Two members of the Appraisal Institute contributed to a landmark study released by the U.S. Department of Energy’s Lawrence Berkeley National Laboratory that found that home buyers consistently have been willing to pay more for homes with host-owned solar photovoltaic energy systems.
Sandra K. Adomatis, SRA, of Punta Gorda, Florida, and Thomas O. Jackson, Ph.D., MAI, of College Station, Texas, were part of a multi-institutional research team of scientists led by Berkeley Lab, in partnership with Sandia National Laboratories, universities and real estate appraisers.
“The role that these two Appraisal Institute members played in this important study is typical of the thought leadership our organization provides,” said Appraisal Institute President M. Lance Coyle, MAI, SRA. “As the nation’s largest professional association of real estate appraisers, our membership includes some of the highest qualified, best educated and most experienced valuation professionals in the world.”
The study – “Selling into the Sun: Price Premium Analysis of a Multi-State Dataset of Solar Homes” – found that buyers were willing to pay an average of about $4 per watt of PV installed – across various states, housing and PV markets, and home types. This equates to a premium of about $15,000 for a typical 3.75 kW PV system.
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