ISEA March Solar Lecture Series Event
Emmett’s Ale House
5200 Main Street, Downers Grove
MARCH 20, 2013
6:30 pm - 9:00 pm
Economics of Renewable Energy in Illinois
The Financial Benefits of Building Installed Solar Photovoltaic Systems
Across a large number of data points, a 2011 study by LBNL found strong evidence that California homes with PV systems have sold for a premium over comparable homes without PV systems. The effects range, on average, from approximately $3.9 to $6.4 per installed watt (DC) of PV, with most coalescing near $5.5/watt, which corresponds to a home sales price premium of approximately $17,000 for a relatively new 3,100 watt PV system (the average size of PV systems in the study).
Mr. Andereck will present two case studies, a small 10kW commercial project in Naperville and a 32.1kW series of arrays atop low income housing in South Chicago in collaboration with EcoSolar Solutions. The different approaches to financial success and the influences on the project by market demand and energy subsidy will illustrate current first cost approaches to solar development in the state and lay the real world framework for a discussion about resale value and appraisal.
Mr. Hobbs will discuss the changing Chicago real estate market, national trends affecting the local real estate market, and the importance of understanding the benefits of Renewable Energy and impact on appraisal requirements. Additional bonus topic to be covered includes the current state-of-the High Efficiency “Green” Building market demand in Illinois.
6:30PM – 7:00PM Cocktails
7:00PM – 8:00PM Presentation
8:00PM – 9:00PM Meet & Greet
Please view Emmett’s menu
$10.00 for ISEA MEMBERS $15.00 for NON-MEMBERS
Kelly Andereck, Principal, LEED APA
A graduate of California Polytechnic University and UCLA, Kelly Andereck is an experienced architect and consultant with over 25 years of experience; he has been on the leading edge of the High Performance Green Building and is a published author and expert on the environmental marketplace. Kelly is currently developing “A Solar Studio”, a full service consulting studio that houses engineers, architects and sales assistance. The studio continues his work to transform the renewable energy market. Previously, Mr. Andereck was principal owner of A Design Consulting, a full service architectural firm servicing the residential sector and as an Associate Architect with Skidmore Owings & Merrill he began the firm’s first sustainable design studio coordinating engineering and design services globally from 1999-2003 and is a founding member of the USGBC and Chicago USGBC.
Michael Hobbs, SRA, RAA, LEED GA
Michael is a consultant with PahRoo Appraisal & Consultancy as well as a columnist, author and national speaker addressing the topics of real estate investing and appraisal, sustainable and energy efficiency's impact on property values and entrepreneurship. The Notre Dame graduate is President of PahRoo Appraisal & Consultancy, a multidisciplinary real estate appraisal and consulting firm founded in 2000. He is a state-certified real estate appraiser in Illinois, performing court testimony as an expert witness in various local, state and federal courts. He holds the SRA designation from the Appraisal Institute, is a United States Green Building Council (USGBC) LEED GA, and has received the RAA designation from the National Association of Realtors.