Solar Power Adds A Premium To A Home's Resale Value

by Nora Caley from Solar Industry Magazine

Residential real estate professionals know that amenities such as a renovated kitchen or a new bathroom can increase the resale value of a home. New research from the Lawrence Berkeley National Laboratory indicates that a rooftop photovoltaic system can also increase the house’s price, and researchers were able to quantify how much of a premium solar can command.

In December of last year, the Berkeley Lab released a report noting that although the installation of photovoltaic projects is increasing, appraisers and other real estate industry professionals often assign no value to a home’s PV systems. Tools such as the PV Value spreadsheet from Sandia National Laboratories and Energy Sense Finance are available to mortgage professionals but are not widely used.

The report, “Exploring California PV Home Premiums,” posits that “the drivers underlying PV home premiums are not well understood, which may deter some appraisers from assigning value to PV systems.”

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