Liz Merry, Verve Solar Consulting, and Mary Beth McCabe of Sun Marketing, want to know if the solar PV system on your roof adds value to the home when it’s sold.
“We’re doing the Resale Value of Solar Survey as a volunteer project,” said Merry, “and we’re hoping to publishing a paper on the results in one or more real estate and marketing journals in the Fall. The question of PV resale value is especially timely right now and we hope to shed light on the issue.”
According to Merry, one of the central purposes of the survey is to clarify whether the current industry standard of quoting the “20 to 1” rule is still an accurate metric.
“The 20:1 rule, as widely touted in residential PV sales, is that a home’s value increases $20,000 for every $1,000 reduction in annual operating costs created from PV energy production. “The goal of our study is to clarify where the historical 20:1 rule came from, summarize the state of knowledge about this question, and provide a small sample of buyers and sellers’ actual experience with the value of PV on their home.”
The Resale Value of Solar Survey is available online, open to anyone who bought or sold a solar PV home. It also includes current PV homeowners. The survey is also available for download at SolarInstallData.com if you’re not a solar PV homeowner. According to Merry, all individual response data will be held strictly confidential. For questions about the survey please contact Mary Beth McCabe.