How do you value Solar in a home appraisal?

[MoistMitten]

Inverter have been known to fail


Not questioning you ability. But that could be an issue for a buyer. Most installers provide a warranty. What is the warranty on the panels and does self installation impact that warranty


the typical life of solar panels is approx 25 yrs. Roofing life is somewhat dynamic when it comes to shingles

All good I can give a warranty on it as needed. Warranties are about as good as snake oil to me. Statistically speaking they provide them because they know nothing will go wrong and find that people value them.

If it was installed wrong it blows up right away at the wattage its running at per string. Its been installed for about a year now.

Most warranties around here (I do sales for a roofing company) are nontransferable for roofing in general so even if I had one and they were paid off it would likely not transfer.

An inverter takes like 1 hour of an electricians time to replace and costs 1.5k while not cheap, they are easy to replace.

I dont plan to sell till some time next year as this location is cash flowing about $1500-4000/m depending on the month. By that time Ill hit the 5 year mark and can sell tax free.

 

[Dublin ohio]

All good I can give a warranty on it as needed. Warranties are about as good as snake oil to me. Statistically speaking they provide them because they know nothing will go wrong and find that people value them.

If it was installed wrong it blows up right away at the wattage its running at per string. Its been installed for about a year now.

Most warranties around here (I do sales for a roofing company) are nontransferable for roofing in general so even if I had one and they were paid off it would likely not transfer.

An inverter takes like 1 hour of an electricians time to replace and costs 1.5k while not cheap, they are easy to replace.

I dont plan to sell till some time next year as this location is cash flowing about $1500-4000/m depending on the month. By that time Ill hit the 5 year mark and can sell tax free.

Well you seem to have all of the answers. Maybe by the time you decide to sell you will have the value problem solved. Regardless good luck and have a nice day

 

[MoistMitten]

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Im at a bit of a loss, are you saying that if the house is net 0 its worth more than they normally value them?

 

[MoistMitten]

Well you seem to have all of the answers. Maybe by the time you decide to sell you will have the value problem solved. Regardless good luck and have a nice day

I only have the answers on what I know. Seems like theres some direction i can do with the information provided. Looks like 'contributory value' is the answer from the looks of things which makes sense to me. I just dont know how appraisers value it, but I may be a bit early on using them to generate value on flips.

Ill add some of the Value based info below from the 'income approach method' that I found a while back, but Im guessing that is the same concept?

 

[Dublin ohio]

I only have the answers on what I know. Seems like theres some direction i can do with the information provided. Looks like 'contributory value' is the answer from the looks of things which makes sense to me. I just dont know how appraisers value it, but I may be a bit early on using them to generate value on flips.

Ill add some of the Value based info below from the 'income approach method' that I found a while back, but Im guessing that is the same concept?

The only reason i brought up the self installation is because you are trying to determine buyer market reaction. I would think that the typical buyer would have some trepidation concerning a DIY installation. Based on the cost you cited. You must have found a real good price on the system. It would take about 40 +/- panels for your size installation

 

[JTip]

160 days of sunshine a year in Michigan. Making up to $4k a month on a $12k investment.

Let me liquidate my nvidia and get on this guaranteed not to lose investment opportunity.

 

[Dublin ohio]

I only have the answers on what I know. Seems like theres some direction i can do with the information provided. Looks like 'contributory value' is the answer from the looks of things which makes sense to me. I just dont know how appraisers value it, but I may be a bit early on using them to generate value on flips.

Ill add some of the Value based info below from the 'income approach method' that I found a while back, but Im guessing that is the same concept?

Not knowing which company is you provider. I will have to assume that most of your "savings" is due to net metering or the DGP program. One thing to remember. What the government giveth. The government can take away.

 

[Carnivore]

Im at a bit of a loss, are you saying that if the house is net 0 its worth more than they normally value them?

Yes and maybe. Cost to go green in a bigway may not at this time be worth the investment. As Energy cost go up(and they will) It may justify more panels.

 

[Trihard]

I spoke to an agent about owned solar panels that were already paid off. This was a random comparable I found while doing research for another report. Whenever, I see anything interesting I call the agent and have a chat and put it in a general work file that I can use for support, if need be. Anyways, the agent said that there was very little interest in the solar panels from potential buyers that came to see the house. Square footage, site size, bedroom count, bathroom count, basement and location are the most important characteristic, the solar panels are last and are more of an amenity. From my experience solar panels in a 4 season climate provide very little to no contributory value.

 

[Joe Flacco]

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