Boost Home Value with a Solar Energy Installation and Pearl Certification
Did you know?
- Studies show homes with solar appraise 5% higher than comparable homes
- Those same homes with solar typically sell faster
- Most appraisers aren’t green energy certified – a special credential offered by the Appraisal Institute
Therein lies a conundrum. How can solar net a higher home value if most appraisers aren’t qualified to make that determination? The answer to the above is the Pearl Home Certification Process, which Tick Tock Energy is uniquely qualified to help with.
Tick Tock Energy is the only Pearl Certified solar contractor in the State of Illinois. Home with a solar energy system, high-efficiency HVAC system or energy management controls can benefit by Pearl Certification.
If a home only has one of the features, such as a solar energy system, the certification will document the characteristics of the residential solar installation and generate a report which licensed appraisers can combine with their report.
The certification documents features of the solar system such as system size, solar panels and inverters used, warranty, estimated energy generation, and other aspects.
As part of each residential solar installation completed by Tick Tock Energy, we include a Pearl Certification report. You can use this report during a refinance or when you sell your home. Pearl certification is recognized by the Appraisal Institute, banks, lending institutions and other real estate agencies.
When choosing a solar installation, consider the value that the Pearl certification offers. Without it you may be leaving money on the table!
Homes with solar and energy-efficiency features are desirable to buyers. These systems help lower the operating cost of a home. Various studies have come up with rough “rules-of-thumb” that for every $1 in reduced operating costs (lower utility bills) a $20 higher home value is justified. This can be a rough estimate of potential value increase. A Pearl Certification does not use a rule-of-thumb method but is instead based on sound appraisal principles recognized in the real estate and financing industries.
Consider if your home is worth $200,000 and has a solar installation certified by Tick Tock Energy. If the average home has a 5% higher value, your appraisal may very well be at least $10,000 higher! Actual results vary and in some case the value is higher depending on each situation.
If you follow traditional appraisal processes and your appraiser is not green energy certified, the home value contribution of a solar system may not be recognized. Consider the value of Pearl when choosing your solar installation contractor!
THE TIME IS NOW! If you’re considering a refinance and solar, please contact Tick Tock Energy for help.
If you already have a solar system, we can still help. Before completing a refinance, Tick Tock can provide the Pearl certified report which your appraiser can then include.
Your home’s appraiser will take the Pearl report Tick Tock provides and can adjust their estimate of home value accordingly.
Benefits of Pearl reports include:
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They document greater home value resulting in higher equity
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They make obtaining a loan easier by improving loan to value ratio (LTV)
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They allow you to potentially tap built up equity through a home equity line of credit (HELOC).
When you go to sell your home, having a Pearl report available to give to a buyer and their appraiser can also justify a higher home sales price and help it move off the market faster!
Interested in a Pearl certification? We look forward to hearing from you soon! For more information also see this page on our website:
