Solar PV may add premium to house price
Posted by Cathy Debenham on 9 May 2011 at 10:20 am
There is strong evidence that homes with solar PV systems have sold for a premium over comparable homes without solar PV. Researchers at the University of California, Berkeley found that a 3.1kW PV system added an average premium of $17,000 (just over £10,000) to house prices.
A study done in San Diego in 2010 also found similar results.
As far as I can see, no similar study has been done in the UK. However, this research gives early adopters optimism, that they may be able to more or less recoup their investment if they sell their home only a short time after installing solar panels.
My view is, that for this to happen we still need greater understanding about renewable energy and its benefits among the general population. Estate agents have a role to play in this, and anecdotal evidence indicates that they unless they improve their understanding of solar PV and other renewable technologies, they won't promote them to potential buyers.
There's plenty of people out there giving advice on how to make your house more saleable - but mostly it's about (often quite superficial) visual aspects. How about a campaign to increase the understanding of a house's energy performance certificate and what it means for the comfort of a house, and the expense of heating it.
Photo: Wichita Renewable Energy
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