Research shows solar powered homes are WORTH MORE MONEY
Need another reason to consider going solar? According to research conducted by the U.S. Department of Energy, homes that utilize solar panel technology are worth more money. That is to say, buyers are willing to pay more money for homes with photovoltaic (PV) solar power systems.
Solar Powered Homes Earn $15,000 Resale Premium
A study conducted by Berkeley Laboratory analyzed the sales of homes in eight states from 1999 to 2013 and found that a typical solar panel installation (3.6 kW or about 13 solar panels) translated to a $15,000 premium in resale value.
Our findings should provide greater confidence that PV adds a quantifiable premium to a wide variety of homes in California and beyond.Sandra Adomatis, Co-Author, Selling into the Sun
Intuitively this makes sense, as a home with solar panels should have a lower electricity bill and cost less money to operate compared to that same house without solar. And with residential solar panel installations in Texas providing thousands of dollars in electricity savings each year, we would naturally expect a solar powered home to be more desirable (and thus more valuable).
Related Reading: How much money can you save with solar?
The study also found the existence of a “green cache” or home buyers paying a certain amount for a PV system of any size and incrementally more as system size increased.
The research was supported by funding from the U.S. Department of Energy SunShot Initiative, a national effort to to make solar energy fully cost-competitive with traditional energy sources before the end of the decade.
Click the link below to read the full research report
Selling into the Sun: Price Premium Analysis of a Multi-State Dataset of PV Homes
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