New research by the U.S. Department of Energy’s Lawrence Berkeley National Laboratory finds that installing a residential solar energy system increases a home’s value by an average of $17,000 or $5,500/kW.
The study analyzed 72,000 California homes sold between 2000 and mid-2009, almost 2,000 of which had solar energy systems. It found that homes with solar sold for an average of $17,000 more than comparable non-solar homes.
Homes with solar power attracted higher offers from buyers who wanted to save money on utility bills and reduce their impact on the environment. The increase home sale prices was comparable to the average cost of system installation, and solar homeowners also enjoyed the benefit of dramatically lower electric bills.
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