How much value does solar add to a home?

Asked by Jon, Niskayuna, NY Tue Jul 1, 2008

Solar companies claim that every $1000 of annual savings translates to $20,000 on the value of a house (e.g. http://grosolar.com/solar_faqs/#sell ). I'd like to hear what brokers think of this, especially in southern California. Thanks.

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Keith Sorem, Agent, Glendale, CA
Tue Jul 1, 2008
Solar is still in its infancy. I spoke with a client and he figures it will take five years, then he'll be making money from the local utility.

As energy costs spiral anything that an reduce a home's energy cost is a plus. However, there are few homes in my SoCal market that have solar. You are simply ahead of your time (which is a good thing).

So far as home value goes, I would say that in my market it is location and condition that dictate price. All things being equal, solar would help, but for most I don't think it would be a tipping point...however, solar heating the pool might be a plus/
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