Palmetto Clean Energy News & Solar Energy Blog

The Growing Land of Solar Real Estate

June 06, 2017
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You probably have the scene of buying your dream house, or even just your first house, playing through your mind. You’ll go through your list of must-haves and narrow down the houses to the one that fits your criteria the best. A few years ago, this list might have consisted of a bigger master bedroom, extra dining room, added cabinet space or pantry, and a three-car garage. Now, however, buyers are adding one more must-have to this list, and this one tops all others: solar energy. These buyers are taking real estate to a whole new level, seeking out prime solar real estate for their purchase instead.

 

Solar Real Estate: Commercial

Over the past few years, businesses have been the ones to lead the movement toward solar real estate for commercial purposes. They have led for several reasons. First, business giants have a much bigger carbon stamp on the environment and, therefore, a big impact when they decide to buy sustainable property.

Of course, they also have more funds to finance these projects, giving them more freedom to choose clean energy. These businesses are helping to generate more interest globally because of their dedication to a green environment.

 

100% Google

If you know anything about sustainable business, you have likely heard about Google’s devotion to reduce its carbon footprint. The company has bought tons of renewable resources, aiming to attain 100 percent renewable energy this year. Currently, the company has used wind and solar energy as its main resources.

 

Amazon Decked Out

By the end of 2017, this retail giant will have outfitted 15 of its US fulfillment and sorting centers with shiny solar energy systems. In just three more years, Amazon is promising to have 50 centers decked out in solar, potentially providing up to 80 percent of each building’s energy needs with the sun’s power. While a few other companies still surpass Amazon, the online retailer is quickly catching up.

 

 A Solar Target

Like Amazon, Target has a 2020 solar goal as well. The company is targeting 500 buildings to get equipped with solar energy within the next few years, and it is well on its way. As of April 2017, Target has completed 350 of those projects, and its largest solar array has landed on its Phoenix distribution center in the shape of a—target!

 

Tesla Raising the Roof

Tesla has made huge strides to improve the world’s sustainability over the years. Since they have such expertise in this area, we shouldn’t have been surprised when they whipped out the announcement of their new solar roof tiles! You can currently start ordering the durable tiles for your home and wait for the actual product release later on this year.

These commercial big shots and other businesses like them have jumped into solar energy over the last few years. In fact, some would say that these companies are having a healthy competition over their sustainable progress. No matter who gets to the top first, everyone will benefit from their dedication in the end.

 

Solar Real Estate: Consumer

While big businesses are challenging themselves to reduce their carbon output in the world, consumers are sizing up the idea of a sustainable home too. When the National Association of Realtors surveyed its realty members, they found some interesting trends in the consumer housing market.

Seventy-five percent attested that homebuyers deem energy efficiency as very or somewhat valuable. In addition, 56 percent are interested in sustainability for their homes. According to the NAR, realtors can look out for an upward trend in solar real estate in the near future.

At the same time, the price of solar homes themselves confirm their popularity. In 2015, several studies showed that homeowners would willingly pay a higher selling price of about $15,000 if the home had solar panels installed. These homes often sell faster on the market as well. Homebuyers simply know the benefit they will get out of these homes.

Recently, solar real estate has been rising in popularity. Corporations have bought and improved much of their real estate, spiking interest in solar for small business and residential areas. Both the businesses and individuals see the rewards they can get from buying sustainable property, and they are investing heavily in this new movement. You can expect to see more solar real estate on the market to meet these trending consumer demands.