The U.S. Solar Market Value Report, a first-of-its-kind study, tries to put a dollar value on home values both before and after a solar-energy system has actually been installed. Energy Sense Finance and Sandia National Laboratories published the report with funding by the U.S. Department of Energy’s SunShot Initiative.
Exactly how much does solar energy help to increase a home’s value?
The report is founded on data collected from the PV Value tool which allows appraisers to attribute a value for these energy systems on residential properties. The information contained in the study was obtained from three states where they are frequently 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 included as well valuations for older systems. It discovered that 12-year old solar energy systems that were part of a home sale in 2016 were worth 50 % of the value of new systems that also transacted in 2016. That implies that the systems retains value as time goes by as an element of a home’s value – a monetary savings along with the annual energy savings the homeowner already received.
Prepared to discover what your beautifully staged home might fetch on the market? Contact Nick, Cindy & Nicholas Davis with RE/MAX Premier Group. We are always a just a click here away or call 813-300-7116
