Solar Water Heating
Friday, 12 November 2010 12:27

Solar homes sell 20% faster and for 17% more – NREL Study

The National Renewable Energy Laboratory (NREL) in America conducted “one of the most exhaustive and detailed studies to date” which found that solar homes sold 20% faster, for 17% more than equivalent non-solar homes.

The study was conducted across several subdivisions built by different California builders. According to the study, when Shea Homes put solar PV and solar thermal systems on half the homes in a development, all 257 of them sold within a year, two years faster than expected. And while these new houses were priced at US$380 000 to US$500 000, they sold for as much as US$600 000.

The study also concluded that solar homes appreciated 20% more, and sold 17% faster than the non-solar homes. Another interesting finding was that if solar was already on the house, and factored into the price already, buyers were more likely to pick a house with solar. But if it was just one more decision to be made at the point of purchase, the decision got shelved.

This was found to happen because the salespeople were more likely to neglect to bring up the option altogether, for fear of losing a sale to indecisiveness. After all, they can’t even sell the house till the buyer has decided on either the Neon orange Corian or the Tuscan granite for the counter tops. They can sell the house without solar, but not without the counter tops.