Do Solar Panels Affect Property Values In Missouri

Determining the value of solar panels is an issue that has many appraisers asking questions.

Do solar panels affect property values in missouri. The study concluded that there s a very strong correlation between solar panels and higher home values with some variation per region. A solar payback period is the amount of time it takes for property owners who install solar panels to recover their initial investment through electricity savings. Installing solar panels in a home not only helps to reduce current monthly utility bills. As solar farms do not have the same impacts as wind farms i e pv facilities do not cast a shadow on neighboring properties cause light flicker or have the same visual impact as wind farms the impacts on property values caused by solar farms are anticipated to be less than the impacts of wind farms.

Solar energy is supposed to be cheaper cleaner and greener than electricity purchased from a utility but when many people think of solar they picture large unattractive panels on rooftops so i decided to engage in a fact finding mission. Many appraisers are taking the position that there is no added value and perhaps some diminished value with leased solar panels because the buyer must assume the lease. This additional financial commitment makes it harder to market and sell the property. Says zapata if a homebuyer decides to purchase a property with leased solar panels that buyer must qualify for the solar lease with the solar company.

With added solar systems californian home values rose the most but there s a significant increase in property values for other states as well. 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. In missouri the average solar payback period is 12 51 years. Whether the solar panels are leased and owned also may affect the appraisal.

It can potentially increase the home s value by up to 4 1 more than comparable homes with no solar panels. Ads by ad practitioners solar panels are becoming the most common way to modernize your home and increase its value. How will a 19 mega watt solar power plant consisting of 81 000 panels covering 166 acres that will be adjacent to over 100 residential homeowners property values be affected.