Solar panels increase house prices.

[bcroe]

Solar Resale Value

Real estate is local. Most upgrades are not valued the same nationwide or worldwide. If I built a tornado shelter in CA not really going to help sell my house as it might in the Midwest. We work with national banks that currently add 80% of the cost of the solar array to the appraised value of the home. This is in CA. The banks we work with feel it adds about 80% of the cost to value of the home. They put it in writing its not anecdotal or a study its real dollars and cents.

If there is a 30% federal rebate, seems like you are already in the black. Meantime the daily benefits keep
adding to that. Illinois claims another $10K, but I haven't seen it yet.

Some of us do "improve their own comfort", so the resale is only secondary. And not everyone has a mortgage.
I think a system should be as simple as possible for the next owner to maintain, or it might be considered
a liability. Like, no batteries, no roof mounts, no constant attention required.

Questions to be answered here. Will it increase property value? Should insurance be increased, and
should it only be done for the fraction of panel replacement for storm damage? Bruce Roe

[russ]

The banks we work with feel it adds about 80% of the cost to value of the home. They put it in writing its not anecdotal or a study its real dollars and cents.

Good information!

[SoCalsolar]

Added value..

Real estate is local. Most upgrades are not valued the same nationwide or worldwide. If I built a tornado shelter in CA not really going to help sell my house as it might in the Midwest. We work with national banks that currently add 80% of the cost of the solar array to the appraised value of the home. This is in CA. The banks we work with feel it adds about 80% of the cost to value of the home. They put it in writing its not anecdotal or a study its real dollars and cents.

[t5800512]

Sunking, you are absolutely correct. It showed up in my "new posts", and I did not look at the date of origin.

[Sunking]

Guys, I believe he said his property was in Wales. He is probably not concerned with retained value in the states.

It is a 2 year old post. Who are you talking too? Ghost?

[t5800512]

Guys, I believe he said his property was in Wales. He is probably not concerned with retained value in the states.

[russ]

One link in the previous post was about baseboard heat covers to hide the appearance - no big deal. Super expensive for what amounts to a screen at 22$ per linear foot.

[adamsutton]

People renovate their homes for two reasons: to make the home easier to sell or to improve their own comfort. In either case, it’s a good idea to get an appraiser’s idea of what the projected impact of the renovation will be on the home value. The home’s final value can influence insurance premiums and mortgage payments. If the point of the remodel is to increase the home’s value, an appraiser can help you figure out how much of what you spend will be recouped when you sell. Of course, one should understand investment and return, how to prioritize projects, and invest in expert opinion. Home appraisers don’t come free, with fees ranging from $500 to $1000, but their advice can be priceless. Some real estate agents are also appraisers, however, and they may offer the service free of charge as long as you give them your business when you sell. Learn more about raising the value of your homes [Mod.: Removed link.]
Mod note - I don't know your aim but links and ads are not allowed.

[Sunking]

Keith it really depends on the Market. Choosing AZ to base the study is heavily biased because between the federal, state, and local POCO incentives pay for more than 60% of the cost of installation.

States in which electricity is inexpensive like here in TX, adding a solar system only nets you 30% of the installed value, so you loose 70% of your money before the switch is turned on with respect to property value. If you use a loan, the quite a bit more, and most likely you end up writing a check to sell your home because you would be upside down at closing to pay off the loan.

It is just not TX, in any state that is a net energy producer with inexpensive electric rates with no state or local incentives, and there are a lot of them... A good model in TX if you pay the POCO $100 per month and switch to solar with a loan, you now pay $300/month for 10 years loan payment, and $30/month to the POCO for connect and distribution charges plus any power you might buy. In TX there is no NET METERING Laws and the POCO only pays you wholesale prices of $.05/Kwh and charge $.10/Kwh for what you use in most cases.

[Keith]

Studies Show that Solar Panels Increase the Value of Your Home

With values of homes falling throughout the country, homeowners are necessarily concerned about how much of their upfront investment they will see back if they install a solar energy system on their home. We posed this question in a blog entry under the title Do Home Solar Panels Add to the Value of Your Home earlier this year. When we asked that question, we were not certain about the answer and the studies that were then available were somewhat outdated. So we took a sample of homes in one market, in Arizona, to see whether we could come up with a more rigorous answer. We were able to come up with some very interesting data that showed that solar panels add to the value of your home. At about the same time that our study appeared, a very significant effort from the National Bureau of Economic Research was published. We surveyed the relevant three studies and their various approaches in an article about how solar panels increase the value of your home, and summarized the results from our study. As reflected in that article, the short answer is that a PV system will increase the value of your home, you will probably get back most if not all of your investment, but the actual amount that you can expect to recover differs based on the methodology of the study that you choose to follow.

[Sunking]

But there is big advantage for installing solar panels in your home that you can save on your electricity bill.

You are joking right? Here in TX it will cost you roughly 3 times more for the life of the system.

[mark147]

But there is big advantage for installing solar panels in your home that you can save on your electricity bill.

[Sunking]

What did you mean by that? Curious.

States like NJ your neighbors are forced to pay most of the cost like they do in CA, AZ, & WS

[poconoman]

I was thinking CA, AZ, and WS. Forgot about the northeast areas. like NJ where they give systems away.

Hi sunking, I saw your post "I was thinking CA, AZ, and WS. Forgot about the northeast areas. like NJ where they give systems away."

What did you mean by that? Curious.

Thanks

[Mike90250]

I assume that home was in California?

Yes, in California. The only consession at the time was the added PV gear did not add to the property tax.