Added Home Value

The United States Department of Housing and Urban Development established the standard for appraising the value of a 25 Year System Warrantyphotovoltaic system as the value of the electricity generated each year multiplied by 20 years.  Because electricity rates are relatively high in Costa Rica a standard 10 killowatt system that costs about $27,000 would add about $131,000, in the appraised value of your home.  Of course, this is Costa Rica and appraisal practices are different here but when you decide to sell your home the perceived value will be affected by this standard – especially if you sell to an American or European buyer.

Numerous studies are also finding that younger generations of Americans and Europeans are more motivated by green building practices and renewable energy systems when choosing a home for purchase.  Homes with solar systems sell an average of 15% faster than comparable homes without such systems.  Older buyers may not place a high value on reducing their carbon footprint but many of them are very motivated by the ability to reduce ongoing expenses by purchasing a retirement home with a renewable energy system. This trend will only become more powerful as electricity rates continue to rise in the future.  Regardless of your own values or those of potential buyers the bottom line is that a home with renewable energy production appeals to a broader demographic of potential buyers which translates to higher sale prices and less time on the market.

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