A new online tool has been created by the California Energy Commission to help the housing market evaluate the value of solar on California homes.
The Solar Advantage Value Estimator (SAVE) will give the industry a long-term and cost-effective method for calculating the added value of solar photovoltaic (PV) systems on new and existing solar homes. Accurate assessments of the added value solar brings to homes improves the economics of residential solar projects and helps homeowners see the benefits of going solar.
"This changes the perception of solar in the housing industry that benefits homeowners," said Energy Commissioner Carla Peterman. "Today's changing real estate market requires a credible method to determine a home's value with solar, and this tool is an example of California's leadership to develop new methods to cultivate clean energy."
SAVE calculates the value of a solar PV system on a new or existing solar home including the estimated value in annual energy savings. The tool uses the homeowner's unique address and zip code, the solar system size, specific climate zone data and local electric utility rates.
Once the three-step calculation is complete, the user receives a present-value amount for their solar PV system. Real estate professionals, appraisers and builders can connect this information to potential homebuyers who may be deciding to "Go Solar" or to homeowners who are selling their solar homes.
SAVE was developed through a coordinated effort of appraisers, realtors and public/private stakeholders.
For more information about SAVE and a list of frequently asked questions, visit www.gosolarcalifornia.ca.gov/tools/calculators.php..