LOS ANGELES—Recent research projects suggest that energy efficiency and sustainability certifications for homes may result in easier sales and higher prices. The Earth Advantage Institute, a nonprofit group based in Portland, Ore., found that newly constructed homes with third-party certifications for sustainability and energy efficiency sold for 8% more on average than noncertified homes in the Portland metropolitan area. Existing houses with certifications sold for 30% more. A recent study published by the National Bureau of Economic Research on houses in San Diego and Sacramento, Calif., found that installations of photovoltaic solar panels on homes in the $500,000 range yielded an increase in appraised value of $20,194—a 97% rate of recovery on the investment.
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