Currently, there is a need identified by Kennecott Land, as well as others in the real estate, appraisal and building industry to come up with a tool that is simple to use and can accurately value the electricity produced by a solar photovoltaic system. In the appraisal industry, comparable properties are used to help in the valuation of a residential property. Absent a comparable feature such as photovoltaic panels on a neighboring property, it is difficult for appraisers to assign a value to that system. In many cases, photovoltaic systems are assigned a value of $0, which essentially ignores the value of energy being produced and being saved by the homeowner relative to the cost of energy they would otherwise have to purchase from the local utility. There are multiple programs that can calculate the value of the energy produced in terms of the payback period and desired internal rate of return, but none employ the concept of discounting the future value of the energy produced at any period in the expected lifetime of a photovoltaic energy system. By creating this spreadsheet, a necessary gap has been filled. It is the expectation that this product will be included in training programs aimed towards the local appraisal community in Salt Lake County, Utah as well as expand into training offered at the national level through the Appraisal Institute. This software product is an excel spreadsheet that is used to calculate the present value of future energy production for photovoltaic electricity generating systems on residential and commercial properties. Visual Basic (VB) code within the spreadsheet allows user data to be passed to the PVWatts System Advisor Model webservice (http://www.nrel.gov/rredc/pvwatts/) and back into the spreadsheet to estimate the annual solar energy production in Salt Lake County, Utah (as well as anywhere in the U.S.). VB is also used for a discount rate calculation and calls the most current Fannie Mae 30-Year Fixed Rate 60-day commitment.
To order this software or receive further information, please fill out the following request: Request Software
@misc{osti_1231524,
title = {Photovoltaic Energy Valuation Model v 1.0, Version 00},
author = {Klise Jamie Johnson, Geoffrey T.},
abstractNote = {Currently, there is a need identified by Kennecott Land, as well as others in the real estate, appraisal and building industry to come up with a tool that is simple to use and can accurately value the electricity produced by a solar photovoltaic system. In the appraisal industry, comparable properties are used to help in the valuation of a residential property. Absent a comparable feature such as photovoltaic panels on a neighboring property, it is difficult for appraisers to assign a value to that system. In many cases, photovoltaic systems are assigned a value of $0, which essentially ignores the value of energy being produced and being saved by the homeowner relative to the cost of energy they would otherwise have to purchase from the local utility. There are multiple programs that can calculate the value of the energy produced in terms of the payback period and desired internal rate of return, but none employ the concept of discounting the future value of the energy produced at any period in the expected lifetime of a photovoltaic energy system. By creating this spreadsheet, a necessary gap has been filled. It is the expectation that this product will be included in training programs aimed towards the local appraisal community in Salt Lake County, Utah as well as expand into training offered at the national level through the Appraisal Institute. This software product is an excel spreadsheet that is used to calculate the present value of future energy production for photovoltaic electricity generating systems on residential and commercial properties. Visual Basic (VB) code within the spreadsheet allows user data to be passed to the PVWatts System Advisor Model webservice (http://www.nrel.gov/rredc/pvwatts/) and back into the spreadsheet to estimate the annual solar energy production in Salt Lake County, Utah (as well as anywhere in the U.S.). VB is also used for a discount rate calculation and calls the most current Fannie Mae 30-Year Fixed Rate 60-day commitment.},
doi = {},
url = {https://www.osti.gov/biblio/1231524},
year = {Mon Jan 09 00:00:00 EST 2012},
month = {Mon Jan 09 00:00:00 EST 2012},
note =
}
