13 Jun How to Appraise a Solar System
Ever wonder how an appraiser is going to determine the appraisal value of your solar system?
The scary truth is that right now (in Texas at least) most of them don’t have any idea how to appraise a solar energy system, or that tools exit within their own industry to help them out.
In markets like California and Hawaii, homes sell with solar all the time and the appraisers know what’s what. In Texas, not so much.
Now that I’ve scared you into playing close attention, let me just say that there’s help available, and that the appraisal industry is making strides everyday to get better educated about solar pv system valuation. You’ll need to know what to look for when/if you ever sell your solar-powered home. That’s what we’re going to cover in this blog post.
We’re going to take a deep dive into the PV Value solar appraisal tool, and how it is being used to appraise a rooftop solar system today. As you’ll see in this video, we know our stuff when it comes to solar appraisal and will help you with making sure your home’s solar system appraises properly when/if you decide to sell your solar-powered home.
In this video you’ll learn:
– The History of PV Value
– Who can benefit from PV Value
– Why Solar PV appraisal is important in the short and long term
– Challenges for appraisers
– Demo of PV Value with an actual appraisal on a new Solar PV System
We’ll get to the video a little further down the page, but first there are a few things we want you to keep in mind.
Selling Homes With Solar Is Relatively New In Texas
Most appraisers are not even aware that this tool exists, or how to use it.
It will be up to you to be proactive in making sure everyone involved in your real estate transaction knows how to properly value your solar system.
Your Realtor Wants To Sell Your Home Fast
Time kills deals. Nowhere is this more true than in real estate. You’re going to have to pump the brakes a little up front, and make sure that your home is appraised properly.
YOUR REALTOR HAS NO IDEA HOW TO APPRAISE YOUR SOLAR SYSTEM. They’ll throw out some arbitrary number and do their best to convince you that it’s a fair estimate of what solar adds to your home so they can just move on and get it listed fast.
The National Association of Realtors’ Green Designation
You need to work with a realtor with a Green Designation. The National Association of Realtors maintains a searchable directory of all realtors who hold the Green Designation. This should get you started.
These real estate professionals understand how homes with green features like solar power should be marketed differently than traditional homes. Click to learn more about the NARs Green REsource Council.
If you purchased from Longhorn Solar and have plans to sell your solar-powered home, please contact us for help in making sure you capture the value for your PV system.
Additionally, here are some useful links you’ll hear called out in the video below. Enjoy!
Energy Sense Finance: http://www.energysensefinance.com/
PV Value: https://www.pvvalue.com/login/register
PV Value User’s Manual: http://energy.sandia.gov/download/23671
Appraisal Institute: http://www.appraisalinstitute.org/
Residential Green and Energy Efficient Addendum: https://www.appraisalinstitute.org/as…