Research suggests that homeowners with solar PV will recoup the cost of their solar investment upon sale of the home. Homes with PV systems sell for a premium over comparable homes without PV systems, according to a study of home sales in California from 2000-2009 by the Lawrence Berkeley National Laboratory.
Comparing 2,000 solar homes with 70,000 non-solar homes, LBNL found that solar increased the resale value of existing homes by about $6 – $7.7 per watt and new homes by about $2.3 – $2.6 per watt. On average, solar PV added about $5.50 per watt to the home’s resale value.
The study suggests that the premium is comparable to the average net installed cost of the PV system. So, in other words, the system cost will be recouped at sale. In addition, PV owners benefit from electricity cost savings up to the date of sale.
SunRun, a home solar service company based in California, created this infographic based on the study with a link to research on the impact of solar on home values. Long story short, solar creates value.
Article tags: alternative energy, appraisal, infographic