Profile picture for lmr278

Do solar panels boost you asking price?

  • June 17 2012 - Galt
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Answers (8)

Profile picture for user0148963
my salesman says the appraisers standard is currently $17k per each 5kw rating of the system; so a 10kw system would appraise at $34k; with degradation of the cells at .04% (not nearly [new]car depreciation); you will probably lose $1k a year (conservatively).

also, check
http://articles.washingtonpost.com/2011-10-07/news/35278060_1_low-ball-valuations-energy-efficiency-energy-improvements
and 
check
http://geostellar.com/site/geo-blog/how-much-do-solar-panels-add-your-home-value
  • March 07 2013
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Profile picture for blue screen exile
I'm not understanding your units.... do you mean 500 kwh in the winter per billing cycle, and 800 kwh in the summer per billing cycle?

What is your billing cycle?  Here it is 2 months, but many other utilities have monthly bills.

What is your electricity cost?  Here it is about 10 cent per KWhr 

So, 2 * $80 + 4 * $50 = $360 per year savings.

Apply that to the mortgage at 5 % interest, 30 yr fixed, and the value of the system is $5,588.  But then you have to subtract the cost of removal and re-installation  every 20 years when re-roofing... and it essentially becomes a "wash".
  • June 20 2012
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Profile picture for sunnyview
In most markets, they don't. In a few they do a little, but not nearly as much as they usually cost to install. Solar is a selling feature, but even though many buyers are attracted to it, they still seem unwilling to pay substantially more for it.
  • June 20 2012
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From my experience, I have seen solar panels increase the value of a home as little as $5,000 and as much as $30,000. The calculations I have seen have been on a professional Real Estate Appraisal. I have three different articles that were published that educate on the equity-add to your home and how it is calculated in this market. If you would like the articles, give me a shout and I will forward them to you via email.

-Hana Weller
-Solar Consultant
[hotlink removed by Zillow moderator]
  • June 20 2012
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Profile picture for lmr278
Thank you for the input! Our system is professionally installed at 3.2k. We get anywhere from 500-800 k produced depending on summer/winter. We also have a 25 year warranty so ideally they should keep up until then. Just was curious as this is not a normal addition to a house what appraisers would add to the est. price.
  • June 17 2012
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Profile picture for the_country_hick
Solar panels had a tax incentive for buying and installing them. A savvy buyer will automatically remove that incentive from the price. Then a savvy buyer knows a solar panel has a limited lifespan. If the solar panels are more than 7 years old they would be worth less than half of new price. I would dare say almost no value at all because of obsolescence. Think of how a car depreciates. Solar panel would be as bad.

Then the real issue is what will an appraiser do about the solar panels? As solar is not commonly available it may add virtually nothing to the appraised value of the house.

Did I forget to mention that over time solar panels provide less and less electricity as they age?

So far solar does not seem to pencil out. Perhaps one day solar panels will be much more efficient and cheaper. At that time it will become very common. As of now solar is more of an expensive toy than a worthwhile addition. If solar panels really made economic sense almost all new construction would come with them standard. There would also be no need for tax incentives to install them.
  • June 17 2012
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The answer is "it depends". Area of the country, whether or not the install was done well or not and other factors will affect if they'll add any value. In many areas an after market install can actually introduce bigger issues and maintenance problems with a house. Many people don't think about wind being an issue that can cause roofing issues over time if the install was subpar. Depending on the quality of the solar panels, are they enough to allow the house to become fully free of electrical draw? There are some net-zero houses here in Seattle (yes, the place with all the gray skies!) where having solar along with a heat sink and other green features allows the homeowner to get BACK money from the utility company.
  • June 17 2012
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Profile picture for ABBAUSA
I think you could ask a little more since you have invested in Solar Panels, but never expect to get a dollar for dollar return. 

If your installation is of high quality and you are getting to save on electricity then press for a little more, but if your installation is basic and not really saving any money, don't expect much at all.

All items are negotiable, but the new buyer must be energy conscious and value solar.

Good Luck!
James Callas - Realtor® .
  • June 17 2012
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