Natural Health

Healthy living, herbal remedies and DIY natural beauty.

Add to My MSN

Solar-Powered Homes Sell for More, Report Finds

5/3/2011 4:19:05 PM

Tags: solar panels increase resale value, solar power, solar-powered homes, Lawrence Berkeley Lab, Robyn Griggs Lawrence

Robyn Griggs Lawrence thumbnailIn yesterday’s post about living off the grid, Morgana Wyze and Matt Stoll share that they've garnered top dollar for two homes they've sold because they had equipped the houses with solar panels. That anecdotal evidence is compelling, especially because it’s backed up by a recent report from Lawrence Berkeley Laboratory, which found that California homes with a 3.1-kilowatt photovoltaic array sell for $17,000 more than homes without solar capability.

“This is a sizable effect,” Ryan Wiser, a staff scientist at the Lab and a coauthor of the report, said in a statement. “This research might influence the decisions of homeowners considering installing a PV system and of home-buyers considering buying a home with PV already installed.”

Berkeley Lab analyzed approximately 72,000 California homes, almost 2,000 of which had PV systems installed at the time of sale. The research finds strong evidence that homes with PV systems sold for a premium over comparable homes without PV systems.

Todd Woody analyzes the report this way on Grist: “Buy a house in a new subdivision where solar comes standard and your home values could rise between around $7,000 and $8,000. Purchase an older home with a solar array, and the value rises by $18,000 or more. (That’s assuming a 3.1-kilowatt array has been installed.)” Differences in installation costs and homebuilders’ willingness to discount the price of solar systems to increase sales explain the disparity, Woody writes.

“New homebuilders may 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 and decreased carrying costs,” the report states. Additional questions warrant further research, such as investigating more-recent home sales from a broader geographic area and further investigating the difference in premium between new and existing PV homes, the report states.

 doucette shed 

Solar panels increase a home's resale value, a Lawrence Berkeley Laboratory report found. Photo by Michael Shopenn



Related Content

It’s Almost Time for the 2009 Solar Decathlon

Student teams prepare to compete in the U.S. Department of Energy hosted, fourth biyearly Solar Deca...

Certified Green Homes Sell for 30% More in Oregon

  Existing homes that are certified as “green” sold for 30 percent more than homes without such a d...

Living Off the Grid: It Doesn’t Get Any Better Than This

Since they built their solar- and wind-powered cordwood home in Desboro, Ontario, Lisa and Ray Racic...

Building SIPsmart: HVAC and Serious Windows

Michael Morley is posting regular updates about his progress building a unique green home with struc...

Content Tools




Post a comment below.

 










Subscribe Today - Pay Now & Save 66% Off the Cover Price

First Name: *
Last Name: *
Address: *
City: *
State/Province: *
Zip/Postal Code:*
Country:
Email:*
(* indicates a required item)
Canadian subs: 1 year, (includes postage & GST). Foreign subs: 1 year, . U.S. funds.
Canadian Subscribers - Click Here
Non US and Canadian Subscribers - Click Here

Lighten the Strain on the Earth and Your Budget

MOTHER EARTH NEWS is the guide to living — as one reader stated — “with little money and abundant happiness.” Every issue is an invaluable guide to leading a more sustainable life, covering ideas from fighting rising energy costs and protecting the environment to avoiding unnecessary spending on processed food. You’ll find tips for slashing heating bills; growing fresh, natural produce at home; and more. MOTHER EARTH NEWS helps you cut costs without sacrificing modern luxuries.

At MOTHER EARTH NEWS, we are dedicated to conserving our planet’s natural resources while helping you conserve your financial resources. That’s why we want you to save money and trees by subscribing through our earth-friendly automatic renewal savings plan. By paying with a credit card, you save an additional $5 and get 6 issues of MOTHER EARTH NEWS for only $12.00 (USA only).

You may also use the Bill Me option and pay $17.00 for 6 issues.