News and Announcements

Homes With Solar Panels Sell for 4.1% More According to Zillow Report

Not only can adding solar panels to a home save energy costs and help the environment, it also can potentially increase a home’s value. During the past year, homes with solar-energy systems sold for 4.1% more on average than comparable homes without solar power. For the median-valued home, that translates to an additional $9,274.

The sale premium varies substantially by market. In Riverside, Calif., for example, homes with solar-energy systems sold for 2.7% more than comparable homes without solar power—a markup of $9,926 for the median-valued home in the metro. In the greater New York City metro, solar-powered homes have a premium that is double that of Riverside. At 5.4%, that’s an extra $23,989 in value for the typical home in New York.

In three other coastal metro areas—Los Angeles, San Francisco and Orlando, Fla.—homes with solar power can fetch a premium of around 4%.

One reason houses with solar-energy systems sell for more than those without them is because they can provide substantial future energy cost savings. For homeowners who know they consume a lot of power, these future savings are worth spending a bit more money up front. It is also possible that homes with solar-energy systems are more likely to have other features that are hard to measure yet valuable, like heated floors, which could contribute to the premium associated with solar power.

Personal preferences play a role, too: More than 80% of home buyers say energy-efficient features are important, according to the Zillow Group Consumer Housing Trends Report.

Methodology

We calculated the solar premium by comparing homes with and without solar-energy systems that were listed for sale and sold from March 1, 2018 to February 28, 2019, controlling for observable attributes of the homes, including bedrooms, bathrooms, square footage, age of the home and location.

https://www.zillow.com/research/solar-panels-house-sell-more-23798/

There’s Still Time To Lift The Cap!

Contact your South Carolina senator today to let them know you want lower energy bills, cleaner power sources, and a benefit from generating power for the grid! Find your lawmaker here: www.tenfund.org

Vote yes, save jobs! South Carolina’s largest newspaper recently issued their opinion that the Energy Freedom Act should be passed by the Senate, after a unanimous approval by the house. Without the act, “would put nearly 3,000 rooftop solar installation jobs at risk and shortchange homeowners with solar panels.”

https://www.postandcourier.com/opinion/editorials/expand-solar-markets-in-south-carolina/article_be18969a-50cb-11e9-ab2f-d3b06778e97c.html

“South Carolina businesses thrive when they are allowed to innovate.” So says The State newspaper in Columbia, as it supports the benefits of solar for the state’s industrial competitiveness. “Smart energy policy…is an economic winner.” https://www.thestate.com/opinion/op-ed/article227845344.html

solar jobs

2018 Solar Jobs Census

The National Solar Jobs Foundation covers the size and scope of the American solar workforce.  The rapid development of solar energy has created an astonishing number of well-paying American jobs.  As of 2018, there are approximately 242,343 solar workers in the United States, resulting in an overall growth of 159% since the first Census was released in 2010.  Although, in 2017, the rate of growth in the solar industry slowed, resulting in a solar employment decline of approximately 8,000 jobs. 

Solar employment had declined due to the Trump administration’s 30% tariff imposed on most imported solar modules at the beginning of 2018.  The hearing had caused uncertainty in the solar marketplace and utility-scale solar developers to delay their projects in 2017, resulting in an overall solar industry decline.  However, within the next year, solar jobs and installations are expected to return to an incline since installation equipment is now accessible and affordable for utility-scale developers.

Survey respondents predict a 7% solar job increase in 2019, due to incomplete utility-scale projects and new policy incentives in key states.  In 2018, solar jobs and markets have developed an increase in 29 states.  States with the highest solar workforce growth include Florida, Illinois, Texas, and New York.  The complete 2018 list of solar jobs by state can be found here.   

Approximately 87,000 (56%) of 155,000 solar jobs in the installation and project development sector are concentrated on the residential market segment.  About 46,000 jobs (30%) are focused in the non-residential segment, including roughly 12,500 jobs in community solar.  Furthermore, the utility-scale market is said to compromise 22,000 jobs (14%).  

The solar workforce demographics remained quite similar to the previous year.  In 2018, 26% of the workforce consisted of women; 17% consisted of Latino or Hispanic workers; 8% were made up of black or African American workers; and Asian workers made up 9%.  

In 2018, there was an 8% increase in the difficulty level of finding qualified candidates to hire, resulting in 26% of solar establishments reporting it to be “very difficult”.  Prior to 2018, in 2017, only 18% of solar establishments reported such challenges.   

Andrea Luecke, President and Executive Director at The Solar Foundation explains, “Despite two challenging years, the long-term outlook for this industry remains positive as even more Americans turn to low-cost solar energy and storage solutions to power their homes and businesses”.  She continues, “However, it will take exceptional leadership at the federal, state, and local levels to spur this growth and address the urgent challenge of climate change. Expanding solar energy and storage across America will create high-quality jobs, reduce carbon emissions, boost local economies, and build resilient and adaptive communities”.  Solar energy is expected to continue to be a leading job creator for America.