I just read this post on smartplanet.com by David Worthington about installation of solar panels at home to generate electricity and it seems to be a good idea especially for real estate investors in order to add value to the house that they are selling.
Here's the post.
It’s well established that updating a bathroom or remodeling a kitchen are among the most cost effective ways to raise a home’s value. What’s lesser known is that renewable energy also fetches a more premium price from buyers.
Analysis recently published by the National Bureau of Economic Research (NBER), an independent economic policy think tank, found that solar photovoltaic (PV) panels add between 3 percent and 4 percent to the value of a home on average.
“This comparison suggests that, on average, homeowners fully recover their costs of installing solar panels upon sale of the property,” the study says. NBER examined home sales in San Diego and Sacramento, California.
The NBER is headquartered in Cambridge, MA, and was founded in 1920. Its president emeritus is former Bush economics guru Martin Feldstein. SourceWatch notes that NBER has trended toward Republican policy positions.
CNET’s Martin LaMonica reported that the analysis mirrors the findings of a study published by Lawrence Berkeley National Laboratory in April, which concluded that solar panels have a “sizeable effect” on home values.
Homeowners should be aware that solar power is becoming more affordable. In June, Ernst & Young and IHS iSuppli both forecasted that the cost of solar panels would plunge to $1.00 per watt.
General Electric’s global research director has predicted that new technology breakthroughs are making it possible for solar generated electricity to be the most economical choice within the next three to five years over fossil fuels and nuclear power.
I think it's possible here in the Philippine settings especially now that more and more Pinoys are embracing renewable energy sources as a means of producing electricity for domestic consumptions.
source: smartplanet
Hi Ernie,
ReplyDeleteThank you for your Blog. Indeed renewable energy would help us against rising cost of fossil fuel energy. Have you had further studies on product development? Given a chance (local or foreign financial investment) hope you can help make solar energy more feasible to local market. My profession is in the design and construction industry and we are making residences "Solar Energy Ready". Please share your insight on this matter. How to make your home "solar enargy ready". Best Regards
Hi Global Pinoy 2020,
ReplyDeleteThanks very much for reading my blog, I really appreciate it. For now I don't have any studies on this particular subject (solar energy ready houses)though I admit that it is very important. But I will try to make a post on this particular subject sooner. Thanks again.
Thanks for the sharing the information about the renewable energy specially Solar panel...Solar panel courses
ReplyDeleteAgreed. And although the installation of home solar panels are quite expensive its benefits are worth it.
ReplyDeleteI truly like to reading your post. Thank you so much for taking the time to share such a nice information.
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Adding solar panels could greatly increase your house's value like this rent to own house and lot in metro manila.
ReplyDeleteGood read and Great article. I want say that this article is very nice and very informative article.I will make sure to be reading your blog more.
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