This analysis is the first to examine if homes with third-party owned (TPO) PV systems are unique in the marketplace as compared to non-PV or non-TPO PV homes. This is of growing importance as the number of homes with TPO systems is nearly a half of a million in the US currently and is growing. A hedonic pricing model analysis of 20,106 homes that sold in California between 2011 and 2013 is conducted, as well as a paired sales analysis of 18 pairs of TPO PV and non-PV homes in San Diego spanning 2012 and 2013. The hedonic model examined 2,914 non-TPO PV home sales and 113 TPO PV sales and fails to uncover statistically significant premiums for TPO PV homes nor for those with pre-paid leases as compared to non-PV homes. Similarly, the paired sales analysis does not find evidence of an impact to value for the TPO homes when comparing to non-PV homes. Analyses of non-TPO PV sales both here and previously have found larger and statistically significant premiums. Collection of a larger dataset that covers the present period is recommended for future analyses so that smaller, more nuanced and recent effects can be discovered.
}, year = {2017}, month = {01/2017}, note = {Webinar Presentation PDF to be available in late March 2017
Summary of TPO Contracts Presentation PDF
A related survey of buyers, sellers, and realtors involved in TPO transactions in San Diego can be found here.
}, }