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 Finance and Sandia National Laboratories published the report with funding by the U.S. Department of Energy's SunShot Initiative.
Click here to download a full copy of the report.
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