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.
}, year = {2016}, journal = {The Appraisal Journal}, volume = {84}, pages = {27-42}, month = {04/2016}, publisher = {The Appraisal Institute}, issn = {0003-7087}, note = {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.
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