THE OHMHOME STUDY:
HOW SOLAR INCREASES HOME VALUE
A set of beautiful Black on Black solar panels on a rooftop producing clean energy.
Does Solar Increase Home Value?
The OhmHome Study gathered statistics and analytics from several independent reports to conclude whether or not solar panels increases a home’s value. One of the reports from the Ohm Home Study is from the Lawrence Berkeley National Laboratory, which analyzed real estate transactions from 22 822 homes (3 951 of which were PV) in 8 states (California, Florida, Maryland, North Carolina, Pennsylvania, Connecticut, Massachusetts and New York) that occurred from 2002-2013. The conclusion of the study was that solar panels do increase a home’s value. Solar homes carry an average increased home value of $15 000 for a 3.6-kilowatt system. These states also have solar programs that operate very similarly to the one being used in Ontario right now.
Black on Black solar panels are one of the most aesthetically pleasing panels on the market.
The study concluded that the majority of buyers looked for solar as a desirable quality when deciding what type of home to purchase. Lastly, OhmHome conducted a small study of 4 homes that have solar on them, and the conclusions from the study show that homes with solar have an increased value of $34 000.00 CDN with an average 6-kilowatt system installed. The OhmHome study concluded that homes with solar on them sell at premium rates. It also concluded that the larger the solar system, the higher the increase in home value.