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Title: Leasing Into the Sun: A Mixed Method Analysis of Transactions of Homes with Third Party Owned Solar

Abstract

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.

Authors:
 [1];  [1];  [2]
  1. Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States)
  2. Adomatis Appraisal Service, Punta Gorda, FL (United States)
Publication Date:
Research Org.:
Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States)
Sponsoring Org.:
USDOE Office of Energy Efficiency and Renewable Energy (EERE)
OSTI Identifier:
1342946
Report Number(s):
LBNL-1007003
ir:1007003
DOE Contract Number:
AC02-05CH11231
Resource Type:
Technical Report
Country of Publication:
United States
Language:
English
Subject:
14 SOLAR ENERGY

Citation Formats

Hoen, Ben, Rand, Joseph, and Adomatis, Sandra. Leasing Into the Sun: A Mixed Method Analysis of Transactions of Homes with Third Party Owned Solar. United States: N. p., 2017. Web. doi:10.2172/1342946.
Hoen, Ben, Rand, Joseph, & Adomatis, Sandra. Leasing Into the Sun: A Mixed Method Analysis of Transactions of Homes with Third Party Owned Solar. United States. doi:10.2172/1342946.
Hoen, Ben, Rand, Joseph, and Adomatis, Sandra. Sun . "Leasing Into the Sun: A Mixed Method Analysis of Transactions of Homes with Third Party Owned Solar". United States. doi:10.2172/1342946. https://www.osti.gov/servlets/purl/1342946.
@article{osti_1342946,
title = {Leasing Into the Sun: A Mixed Method Analysis of Transactions of Homes with Third Party Owned Solar},
author = {Hoen, Ben and Rand, Joseph and Adomatis, Sandra},
abstractNote = {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.},
doi = {10.2172/1342946},
journal = {},
number = ,
volume = ,
place = {United States},
year = {Sun Jan 01 00:00:00 EST 2017},
month = {Sun Jan 01 00:00:00 EST 2017}
}

Technical Report:

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