Lawrence Berkeley National Laboratory’s new study on the positive effect that photovoltaic systems have had on home value throughout  California.

“Families across the country are turning to solar energy to cut their electricity bills and add value to their homes,” said Tom Kimbis, SEIA’s Director of Policy and Research. “The Lawrence Berkeley study shows that solar can be a solid investment for homeowners and a revenue generator for homebuilders. This report adds to previous findings that homes with solar sell faster than those without it.”

“Installing solar reduces ownership costs and increases resale value. Now that’s a value proposition,” said Adam Browning, Executive Director of the Vote Solar Initiative.

The new study finds that homes in California that include PV installations sold for a premium of approximately $3.9 to $6.4 per watt. The finding corresponds to an average home sales price premium of approximately $17,000 for a relatively new, typical size PV system.This was the first research to collect and analyze data on the existence and extent of residential PV sales prices impact across a large number of homes and over a wide geographic area.

The report, “An Analysis of the Effects of Residential Photovoltaic Energy Systems on Home Sales Prices in California,” can be downloaded from http://eetd.lbl.gov/ea/ems/re-pubs.htmlHomes with Solar Systems sell for a premium over homes without solar

 

Adapted from a post at seia.org