Solar Power an Untapped Resource in These New 10 England Cities

Redfin

Mar 29, 2017
Solar Power an Untapped Resource in These New 10 England Cities

These areas would benefit greatly from investing in solar panels, but have not embraced the energy source like other areas of the U.S.

The Northeast region of the United States might seem lacking in the sunlight department when compared to areas like the West Coast, but there is actually a lot of untapped solar potential in the region.

While the initial cost of solar panels can be significant (ranging anywhere between $15,000 and $40,000), solar panels pay for themselves over time, as the use of solar energy decrease the cost of utility bills. Buying a solar energy system will likely increase your home’s value. A recent study found that solar panels are viewed as upgrades, just like a renovated kitchen or a finished basement, and home buyers across the country have been willing to pay a premium of about $15,000 for a home with an average-sized solar array. Additionally, there is evidence homes with solar panels sell faster than those without,” according to the Department of Energy.

Redfin and Sun Number teamed up to find out which U.S. cities have the most untapped solar potential. Sun Number is a U.S. Dept. of Energy SunShot-funded startup that has developed a patented, automated process for analyzing the solar potential of rooftops using a Sun Number scale from 1 to 100. “Sun Number scores make it easy for homeowners and homebuyers to understand the solar potential of their current or future home, and Sun Number is committed to working with real estate companies like Redfin to make the scores widely available,” according to Sun Number co-founder David Herrmann.

To come up with the list, Sun Number looked at cities with an average Sun Number above 70 in the Northeast region and then Redfin looked at those areas with the lowest percentage of homes mentioning “solar panels” in the listing description to come up with the top 10 cities for untapped solar potential. These areas would benefit greatly from investing in solar panels, but have not embraced the energy source like other areas of the U.S. Redfin found that listings in this region that do mention “solar power” sell at a price premium.

Here are the top 10 U.S. cities in the Northeast region with the most untapped solar potential:

1. Providence, RI

  • Median Sale Price:  $139,400
  • Median Sale Price for Solar Listings: $329,000
  • Average Sun Number: 79
  • Average Sun Number: 79

2. Rochester, NY

  • Median Sale Price: $107,000
  • Median Sale Price for Solar Listings: $136,500
  • Average Sun Number: 80

3. Syracuse, NY

  • Median Sale Price: $95,000
  • Median Sale Price for Solar Listings: $262,500
  • Average Sun Number: 84

4. Worcester, MA

  • Median Sale Price for Solar Listings: $215,000
  • Median Sale Price for Solar Listings: $262,500
  • Average Sun Number: 82

5. Buffalo, NY

  • Median Sale Price: $108,000
  • Median Sale Price for Solar Listings: $200,000
  • Average Sun Number: 83

6. Boston, MA

  • Median Sale Price: $450,000
  • Median Sale Price for Solar Listings: $629,251
  • Average Sun Number: 71

7. Newark, NJ

  • Median Sale Price for Solar Listings: $345,050
  • Average Sun Number: 76

8. Augusta, ME

  • Median Sale Price: $115,450
  • Median Sale Price for Solar Listings: $153,500
  • Average Sun Number: 75

9. Albany, NY

  • Median Sale Price: $171,495
  • Median Sale Price for Solar Listings: $243,750
  • Average Sun Number: 81

10. Concord, NH

  • Median Sale Price: $182,500
  • Median Sale Price for Solar Listings: $290,000
  • Average Sun Number: 72

Note: Keep in mind, not all homes are eligible for solar panel instiallation, so it is important to talk to a local solar panel company about the process and eligibility.  

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