Monday, January 27, 2014

Solar Increases the Value of a Home

A recent study done by the Lawrence Berkeley National Laboratory claims that rooftop solar increases a home's resale value, making them the new granite countertops of home improvement strategies. 

Researchers examined 1,894 PV homes sold in California from 2000 through 2009 and compared them to 70,425 non-PV homes sold over the same period and in the same neighborhoods. After controlling other factors affecting the sale prices, the PV homes were found to be "driving" the premiums. The 2011 Barkeley Lab study also found that larger PV systems resulted in larger premiums; for every 1 kW increase in the system size, the premium increased $5,911. 

Although a home's value varies for each geographical location, the 65% tax credit available in North Carolina in addition to the added value of a home and immediate savings make the investment in solar instantly equitable. 


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