What will happen to my property value?
With the increased number of new community solar gardens and residential roof-top solar installations taking place across the country, the question of how solar impacts property values often comes up. At this time the research indicates that there is either a positive increase in property value or no impact at all, depending on the type of solar installed.
According to an analysis by the U.S. Department of Energy Lawrence Berkeley National Laboratory, roof-mounted solar PV panels on households actually increased home property values. The data was comprised of a large dataset of California homes that sold from 2000 through mid-2009 with solar panels installed. The findings show strong evidence that California homes with PV systems have sold for a premium over comparable homes without PV systems.1
In North Carolina, Richard C. Kirkland, Jr., MAI, State Certified General Appraiser, conducted a recent appraisal and analysis of properties located near or next to a solar farm or solar garden. Mr. Kirkland found, “that there is no impact in sale price for residential, agricultural or vacant residential land that adjoins existing or proposed solar farms.” In his Conclusion he states, “Based on the presented information and my experience in appraising land and residential subdivision developments, I conclude that the proposed solar farm will have no negative impact on the adjoining properties and that this is a compatible and harmonious use with the area.”2
Community solar gardens make nice neighbors as they generate no noise, no odor, and less traffic than a residential subdivision. The added bonus is they produce clean, lower cost energy for homeowners and businesses in the area.
1An Analysis of the Effects of Residential Photovoltaic Energy Systems on Home Sales Prices in California http://eetd.lbl.gov/ea/emp/reports/lbnl-4476e.pdf