Solar Panels Appraisal Forum

Solar panels and green homes are becoming increasingly more common in the marketplace.

Solar panels appraisal forum.

The skilled appraiser will take extra steps to understand the market s attitude toward solar. The appraiser emphasized that solar panels are a new arena for appraisers the issue simply hasn t been around long enough for there to be a consensus on how to value the addition of the panels. Determining the value of solar panels is an issue that has many appraisers asking questions. Now i can t include the panels in the home sale price because it wont appraise.

I find this incredibly unfortunate. The appraisal institute residential green and energy efficient addendum solar page can be attached to the mls upon listing the property used by appraisers to gather the specifics needed to value the system. Attached is a very well written 45 page report that will help all appraisers better understand this issue and perhaps lead you in the right direction when. Comments by the appraiser that a leased solar system is installed on the premises indicates to the reader of the report that the appraiser considers the solar panels as adding value to the subject property.

Appraisers valuing the contribution of solar panels on homes has become one of the trickiest aspects of our work over the past decade. We were looking to get rid of our pmi and the lender gave us the option of ordering an appraisal 500 or a bpo 200. While owning a solar system may add value to your home it would not be wise to expect a dollar for dollar increase based on the cost of the system project. Whether the solar panels are leased and owned also may affect the appraisal.

Understanding the value of renewable energy and your home appraisal. The appraiser cannot include the panels as part of the property value because there are no comparable in this area that also have solar. If you ve seen a rise in solar panels in your area consider taking the first step toward competency in the valuation of this energy efficient feature of real estate. Another way to show value for solar panels is for the appraiser to note them in the appraisal report as a feature and amenity.

Anyways since purchasing 2 years ago we added a 2 br addition and a 6 3 kw solar panel system on the roof. But whether or not those solar panels pay off depends on a lot of factors from the cost of electricity in your area to the shape of your roof.