A new University of Michigan study finds climate change will increase the value of rooftop solar panels over the next 75 years.
The study defines the value as a combination of electricity bill savings, plus money earned from selling excess electricity to the grid.
“I think that’s important for households to really get a good sense for the value of their solar…think not just how valuable is it now but how valuable will it be over its lifetime,” said Michael Craig, an assistant professor of energy systems at the U.M. School for Environment and Sustainability.
Craig estimates climate change will increase the value of rooftop solar panels by 13% by 2050. By 2100, the value will increase by 19%.
The expected financial gains seen in the study were driven largely by increased demand for residential air-conditioning as the climate warms. The other key factor affecting the value of rooftop photovoltaic systems, the researchers say, is future solar-panel performance in response to climate change.
The study appears in the journal Nature Climate Change.
