Solar Can Increase Home Value
Did you know a solar PV system can increase the value of a home or commercial building due to electric bill savings over its lifetime? Whether you stay in your home or commercial space and enjoy those savings, or sell and pass on those savings to the next owner, the solar system will pay for itself over time.
According to a 2015 Berkeley Lab report, solar adds at least $15,000 to the value of a home. The study looked at real estate data in eight states (California, Connecticut, Florida, Massachusetts, Maryland, North Carolina, New York, and Pennsylvania) and shows an average selling price increase of $3.75/watt (for example, that would be $18,750 for a 5 kilowatt system). Click here to view the report summary.
With more solar on homes and businesses than ever, and more systems coming, the Appraisal Institute is eager to educate appraisers, assessors, realtors, lenders, builders, architects and other professionals on the value of solar PV systems.
The Appraisal Institute is holding a training event in Nashville to explain solar PV basics including technical lingo, equipment overview, and how to use PV Value, a handy online tool available to anyone that helps estimate the value of solar over the life of a system.
Appraisal Institute’s Residential & Commercial Valuation of Solar training event will be held on October 18-19, 2018, in Nashville, TN. Solar Appraisal Training details and registration are here.
Contact LightWave Solar for your free preliminary estimate!