Roof Options Understanding Future Uses of Roofspace and Defining An Early Path to Profitable Roof Estate Investing
Rooftop Revolution: Where Homeowners Are Adopting Solar Panels December 16th, 2024
Via Fast Company, a report on where homeowners are adopting solar panels:
While more homeowners are adding solar panels to their homes in hopes of reducing their energy bills, adoption varies significantly across the country
To understand which housing markets are doing the most solar panel installation, ResiClub collaborated with the data experts at BatchService, a cutting-edge property intelligence and technology firm. Using their extensive database, BatchService’s team of data scientists analyzed over a decade of property data to pinpoint the states and counties with the most residential solar installation permits.
The epicenter of solar panel installation: California.
Located in the heart of Silicon Valley, Santa Clara County leads the entire nation in total residential solar installation permits that have been issued over the past decade, according to BatchService.
Santa Clara’s municipal utility, Silicon Valley Power, offers incentives for solar installations, further encouraging adoption.
It’s now gotten to the point that a glut of solar power is becoming an issue in California. But how do solar panels impact home values?
ResiClub did some digging; however, most of the research we found is from a few years ago.
In 2019, Zillow economists found that homes that year with solar-energy systems sold for 4.1% more on average than comparable homes without solar panels. For the median-valued home, that translated to an additional $9,274.
A 2023 study by Lawrence Berkeley National Laboratory found that homes within 0.5 miles of large-scale photovoltaic systems sold for 1.5% less than comparable homes located two to four miles away. The researchers wrote that: “For the mean selling price in our sample of roughly $400,000, a 1.5% diminution equates to roughly $6,000.”
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As potential uses for building and parking lot roofspace continue to grow, unique opportunities to understand and profit from this trend will emerge. Roof Options is committed to tracking the evolving uses of roof estate – spanning solar power, rainwater harvesting, wind power, gardens & farms, “cooling” sites, advertising, apiculture, and telecom transmission platforms – to help unlock the nascent, complex, and expanding roofspace asset class.
Educated at Yale University (Bachelor of Arts - History) and Harvard (Master in Public Policy - International Development), Monty Simus has held a lifelong interest in environmental and conservation issues, primarily as they relate to freshwater scarcity, renewable energy, and national park policy. Working from a water-scarce base in Las Vegas with his wife and son, he is the founder of Water Politics, an organization dedicated to the identification and analysis of geopolitical water issues arising from the world’s growing and vast water deficits, and is also a co-founder of SmartMarkets, an eco-preneurial venture that applies web 2.0 technology and online social networking innovations to motivate energy & water conservation. He previously worked for an independent power producer in Central Asia; co-authored an article appearing in the Summer 2010 issue of the Tulane Environmental Law Journal, titled: “The Water Ethic: The Inexorable Birth Of A Certain Alienable Right”; and authored an article appearing in the inaugural issue of Johns Hopkins University's Global Water Magazine in July 2010 titled: “H2Own: The Water Ethic and an Equitable Market for the Exchange of Individual Water Efficiency Credits.”
