An Analysis of Solar Home Paired Sales across Six States

An Analysis of Solar Home Paired Sales across Six States

TitleAn Analysis of Solar Home Paired Sales across Six States
Publication TypeJournal Article
Year of Publication2016
AuthorsSandra Adomatis, Ben Hoen
JournalThe Appraisal Journal
Volume84
Issue1
Pagination27-42
Date Published04/2016
ISSN0003-7087
Abstract

Solar photovoltaic (PV) installations on some US homes still receive no value during an appraisal because comparable home sales are lacking. This first-of-its-kind study uses appraisal methods to evaluate sale price premiums for owned PV systems on single-unit detached houses across six states that were also evaluated in a large statistical study. The results provide strong, appraisal-based evidence of PV premiums in all the states studied, and the results support use of cost- and income-based PV premium estimates when paired sales analysis is impossible. The appraised premiums agree with statistical modeling results, which bolsters the suitability of both approaches for estimating PV home premiums.

Notes

Reprinted with permission from The Appraisal Journal (Winter, 2016). © 2016 by the Appraisal Institute, Chicago, Illinois

This paper received the 2016 Armstrong/Kahn Award for the most outstanding original article published in The Appraisal Journal during the previous year.

This paper was based on work published in a larger LBNL report found here.

LBNL Report Number

LBNL-1005058