Report: PV Systems Boost Home Prices in California
Monday, April 25th 2011 8:39 AM
By GetSolar Staff.
A recent study from the Lawrence Berkeley National Laboratory, a division of the U.S. Department of Energy, found homes in California that are equipped with solar photovoltaic installations are sold at higher prices than homes without the clean energy setup.
The report discovered homes with photovoltaic arrays sold for approximately $4 to $6.50 per watt over conventionally-powered houses. This equals a total premium averaging $17,000. The price is also good news for California solar panel homeowners, as the current estimated investment is roughly $5 per watt.
"We find compelling evidence that solar PV systems in California have boosted home sales prices," Ben Hoen, lead author of the study and researcher at Berkeley Lab said. "These average sales price premiums appear to be comparable with the average investment that homeowners have made to install PV systems in California, and of course homeowners also benefit from energy bill savings after PV system installation and prior to home sale."
About 2,100 megawatts of solar photovoltaic panels have been installed in the United States, with California leading the country in solar energy production. The state is near 100,000 photovoltaic solar systems in total, and approximately 90 percent of these are for homes.
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A recent study from the Lawrence Berkeley National Laboratory, a division of the U.S. Department of Energy, found homes in California that are equipped with solar photovoltaic installations are sold at higher prices than homes without the clean energy setup.
