NewEnergyNews: Rooftop Solar Boosts Home Value

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    Thursday, October 10, 2019

    Rooftop Solar Boosts Home Value

    Solar power can boost your home’s value — especially in these 10 states

    Valentina Sachez, October 5, 2019 (CNBC)

    “…Installing solar panels in a home not only helps to reduce current monthly utility bills; it can potentially increase the home’s value by up to 4.1% more than comparable homes with no solar panels, according to recent solar research done by Zillow — or an additional $9,274 for the median-valued home in the U.S…To identify the solar premium in each state, Zillow compared the sale prices of homes with and without solar-energy systems listed for sale and sold within the research period — March 2018 and February 2019. The company examined all transactions that occurred and identified which homes featured solar panels in their listing descriptions, controlling for observable attributes including size, age, location, and market value at the time it was listed for-sale. Zillow also controlled for local market dynamics and the time of the year that the home sold…

    In New Jersey, homes with solar panels can sell for 9.9% more than homes without solar-energy systems. That is a profit of $32,281 for the median-valued home in that state…However, solar premiums can vary within state lines…While the solar premium for the state of Florida is 4%, it increases to 4.6% in Orlando, Florida…In New York City the solar premium is 1.8% more than it is statewide, which translates to $23,989 more in value for the typical home in New York…And in California there are major fluctuations within metro areas: while the solar premium statewide is 3%, in San Francisco, it increases to 4.4%, in Los Angeles to 3.6% , but in Riverside, the solar premium declines to 2.7%...Other states like Utah, did not have enough homes with solar-energy systems installed to identify the solar premium…” click here for more

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