Improve Your Home Equity with Solar Power

Researchers at the Lawrence Berkeley National Laboratory, who looked at home sales — both homes with photovoltaic systems and homes without — in California over an eight-and-a-half-year period ending in mid-2009, finds strong evidence that California homes with PV (Solar) systems have sold for a premium over comparable homes without PV (Solar) systems.

The premium ranged from $3.90 to $6.40 per watt of capacity, but tended most often to be about $5.50 per watt. This, the study said, “corresponds to a home sales price premium of approximately $17,000 for a relatively new 3,100-watt PV system (the average size of PV systems in the study).

And the bottom line: These average sales price premiums appear to be comparable to the investment that homeowners have made to install PV systems in California, which from 2001 through 2009 averaged approximately $5/watt.

Homeowners who install solar on existing houses get nearly three times the premium of homeowners whose house came with solar panels. The study suggests that new home builders may also gain value from PV as a market differentiator, and have therefore often tended to sell PV as a standard (as opposed to an optional) product on their homes and perhaps been willing to accept a lower premium in return for faster sales velocity.

Property Tax Exemption
In the state of California, solar energy systems are property tax exempt! Your investment will not increase your property tax liability, but it will increase the value of your home.


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