Rooftop solar systems could increase home value upon sale- Kevin Best, SunFish Solar
Owen Sound, ON/ SunFish Solar : An extensive research study conducted by California’s Berkeley National Laboratory demonstrates that installing a rooftop solar system on existing houses increases resale value.
In the study, approximately 72,000 home sales were surveyed, almost 2,000 of which had rooftop solar systems (or PV systems) installed at the time of sale. The average premium that resulted was nearly $17,000 for a newer “average-sized” home, or a gain of $5.50 per watt.
“This confirms what we have always known but couldn’t prove,” says Kevin Best, a principal of SunFish Solar located in Owen Sound, Ontario. “It’s satisfying to have the home sale premium hypothesis statistically confirmed.” Best goes on to say that in his experience, most Ontarians interested in rooftop solar installations for their home only consider the high rate of return that the investment yields.
The 2011 study was conducted in California for the U.S. Department of Energy, the National Renewable Energy Laboratory and the Clean Energy States Alliance. Like California, Ontario has a robust government-sponsored program in place to encourage solar power generation. It’s called the microFIT program and it guarantees payment at a set rate per kilowatt for the 20-year term of the contract. In most cases, the investment yields building owners a 12% to 14% return.
“Rooftop solar is already a great financial investment,” says Best. “If it will increase the price of your home, should you decide to sell it, then that’s icing on the cake.”
microFIT | Ontario Power Authority: http://microfit.powerauthority.on.ca/
California’s Berkeley National Laboratory study: http://eetd.lbl.gov/ea/emp/reports/lbnl-4476e.pdf
About SunFish Solar
Based in Owen Sound, Ontario, SunFish Solar designs, manufactures and installs top-of-the-line FIT, microFIT and off-grid solar systems across south & central Ontario. Company partners have developed unique systems and components that outperform competing systems on solar generation capability, durability and price. Systems include the company’s signature ground-mounted Micro-Max™ Tracker System and roof-mounted Micro-Max™ Fixed System. For more information, visit http://www.sunfishsolar.ca.
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