Buyers are willing to pay a premium for homes with solar panels, a study commissioned by the U.S. Department of Energy found.
The Lawrence Berkeley National Laboratory looked at 22,800 home sales, about 4,000 of which had solar photovoltaic (PV) panels, between 2002 and 2013 to determine its findings. It concluded that buyers were willing to pay an average of $15,000 for a home with solar panels.
“Home buyers are consistently willing to pay PV home premiums across various states, housing and PV markets, and home types,” the authors wrote.
The New York Times reported that because the study had a larger sample size than previous analyses, experts find it more reliable.
Though the study looked at how much money the solar panels would fetch based on wattage (the verdict: about $4 per watt), the authors also found that home buyers might be paying extra for the privilege of having any solar panels at all, no matter their size.
“This might indicate that a green cachet exists for photovoltaic homes in our sample,” the authors note. “In other words, buyers might be willing to pay something for having any size of PV system on their homes and then some increment more depending on the size of the system.”
See other articles related to: solar panels
This article originally published at http://dc.urbanturf.com/articles/blog/study_buyers_will_pay_a_premium_for_solar_panels/9561
Most Popular... This Week • Last 30 Days • Ever
DC's homebuyer assistance programs can be a bit complex. This edition of First-Timer ... read »
A look around DC to see where home sellers are dropping their prices.... read »
Just a month after setting a new high in March, the value of a house in DC skyrockete... read »
The new five-level residential project is planned for the buildings at 1365-1375 H St... read »
The grocer has announced plans for other stores in Skyland and Columbia Heights.... read »
Our guide for amateur landlords who don't really know what they're doing.... read »
UrbanTurf has compiled virtual looks at large new developments around the DC region.... read »
The eight-bedroom, 35,000 square-foot home known as The Cliffs hit the market Wednesd... read »
Brookfield Properties is moving forward with development plans for additional sites i... read »
The most detailed rendering yet has been unveiled for the 310-unit redevelopment of t... read »
With this weekend's DC houseboat tour a day away, UrbanTurf thought it only fitting t... read »
President Obama travels to Denver this morning to sign the stimulus bill that has bee... read »
In this week's installment of Ask An Agent, a reader wonders if there is a rule for h... read »
As The Wharf prepares to begin construction, DC's houseboat community heads to its ne... read »
In this week's installment of Ask An Agent, a reader asks a fairly common question th... read »
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Visit guides.urbanturf.com or start browsing below!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro