The Appraisal Institute publishes a book to help real estate appraisers value green homes, including those with solar power. The institute has been active in providing tools to value green buildings and understand the effect of solar PV on home sales
Most people in the solar industry haven’t been surprised to learn that solar adds value to homes. But it’s been hard to know how much value, especially since that depends on the perceptions of both homebuyers and appraisers.
More tools are becoming available to help appraisers make this valuation. The nation’s largest professional association of real estate appraisers, the Appraisal Institute, has published a book that gives a comprehensive overview of how to value high-performance homes. This growing market includes homes with solar power.
The book, “Residential Green Valuation Tools,” by Sandra K. Adomatis, SRA, describes the main elements of green homes and provides case studies that help show how to value high-performance homes. It gives instructions on properly completing the Appraisal Institute’s Residential Green and Energy Efficient Addendum form for appraisal reports, and discusses how to value solar PV systems.
“The market for green, or high-performance, homes is clearly growing, and appraisers who want to appraise these homes competently need to stay up-to-date on the latest green terms, home features and organizations,” Appraisal Institute President Ken P. Wilson, MAI, SRA, wrote in the book’s foreword.
The Appraisal Institute has been active in providing guidance on valuing green buildings and understanding the effect of solar PV on home sales. That includes courses for appraisers.