A Solid Investment
Although consumer interest remains relatively low—just 12% of prospective buyers said they considered solar “important” or “very important” in a 2014 National Association of Realtors survey—in many parts of the country, the demand for the burgeoning technology exceeds current supply and builders are scrambling to figure out how to fit solar into their offerings.
“Solar becomes more of a no-brainer for homeowners when they realize they can go green and save green at the same time,” says Jonathan Bass, vice president of communications for San Mateo, Calif.-based SolarCity, one of the nation’s largest solar providers. “We are seeing more and more home builders add solar to their communities because homeowners are asking for it.”
In fact, solar is proving to be a solid investment for homeowners. Solar homes appreciate 17% more and sell 20% faster on average, according to a National Renewable Energy Laboratory study. The Lawrence Berkeley National Laboratory found evidence of “PV premiums” of between $2.68 and $4.31 per watt when homes with solar arrays were sold.
The builders who offer solar also make it easier for their customers to lower energy bills by designing extremely efficient, well-insulated homes that reduce load requirements. They also address consumers’ aesthetic concerns, which generally are based on outdated information.
“That old concern around solar panels being ugly is based on the old 1990s aluminum-frame blue panels that looked like a UFO crashed on the side of the house,” says Meritage Homes’ C.R. Herro. “Today we use gray panels, flush-mounted on the roof, and you don’t even know the homes are solar until you climb up on a ladder and look down on them.”
Hugh Fisher of Warwick, R.I.-based h.a. Fisher Homes partnered with Dow Solar on its recent 200-home North Kingston, R.I., community because the company’s Powerhouse solar shingles look good and work well. The first-of-its-kind roofing product combines the benefits of solar technology with durable roofing materials and allows homeowners to track how much energy is being produced and used—as well as energy savings—at any time. Plus, Fisher adds, Dow’s reputation and ability to stand behind its product made a huge difference in his company’s decision to jump on this “next evolution of energy efficiency.”
