Solar Verde Estates is the Midwest's first zero-energy community comprising of 20 green single-family homes on the southeast side of Chicago. During the ribbon cutting ceremony in August 2008, the developer Bernie Schmidt of Schmidt Luxury Homes showcased the development’s green features. The two-story, 1,595-square-foot homes feature 4.0 kW of BIPV solar tiles on the roof. The PV system relies on the Illinois-mandated “net-metering” agreement that feeds excess energy back to Commonwealth Edison for credits and allows the homeowner to bank this energy for later use. Energy is produced during daylight, banked with the utility company for credits and used when the sun is not shining. 
The size of the system is such that it allows the homeowner to benefit from net-zero electric bills during a one-year period. In addition, the photovoltaic system is expected to reduce source emissions by avoiding more than 11,459 lbs of CO2. Using 2003 USEPA estimates for Greenhouse Gases - 10,427 lbs of GHG are being avoided from release into the atmosphere due to the on-site photovoltaic system alone.
Because of the energy efficiency of the house, the total electrical use has been minimized. The exterior walls were constructed using a Structural Insulated Panel (Extruded Polystyrene) exterior wall system. This is a prefabricated custom-made wall system provided by Techbuilt of Cleveland, Ohio. Made of 95%-recycled material (plastic and steel) these walls provide an R-40 exterior wall. Along with the R-50 cellulose attic insulation and 0.29 U-value rated Republic windows, this reduces the heating and cooling needs of the home by an estimated 50%. The homes are heated and cooled by an electric 45,000 BTU Carrier heat pump.
The all-electric homes are served by an instantaneous hot water heater the size of a brief case. In addition, each home comes with all ENERGY STAR appliances by Frigidaire and a second floor stack washer and dryer off the main hall helping the home owner reach an Energy Star Rating of 22% where an ENERGY STAR qualified home, requires to be approximately 20% more energy efficient than 2004 IRC in the in northern climates requiring a HERS Index of 80%.
Other green features of the homes include: low-flow and double-flush toilets; window and skylight placement for natural lighting; bamboo flooring and low-VOC carpeting; tile made of 50 percent recycled content; countertops of recycled plastic laminate; and kitchen cabinets are made of renewable wheatboard and sustainably forested beech wood.
When it comes to home value, a solar power system can increase it. A study by the Appraisal Institute reports a homes value increases $20 for every $1 reduction in annual energy bills. Studies from the American Solar Energy Society and national renewable energy laboratory indicate that PV home sales recover most or all of the post-incentive installation costs and sell faster than non-PV homes of comparable value.
So far two models have been built and are priced in the $290s. Due to the recession, the development has stalled, but the developer is still planning to go forward. For current information about this project, click here.