Leasing Into the Sun: A Mixed Method Analysis of Transactions of Homes with Third Party Owned Solar
- Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States)
- Adomatis Appraisal Service, Punta Gorda, FL (United States)
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.
- Research Organization:
- Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States)
- Sponsoring Organization:
- USDOE Office of Energy Efficiency and Renewable Energy (EERE)
- DOE Contract Number:
- AC02-05CH11231
- OSTI ID:
- 1342946
- Report Number(s):
- LBNL-1007003; ir:1007003
- Country of Publication:
- United States
- Language:
- English
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