Dive Brief:
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Homebuyers are willing to pay more for houses that include rooftop solar systems, a study by Lawrence Berkeley National Laboratory showed.
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Photovoltaic panels increase a home’s value by approximately $4 per watt, the study said. That can add $15,000 to the selling price of a home that includes an average-size, 2.6-kilowatt rooftop array.
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The report indicated, however, that the systems depreciate sharply as they age. And the study data includes only homeowner-owned solar systems, not those that the homeowner rents through a third party.
Dive Insight:
The findings, based on data from 22,822 home sales in eight states, could change the way appraisers value homes. Mortgage broker Fannie Mae has already advised appraisers to adjust their assessments for homes with solar panels in markets where they have high value in the eyes of potential homebuyers.