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California’s Solar-Powered Homes Draw $17,000 Premium, Lab Says

In California, installing solar panels atop a home roof will increase its value by an average of $17,000, according to a study by Lawrence Berkeley National Laboratory.

The analysis of 72,000 home sales from 1999 to 2009 showed that the almost 2,000 homes with roof-top solar systems attracted higher bids from buyers who wanted to save money on utility bills and reduce emissions of greenhouse gases.

“The study shows that solar can be a solid investment for homeowners and a revenue generator for homebuilders,” Tom Kimbis, director of policy and research at the Washington-based Solar Energy Industry Association, said today in an e-mailed statement.

To contact the reporter on this story: Christopher Martin in New York at cmartin11@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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