Abstract
This analysis uses data from a California solar PV incentive program to investigate the effect of solar installation on the price of new homes across multiple California counties. The price effect of solar installation was estimated using hedonic pricing models to control for other characteristics such as time, home size, and location. The base model estimates that new solar homes sell at a premium compared to similar, non-solar homes by an average of $16,472, or $6.49 per watt. This analysis is the first to show positive, significant premiums for new homes with third party-owned systems. This analysis also explores relationships between solar premiums and other economic, social, and environmental factors.