Residential Photovoltaic Energy Systems in California: The Effect on Home Sales Prices
Journal Article
·
· Journal of Contemporary Economic Policy
OSTI ID:1213544
Relatively little research exists estimating the marginal impacts of photovoltaic (PV) energy systems on home sale prices. Using a large dataset of California homes that sold from 2000 through mid-2009, we find strong evidence, despite a variety of robustness checks, that existing homes with PV systems sold for a premium over comparable homes without PV systems, implying a near full return on investment. Premiums for new homes are found to be considerably lower than those for existing homes, implying, potentially, a tradeoff between price and sales velocity. The results have significant implications for homeowners, builders, appraisers, lenders, and policymakers.
- Research Organization:
- Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States)
- Sponsoring Organization:
- USDOE Office of Science (SC)
- DOE Contract Number:
- DE-AC02-05CH11231
- OSTI ID:
- 1213544
- Report Number(s):
- LBNL-5539E
- Journal Information:
- Journal of Contemporary Economic Policy, Journal Name: Journal of Contemporary Economic Policy
- Country of Publication:
- United States
- Language:
- English
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