[RE-wrenches] PV and home value

[ASAP POWER! 2]

Hi Marco,
Rule of thumb:  for every $1 saved on annual electricity bill, this
translates to $20 value in a certified appraisal.

Contact me off-list for Journal of Appraisers reference document for
back-up.  Applies to any energy saving, money saving equipment attached to
the home and designed to be a permanent fixture to the property or
structures on the property.  

I have seen our solar showcase home offices come right out on spec with this
between appraisals done in early 2006 and early 2007.   In the 2007
appraisal we finally convinced the appraisers to include the value by
showing them the report from JoA.  We showed that we saved a minimum of
$1800 a year, and got a $36,000 boost for our 5.6KW total in two independent
arrays/systems feeding the same meter.   (Both grid-tied, one with battery
backup, one direct).

After extended series of comments directed at zillow.com the extra boost is
clearly visible for our location vs. other non-solar properties in this late
60's neighborhood.  Obviously, this makes the case for solar PV retrofits to
anyone selling homes (including the banks' REO's) out of the growing,
already huge inventory of homes on the not-even-yet-fully-depressed market,
a no-brainer.  

At least it makes sense here in the bell-weather of the residential real
estate market, San Diego, CA area, with all of the free sunshine we have.
What the collapse of the credit and financial markets will do on top of what
the collapsing real estate values are doing to the solar install biz can't
be anything but bad news however.

Sincerely, 
Peter Duchon
Chief of Business Development
Technical Sales & Logistics
Toll Free 866-724-3444

-----Original Message-----
From: re-wrenches-bounces at lists.re-wrenches.org
[mailto:re-wrenches-bounces at lists.re-wrenches.org] On Behalf Of marco
Sent: Monday, September 29, 2008 10:02 PM
To: 'RE-wrenches'
Subject: [RE-wrenches] PV and home value

 
Can anyone point me to any documentation out there as what installing a PV
system on a home does for its resale value?  I mean, I would think that it
would certainly add to it, but would like to see some research backing that
up.

Thanks,
marco 

Marco Mangelsdorf, Ph.D., President
Electrical Contractor License C-26351
69 Railroad Avenue, A-7
Hilo, Hawai'i 96720
(808) 969-3281, 934-7462 facsimile
 

 

 


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