Home Sale Prices Affected by Solar Study finds

You can read the details of the study at Renewables Biz, which goes to some length to dissect their results into determining the dollar value gained per watt in the average household. In the process they overlook another important component of energy efficiency.

From the article:

"To determine whether PV homes sell for significantly more than comparable non-PV homes, Berkeley Lab analyzed a dataset of approximately 72,000 California homes, almost 2,000 of which had PV systems installed at the time of sale. The analysts found strong evidence that California homes with PV systems have sold for a premium over comparable homes without PV systems."

Based on the sample of homes studied, the average home sold for $17,000 more than a comparable home without PV. The average home used 3,100 watts (DC). If you divide 17,000 by 3,100 watts that translates to an added value of $5.50 per watt (DC) generated by the PV system. 

The study found that newer homes with PV had a smaller increase in home price than existing stock. "The research suggests several possible reasons for the lower premium for new homes, including that new home builders may also gain value from PV as a market differentiator, and may therefore have been willing to accept a lower premium in return for faster sales velocity."

The sample size is small, and restricted to California homes. It would be interesting to see if the trend holds true for other areas of the country.

It is also important to remember that prior to the installation of a PV system, home owners are encouraged to retrofit for energy efficiency. An energy retrofit makes the home more comfortable and reduces the amount of electricity needed. An energy retrofit can reduce the size of the PV installation required. Comfort and efficiency is a value unto itself with or without PV.