In short
German law has no specific definition of market value (Verkehrswert) for PV systems. Experts apply the concept from Section 194 of the German Building Code by analogy. Because systems are hard to compare, market value is almost always derived from income value and checked against the market.
How is market value determined?
- On-site inspection: visual inspection, thermography and, where needed, electroluminescence and IV curves. Result: actual condition and a list of defects with costs.
- Yield analysis: meter readings and monitoring data of recent years compared with irradiation and design.
- Contract review: tariff status, tariff rate, direct marketing, roof lease, insurance, maintenance contract.
- Income value: present value of surpluses until decommissioning with a disclosed discount rate.
- Market adjustment: comparison with transactions of similar systems, premiums or discounts for defects, contract risks and marketability.
- Sensitivity analysis: how strongly does the value react to yield, discount rate, post-tariff revenue and useful life?
When do you need the market value?
| Occasion | Who asks | Particularity |
|---|---|---|
| Purchase or sale | Buyer, seller, advisers | Basis for price negotiation |
| Financing | Bank | Lending value and residual value at the end of the term |
| Inheritance and gift | Heirs, tax office | Valuation date is the date of death or of the gift |
| Divorce | Spouses, family court | Gain equalisation: value at two dates |
| Insolvency | Insolvency administrator, creditors | Going-concern value versus liquidation value |
| Withdrawal, restructuring | Tax advisers, auditors | Values under tax law |
| Litigation | Court, parties | Traceable derivation that holds up in court |
Why market value can differ from income value
Income value uses expected values. A buyer calculates with risk: unclear roof contracts, missing documents, an inverter without spare parts, a grid operator dragging its feet on meter changes. Such points lower the achievable price even if the system runs perfectly. Conversely, buyers often pay a premium for well-documented systems with a long remaining tariff. We show this market adjustment separately in the report.
Frequently asked questions
What is the market value of a PV system?
The price that would be achieved on the valuation date in ordinary business according to the characteristics and condition of the system, without regard to unusual or personal circumstances.
How long does a market value report take?
For a single system with complete documents, usually two to four weeks from the site visit. Missing yield data or contracts extend the process.
Which documents are needed?
Commissioning report, feed-in statements or meter readings for recent years, data sheets for modules and inverters, maintenance records, contracts (lease, direct marketing, insurance) and documents on damage or repairs.