U.S. homebuyers are willing to spend an extra $15,000 for a home with a typical photovoltaic system, according to a research team led by the Lawrence Berkeley Laboratory.
The study “found that home buyers consistently have been willing to pay more for homes with host-owned solar photovoltaic (PV) energy systems —averaging about $4 per watt of PV installed—across various states, housing and PV markets, and home types,” Phys.org reports. “The team analyzed almost 22,000 sales of homes, almost 4,000 of which contained PV systems in eight states from 1999 to 2013—producing the most authoritative estimates to date of price premiums” for U.S. residential photovoltaics.
- The climate news you need. Subscribe now to our engaging new weekly digest.
- You’ll receive exclusive, never-before-seen-content, distilled and delivered to your inbox every weekend.
- The Weekender: Succinct, solutions-focused, and designed with the discerning reader in mind.
“As PV systems become more and more common on U.S. homes, it will be increasingly important to value them accurately, using a variety of methods,” said co-author and home appraiser Sandra Adomatis. “Our findings should provide greater confidence that PV adds a quantifiable premium to a wide variety of homes in California and beyond.” (h/t to Midwest Energy News for pointing us to this story)
