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How Much Does Solar Energy Add To A Homes Value
How much does solar energy add to a home’s value?
TAMPA, Fla. – Oct. 27, 2017 – The U.S. Solar Market Value Report, a first-of-its-kind study, attempts to put a dollar value on home values before and after a solar-energy system has been installed. Energy Sense Financeand Sandia National Laboratories published the report with funding by the U.S. Department of Energy's SunShot Initiative.
The report is based on data collected from the PV Value tool that allows appraisers to attribute a value for solar energy systems on residential properties. The data included in the study was taken from three states where solar is commonly installed: California, Arizona and Massachusetts.
The report reveals that the mean value for a solar energy system in 2016 was: $3.93/watt in California, $2.17/watt in Massachusetts and $2.34/watt in Arizona.
The report also included valuations for older systems. It found that 12-year old solar energy systems that were part of a home sale in 2016 were worth 50 percent of the value of new systems that also transacted in 2016. That suggests that solar retains value over time as part of a home's value – a monetary savings in addition to the annual energy savings the homeowner already received.
© 2017 Florida Realtors
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