Buying A Home With Leased Solar Panels

If the home has leased solar panels buyers need to find out the lease agreement details including monthly fees and the contract term.

Buying a home with leased solar panels.

Estimates vary but experts agree that when you own your solar panel system you actually increase your home s value. Leasing solar panels can actually be a liability if you try to sell your home. Solar leases are typically for a 20 year term and can be costly to buy out. Choosing whether to buy a house with solar depends on the financing and if a lease or ppa is involved whether the agreement and installation fit your life.

If you purchase your solar panel system you can add anywhere from 15 000 to 23 000 to your home s value. Be sure to read over all the agreement details and ask as many questions as you can. Buying a house with solar panels in a lease ppa if the house you are interested in has a leased solar energy system it means that the current homeowner sends a monthly payment to the company that installed the panels. Additionally solar leases can have escalating payments posing an ongoing liability.

Solar leases can last between ten and twenty years and it can be expensive to buy out the system or roll the lease into the house purchase. Buying a house with solar panels might be worth it. Obtaining mortgage loans with leased solar panels can be a bit more complicated. Other questions when buying a house with leased solar.

Before you buy you ll want to find out more information about the lease terms. Buying the solar panels is a hefty upfront cost to pay before your home sells there may be large penalties for early buy outs we re talking thousands of dollars you can lose money if the penalty fee outweighs the solar s return on investment in the home sale.