Unable to find comps which have "owned" solar panels. What to do?

[KenAZ]

I have owned solar. Free electricity for 20 years or more. I jumped at the chance to get solar. I talked to a realtor about why resale is so bad. He told me that typically a buyer would prefer to have a remodeled kitchen, than solar.

The better investment is the solar. I save $400 or more per month and never worry about high electric bills, but the typical buyer doesn't look at future vale, they are more interested in if they can have a party at their house and show it off to their friends

If they have their roof fukll of panels, then typically $10,000 is about the max that buyers will pay for solar. I almost always have to do an across the board adjustment. I have maybe found another comp with+ owned solar house 2x in the past 10 years

 

[J Grant]

I have owned solar. Free electricity for 20 years or more. I jumped at the chance to get solar. I talked to a realtor about why resale is so bad. He told me that typically a buyer would prefer to have a remodeled kitchen, than solar.

The better investment is the solar. I save $400 or more per month and never worry about high electric bills, but the typical buyer doesn't look at future vale, they are more interested in if they can have a party at their house and show it off to their friends

If they have their roof fukll of panels, then typically $10,000 is about the max that buyers will pay for solar. I almost always have to do an across the board adjustment. I have maybe found another comp with+ owned solar house 2x in the past 10 years

Agreee, we appraise to the behavior of market buyers what they actually do, not what they should do to save $ or go green.
Another thing appraisers have to keep in mind when it comes to a contributory value of a stand alone item like solar, or a generator etc, yes when it is installed it has a value. BUT, any buyer, at any time who lives in a house without solar can pick up the phone, make an appointment, and BUY THEIR OWN BRAND NEW SOLAR PANELS WITH A PAYMENT PLAN /TAX CREDITS. So there is no urgency to find a house with solar panels for most buyers since they know at any time they want them, they can add them - and get the latest tech . Solar roofs tiles are also an option -

 

[alebrewer]

The better investment is the solar. I save $400 or more per month and never worry about high electric bills, but the typical buyer doesn't look at future vale, they are more interested in if they can have a party at their house and show it off to their friends

So the typical buyer wouldn't be interested in the $400/month savings? I feel like I'm in some kind of alter world... Here I was thinking a typical buyer WOULD, in fact, be concerned about how much they're spending (and saving). Goes to show you how much I know.

 

[Terrel L. Shields]

If subsidies were stopped on solar, geothermal would make the most sense outside of a place like Arizona or S. California where the sun shines 90% or so of the time days. Both would be a killer combo. I suppose some people would eschew panels over the issue of fear of a fire or they are simply buttugly. But to me, in areas where solar panels are less efficient and energy costs are low, superinsulation and geothermal are a far better investment...they just don't get the tax break.

Ultimately what happens when everyone is on solar and the utility is losing money? How will the pay structure have to change? The "wholesale" price will have to drop to near zero, eliminating a lot of the "income" from solar panels.

 

[alebrewer]

I think I'd be a fan of PV systems. My biggest turn off is the sales folks who try to shove them down peoples' throats. They're common enough now that I don't think folks see them as an eye sore, if purchased prudently, they do result in net savings to borrowers, they're life span is much longer than a few years ago, etc.

 

[Dublin ohio]

So the typical buyer wouldn't be interested in the $400/month savings? I feel like I'm in some kind of alter world... Here I was thinking a typical buyer WOULD, in fact, be concerned about how much they're spending (and saving). Goes to show you how much I know.

In the Dominican Republic. Probably. Since their electric rates are 2-3 times higher the the states. Take 1/3 to 1/2 of that for the states. Now we are talking $150-$200 or less per month. Still a "savings" but.....

 

[alebrewer]

In the Dominican Republic. Probably. Since their electric rates are 2-3 times higher the the states. Take 1/3 to 1/2 of that for the states. Now we are talking $150-$200 or less per month. Still a "savings" but.....

According to post #11 (actual PV owner), his/her savings is about $400/month. YMMV.

 

[Mark K]

Maybe this will help complicate the issue, at least in Kalifornia...

Elon Musk trashes California's 'bizarre' solar tax proposal ​

Tesla estimates the new energy metering rules would add $50 to $80 per month to solar customers' electric bills.​

"According to California's Public Utilities Comission, the proposal, dubbed NEM 3.0, would charge solar customers of Pacific Gas & Electric, Southern California Edison and San Diego Gas & Electric a "grid access" fee of $8 per kilowatt of installed solar per month. Low-income and tribal homes would be exempt. Customers would also pay either peak or off-peak rates, depending on the time of day electricity from the grid is used."

First you mandate that all new homes have solar and then....you force them to pay $8 per KW/month. 10 KW system, extra $80/month on your elec bill. LOL!!!

For all of the Polar Bear hugging liberals feeling smug about their solar panels, you now get the satisfaction of paying an additional fee to the local power company/state bureaucrats.

You can't make this stuff up.

 

[glenn walker]

So the typical buyer wouldn't be interested in the $400/month savings? I feel like I'm in some kind of alter world... Here I was thinking a typical buyer WOULD, in fact, be concerned about how much they're spending. Goes to show you how much I know.

Not around here we have almost no humidity and on a 1,500 square foot stucco box unless you are running the AC day and night in the summer your avg electric bill can be $80 to $100 a month. BUT the fat people out here need a constant 72 degrees and so they get solar and run their AC day and night which will generate a $500 a month bill at a level three price point and so the knocker off that $500 .00 down to $50 bucks but if not paid for and free and clear they also have a 20K to $40K Solar loan at 8% amortized over 10 years and that eats up half of their savings. In may cases its returned almost nothing until year 11 and by then the solar panels are at or near at end of life as most crash between year 8 to year 10. Guess who made the panels China and they no longer answered there phone and the panel warranty's prove to be worth less..

Out here Possibly one of the biggest scams ever pulled on the American consumer is expense solar systems.

To my pesky neighbors lose weight and put that plus size wife wife on a extreme weight loss program and then turn your thermostat up to 85 degree and when your electric bill hits $100.00 turn the thermostats up to 100 degrees and go to Pep Boys get a big automotive fan and sit your now thin wife on the patio with the fan and a big Ice pack to put on her head. After two summers those skinny bodys will have acclimated and no need for AC or Solar. Learn to live like people did up until 75 years ago - Porches-Patios -Open windows and be truly energy efficient. Note: To live on low energy it takes extreme discipline but after a while you no longer even need AC and thats what drive up electric bills but if you are a foody and fat you will need Solar gallons of water to stay hid rated and you will not survive the Angry Cat energy politicizes.
Once The Yenta at 5.9' tall got down to 120 LBS She now shakes like a Chihuahua if temperature gets below 85 degrees and when fat friends come over they leave in less than 15 minutes as they are dying of heat.
A win-win low electric bills and no plus size women at my house. Doctor says Yenta needs to gain weight and I am like no She has no diabetes heart problems unlike his nurse who is about 35 years old and 50 LBS over weight

 

[Dublin ohio]

According to post #11 (actual PV owner), his/her savings is about $400/month. YMMV.

Like I posted In the Dominican Republic. Not debating the savings. But putting it in context.