WASHINGTON – The Solar Energy Industries Association (SEIA) and Vote Solar released the following statement today applauding findings in the Lawrence Berkeley National Laboratory’s new study on the positive effect that photovoltaic systems have on home value in California.
“Families across the country are turning to solar energy to cut their electricity bills and add value to their homes,” said Tom Kimbis, SEIA’s Director of Policy and Research. “The Lawrence Berkeley study shows that solar can be a solid investment for homeowners and a revenue generator for homebuilders. This report adds to previous findings that homes with solar sell faster than those without it."
“Installing solar reduces ownership costs and increases resale value. Now that’s a value proposition,” said Adam Browning, Executive Director of the Vote Solar Initiative.
The new study finds that homes in California that include PV installations sold for a premium of approximately $3.9 to $6.4 per watt. The finding corresponds to an average home sales price premium
of approximately $17,000 for a relatively new, typical size PV system.
This was the first research to collect and analyze data on the existence and extent of residential PV sales prices impact across a large number of homes and over a wide geographic area.
Established in 1974, the Solar Energy Industries Association® is the national trade association of the U.S. solar energy industry. Through advocacy and education, SEIA is working to build a strong solar industry to power America. As the voice of the industry, SEIA works with its 1,000 member companies to make solar a mainstream and significant energy source by expanding markets, removing market barriers, strengthening the industry and educating the public on the benefits of solar energy.