Seeking to shed more light on how the installation of solar technology can impact home values, a team of researchers from the U.S. Department of Energy’s Lawrence Berkeley National Laboratory recently released a study showing how to calculate the value of green homes. According to the study, led by Appraisal Institute Designated Member Sandra K. Adomatis, homes with host-owned, solar photovoltaic (PV) energy systems are sold at a premium compared to homes without PV systems. The study was funded by the Department of Energy’s SunShot Initiative, a collaborative national effort whose mission is to make solar energy more cost-competitive than traditional energy sources before the end of the decade. What's a photovoltaic system and how much does it cost? PV systems absorb and convert sunlight into electricity and can range from small, rooftop-mounted or building-integrated systems with capacities from a few to several tens of kilowatts, to large utility-scale power stations of ...
- Homes with host-owned, solar photovoltaic (PV) energy systems are sold at a premium compared to homes without PV systems.
- Comparing the results to contributory-value estimates, which are based on income, gross cost and net cost, the researchers found strong, appraisal-based evidence of PV premiums in all of the states examined -- but advised that location, age, size and efficiency must be considered in determining a PV system’s value.
Power up your Indie Brokerage
Don't miss Indie Broker Summit SF, Aug 7, 2017