Will a Solar Array Increase my Home’s Value?

Solar Appraisal

As a REALTOR® , I am asked if solar systems increase the value of a home for sale. My short answer is “yes” – solar PV definitely adds a premium to a home’s value; however, quantifying that additional value depends to some extent on the appraisal process.

Ben Hoen, a researcher with the U.S. Department of Energy’s Lawrence Berkeley National Laboratory, and Sandra Adomatis, an appraiser and specialist in appraisal of solar systems, authored “Appraising into the Sun: Six-State Solar Home Paired-Sales Analysis”. This report was based on a 2015 study of samples taken from a database of 4000 home sale transactions in California, Florida, Maryland, North Carolina, Oregon and Pennsylvania, combined with an evaluation of 43 pairs of home sales in local markets within each of these states, thus combining the paired sales method typically used by appraisers, in which the sale of a home with solar PV is compared with the sale of a comparable home without PV, with a statistical analysis of the larger database . The report concluded that the average premium for a home with PV in this study varied from 2.5% to 6.4% of the sale price, depending on the location.

Home Energy Score

 

Energy Star Homes logo

Almost two decades ago the Energy Star rating system was introduced to help consumers understand something about the energy requirements of one product compared to another. The idea is that even a little bit of information posted on an appliance can get people thinking about saving energy and saving money.

Wood, Electric, and Propane! Oh My!!

I live in a 1000 square foot house which has three different means of heating: wood, propane, and electric. I currently heat the house primarily with the wood stove and use the electric as backup source. I think the advantage of using the electric as back up is that I can set it to a much lower temperature than my propane wall heater and I can keep it on only in locations where I am concerned about pipes freezing. I’m not 100% it wouldn’t be better to use the propane as back up but that’s a topic for another post.

Why Net Metering Supports the Grid

The future of interconnection of solar arrays to the utility grid in NH, net metering, is being taken up by the State Legislature this session. As the Utilities have met their minimum (“solar cap”) and are not required to allow interconnection of solar arrays to the grid, the natural question of what is next for solar automatically arises.   

First it is important to understand why we need the grid. The power grid provides electricity to many customers across a large region.  The grid has the ability to

Is My Solar System Working?

For a homeowner who recently installed a solar PV (photo-voltaic) system, a critical question they should ask is, “Is it working?”. One way to know that your solar panels are producing electricity is to review your monthly bill and compare it to the same month last year.