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Study: Solar panels raise home values

PUNTA GORDA, Fla. – Nov. 18, 2015 – Sandra K. Adomatis, an Appraisal Institute member who specializes in the valuation of green houses, produced a study that found residences with host-owned solar photovoltaic (PV) energy systems are sold at a premium versus homes without PV systems.
Adomatis of Punta Gorda, Florida, engaged a team of seven appraisers across a half-dozen states to determine the value added to homes with host-owned PV systems. Titled Appraising Into The Sun: Six-State Solar Home Paired-Sales Analysis, the research was released by the U.S. Energy Department’s Lawrence Berkeley National Laboratory. It analyzed comparable sales of 43 homes in California, Florida, Maryland, North Carolina, Oregon and Pennsylvania.
For each of the properties, the research team generated contributory-value estimates based on gross cost (PV cost before incentives), net cost (PV cost after incentives) and income (value of energy savings from PV systems, calculated using the PV Value tool).
The investigators found that location, age, size and efficiency must be taken into account when determining the value of a PV system. They also discovered that value is impacted by local factors such as the cost of electricity and any local incentives provided for those who own a PV system.
Source: National Mortgage Professional Magazine (11/12/15)
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Source: Florida Realtors Feed

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