<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN">
<HTML><HEAD>
<META http-equiv=Content-Type content="text/html; charset=iso-8859-1">
<META content="MSHTML 6.00.2900.6058" name=GENERATOR></HEAD>
<BODY>
<DIV><SPAN class=656312812-23032011><FONT face=Arial>While the Appraisal
Institute model is about the only widespread reference point available, it too
lacks strong credibility due to the perception that it's out dated information
and nothing else confirms its conclusion. Many in the anti-RE
realm point to the fact that F/F&FHA don't support the
premise that energy saving has real value and use F&F as a valid reason,
along with the "...no credible evidence" argument, not
to.</FONT></SPAN><SPAN class=656312812-23032011><FONT face=Arial>
</FONT></SPAN></DIV>
<DIV><SPAN class=656312812-23032011><FONT face=Arial>F&F are private
mortgage investment corporations that are supported with taxpayer money,
money that kept them from collapsing under the weight of their own bad
mortgage investments. Their dislike of any pro-renewable program [PACE
comes instantly to mind] is grounded in their perception that the low risk
design that makes PACE so desirable to cities and homeowners is a financial
risk to the private investors returns. </FONT></SPAN></DIV>
<DIV><SPAN class=656312812-23032011><FONT face=Arial>The logic is: homeowner
with PV defaults, taxing authority bonds are exempt from risk, investment
banks are left holding the bag, investors lose pennies. </FONT></SPAN></DIV>
<DIV><SPAN class=656312812-23032011><FONT face=Arial>Those investors lobbyists
pushed back up the chain of authority to, among other things, seriously
wound California's own voter approved and taxpayer friendly version of
PACE. As usual the taxpayers lost much of the the momentum that had brought them
so close to creating another national standard for renewable energy
financing without taxpayers having to foot the bill before the investment cartel
pulled the rug out from under us. </FONT></SPAN></DIV>
<DIV><SPAN class=656312812-23032011><FONT face=Arial>The FHA, being nothing more
than a hand-puppet for the mortgage industry, nodded in agreement
and brandished their rubber stamp of approval.</FONT></SPAN></DIV>
<DIV><SPAN class=656312812-23032011><FONT face=Arial>The factual and irrefutable
data proving beyond any doubt that homes & businesses with PV are worth more
should be an immediate goal for the RE industry. While that proof, if it
even exists, might not open the investment floodgates, it would
however open more doors for investors which moves our industry a step
closer to reaching critical mass.</FONT></SPAN></DIV>
<DIV><SPAN class=656312812-23032011><FONT face=Arial></FONT></SPAN> </DIV>
<DIV><SPAN class=656312812-23032011><FONT face=Arial>my 2¢</FONT></SPAN></DIV>
<DIV><SPAN class=656312812-23032011><FONT face=Arial>Jim
Duncan</FONT></SPAN></DIV>
<DIV><SPAN class=656312812-23032011></SPAN><FONT face=Tahoma size=2><SPAN
class=656312812-23032011></SPAN><FONT face=Arial><FONT size=3>P<SPAN
class=656312812-23032011>V installer & financial
know-it-all </SPAN></FONT></FONT><BR></DIV></FONT>
<BLOCKQUOTE>
<TABLE cellSpacing=0 cellPadding=0 border=0>
<TBODY>
<TR>
<TD vAlign=top>
<BLOCKQUOTE
style="PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: rgb(16,16,255) 2px solid">From:
Jamie Johnson <jjohnson@spefl.com><BR><BR>
<DIV id=yiv580696284><SPAN
style="FONT-SIZE: 10pt; COLOR: rgb(0,0,0); FONT-FAMILY: Verdana">
<DIV>Keith & Joel,</DIV>
<DIV> </DIV>
<DIV>The old metric was $20 in value for each $1 saved in energy,
however the Appraisal Institute has not supported that valuation
metric for some time now and neither has Fannie, Freddie or FHA.</DIV>
<DIV> </DIV>
<DIV>Using the gross sales price that the customer paid for PV as a
valuation number was also shot down.</DIV>
<DIV> </DIV>
<DIV>And unfortunately most regional MLS databases don't provide a
category for solar electric, solar hot water or solar pool heaters, so
that makes it difficult for an appraiser to use the sales comparison
approach.</DIV>
<DIV> </DIV>
<DIV>A year ago I began developing a valuation model for PV for the
Appraisal Institutes Educational Committee and they are now
incorporating parts of it into their training programs on
"valuation of sustainable buildings" for appraisers.
Earlier this year DOE awarded a grant to Sandia Natl Lab to
essentially do the same thing for the Solar America Cities
program (soon to be the Solar America Communities
program) and they have since picked up my work on the valuation
model.</DIV>
<DIV> </DIV>
<DIV>A proof of concept spreadsheet (which takes all of the fun out of
it) and pdf explanation of the
valuation model should be released this summer. I
will provide the download link to the list when it is available.
