by Phoebe Chongchua
They might be a costly addition to your home at first but solar panels are boosting a home's resale value, according to a study earlier this year by Lawrence Berkeley National Laboratory.
Homeowners may recoup their full investment from the installation and then some, when their home is sold.
Over a period of approximately a decade, about 2,000 solar homes in California were analyzed by researchers and compared to about 72,000 comparable homes not solar powered.
Here's what the study found that estimates for average photovoltaic (PV) premiums among a large number of different model specifications coalesced at a $17,000 price increase for a relatively new "average-sized" (based on the sample of homes studied) PV system of 3,100 watts (DC).
According to the report, the PV energy system is rapidly growing, especially in California where (at the time of the report) almost 100,000 were installed in mostly residential properties.
However, the report authors indicate that, "Although this research finds strong evidence that homes with PV systems in California have sold, on average, for a significant premium over comparable homes without PV systems, the authors recommend that extrapolation of these results to different locations or market conditions be done with care".
Studies like this one may be influencing builders. KB Homes announced this month that the company is making solar power a standard feature in its homes that are being developed in Southern California beginning next year. This development will apply to 28 home communities, an increase from just 10 communities in March.
To continue reading this article, please visit: RealtyTimes.com
Over a period of approximately a decade, about 2,000 solar homes in California were analyzed by researchers and compared to about 72,000 comparable homes not solar powered.
Here's what the study found that estimates for average photovoltaic (PV) premiums among a large number of different model specifications coalesced at a $17,000 price increase for a relatively new "average-sized" (based on the sample of homes studied) PV system of 3,100 watts (DC).
According to the report, the PV energy system is rapidly growing, especially in California where (at the time of the report) almost 100,000 were installed in mostly residential properties.
However, the report authors indicate that, "Although this research finds strong evidence that homes with PV systems in California have sold, on average, for a significant premium over comparable homes without PV systems, the authors recommend that extrapolation of these results to different locations or market conditions be done with care".
Studies like this one may be influencing builders. KB Homes announced this month that the company is making solar power a standard feature in its homes that are being developed in Southern California beginning next year. This development will apply to 28 home communities, an increase from just 10 communities in March.
To continue reading this article, please visit: RealtyTimes.com
