SOLAR ELECTRIC SYSTEMS HELP HOMES SELL FASTER

Solar photovoltaic (PV) systems typically increased market value and almost always decreased the length of time it took to sell a sample of 30 single-family homes in Denver studied by the Appraisal Institute. Homeowners in the Denver metro area over time increasingly have sought residential homes with PV systems, Appraisal Institute officials pointed out. And because the study looked only at homes in Denver, you shouldn't assume it automatically applies to homes in your area. How much any one home feature, including a PV system, adds to home value is always a moving target, said Appraisal Institute President Richard Borges. Good appraisers monitor the local market for changes in demand for PV systems, just as they do for other property features. One big factor in the value of a PV system is the local cost for electricity. Where electricity costs are high, a PV system will likely have a better return on investment than in an area where electricity is relatively cheap. The age and size of the PV system also influence its value. The Appraisal Institute study found value was most commonly related to the size of the property's PV system, followed by its age. Larger systems typically sell for more than the smaller systems. Overall, the value added per kilowatt (kW) ranged from $1,450 to $2,570.