</DIV>
<DIV> </DIV>
<DIV>It's important to note that any valuation model for PV needs
to be accepted by Fannie, Freddie and FHA before it is relied on
and quoted by the PV industry. There are currently ongoing
discussions between FF&F, AI and DOE on PV valuations and
hopefully they will resolve the PV valuation issues for loan
transactions soon. </DIV>
<DIV> </DIV>
<DIV>Jamie Johnson</DIV>
<DIV>NABCEP Certified PV Technical Sales Professional
PVTS012911-44</DIV>
<DIV>NABCEP Certified Solar PV Installer 031310-118</DIV>
<DIV> </DIV>
<DIV>General Manager</DIV>
<DIV>SOLAR POWER ELECTRIC<BR></DIV>
<DIV><BR></DIV>
<DIV><SPAN style="FONT-SIZE: 8pt"><SPAN
style="COLOR: rgb(51,102,255)"><STRONG><SPAN
style="COLOR: rgb(0,0,255)"><IMG title="signature image" alt=""
src="cid:656312812@23032011-1f7e"
border=0></SPAN></STRONG></SPAN></SPAN></DIV>
<DIV> </DIV>
<DIV> </DIV>
<BLOCKQUOTE id=yiv580696284replyBlockquote
style="PADDING-LEFT: 8px; FONT-SIZE: 10pt; MARGIN-LEFT: 8px; BORDER-LEFT: blue 2px solid; COLOR: black; FONT-FAMILY: verdana">
<DIV id=yiv580696284wmQuoteWrapper>-------- Original Message
--------<BR>Subject: [RE-wrenches] Value of PV system to a
home<BR>From: Keith Cronin <<A
href="/mc/compose?to=electrichi01@yahoo.com" target=_blank
rel=nofollow
ymailto="mailto:electrichi01@yahoo.com">electrichi01@yahoo.com</A>><BR>Date:
Tue, March 22, 2011 2:57 am<BR>To: RE-Wrenches <<A
href="/mc/compose?to=re-wrenches@lists.re-wrenches.org"
target=_blank rel=nofollow
ymailto="mailto:re-wrenches@lists.re-wrenches.org">re-wrenches@lists.re-wrenches.org</A>><BR><BR>
<DIV
style="FONT-SIZE: 10pt; COLOR: rgb(0,0,0); FONT-FAMILY: arial,helvetica,sans-serif; BACKGROUND-COLOR: rgb(255,255,255)">
<DIV>Hi</DIV>
<DIV><BR></DIV>
<DIV
style="FONT-SIZE: 13px; COLOR: rgb(0,0,0); FONT-STYLE: normal; FONT-FAMILY: arial,helvetica,sans-serif; BACKGROUND-COLOR: transparent">Was
wondering if anyone has any new data points on the additional value
a PV system adds to the home?</DIV>
<DIV><BR></DIV>
<DIV
style="FONT-SIZE: 13px; COLOR: rgb(0,0,0); FONT-STYLE: normal; FONT-FAMILY: arial,helvetica,sans-serif; BACKGROUND-COLOR: transparent">If
someone spends $X for a system and saves $Y a month/year, how is
this being calculated?</DIV>
<DIV><BR></DIV>
<DIV
style="FONT-SIZE: 13px; COLOR: rgb(0,0,0); FONT-STYLE: normal; FONT-FAMILY: arial,helvetica,sans-serif; BACKGROUND-COLOR: transparent">Do
we have actuaries with enough empirical data to suggest what the
numbers would look like?</DIV>
<DIV><BR></DIV>
<DIV
style="FONT-SIZE: 13px; COLOR: rgb(0,0,0); FONT-STYLE: normal; FONT-FAMILY: arial,helvetica,sans-serif; BACKGROUND-COLOR: transparent">Realizing
alot has to do with location, current cost per kWh of electricity
etc.</DIV>
<DIV><BR></DIV>
<DIV
style="FONT-SIZE: 13px; COLOR: rgb(0,0,0); FONT-STYLE: normal; FONT-FAMILY: arial,helvetica,sans-serif; BACKGROUND-COLOR: transparent">Could
have swore there were some studies done to imput the value of two
homes on the same street, one with solar and one without- for some
granular details on the delta in values.</DIV>
<DIV><BR></DIV>
<DIV
style="FONT-SIZE: 13px; COLOR: rgb(0,0,0); FONT-STYLE: normal; FONT-FAMILY: arial,helvetica,sans-serif; BACKGROUND-COLOR: transparent">Thanks</DIV>
<DIV><BR></DIV>
<DIV>Keith<BR></DIV></DIV></DIV></BLOCKQUOTE></SPAN></DIV><BR></BLOCKQUOTE></TD></TR></TBODY></TABLE><BR></BLOCKQUOTE></BODY></HTML>