Solar Increases Home Values

Quote from research results published by Berkeley National Laboratory

"The research finds strong evidence that homes with PV systems in California have sold for a premium over comparable homes without PV systems. More specifically, estimates for average PV premiums range from approximately $3.9 to $6.4 per installed watt (DC) among a large number of different model specifications, with most models coalescing near $5.5/watt. That 46 value corresponds to a premium of approximately $17,000 for a relatively new 3,100 watt PV system (the average size of PV systems in the study). These results are similar to the average increase for PV homes found by Dastrop et al. (2010), which used similar methods but a different dataset, one that focused on homes in the San Diego metropolitan area. Moreover, these average sales price premiums appear to be comparable to the average net (i.e., after applicable state and federal incentives) installed cost of California residential PV systems from 2001-2009 (Barbose et al., 2010) of approximately $5/watt, and homeowners with PV also benefit from electricity cost savings after PV system installation and prior to home sale."

 

Source: Section 5. Conclusions, Pages 45-46. Link to Full Research Paper: "An Analysis of the Effects of Residential Photovoltaic Energy Systems on Home Sales Prices in California"