Unsure about today’s solar advantages? You’ve probably experienced the nightmare of selling homes that are equipped with solar panels that are leased. You may have gone so far as to suggest removing the panels and throwing them away to get the property to move on the market.
Bad leases and PPAs are impossible to transfer to the buyer. What buyer wants to be saddled with monthly payments and high-interest rates that wipe out any savings they receive on their utility bills? And what buyer wants to be forced to pay off the balance owed in advance, some 10 years of payments?
Leases are cold and frozen. The solar company that owns the lease sets the terms, and this can kill the deal for the sale. Leased solar energy systems mean that you need to do your homework, checking with the solar companies first, before attempting to close a deal in escrow.
Homeowners that own, and do not lease their solar energy systems, increase the equity in their home AND can sell their homes at a higher price!
Their systems should stay intact. Here’s why:
- Research conducted by the Department of Energy proved that buyers pay more for homes with rooftop solar – An average of $15,000 more for a home with an average-sized photovoltaic system, compared to a home without them.
- Research conducted by the Department of Energy’s SunShot Initiative proved that solar power adds about $25,000 to the average value of a home.
- Research conducted by the National Renewable Energy Laboratory (NREL) proved that homes equipped with solar panels sell 20% faster and for 17% more money.
As long as the homeowner owns the solar energy system, and is not leasing it, they can sell the system with the house and realize a profit. They can quickly move their house on the market. And the new buyers can reap all the benefits of solar heating, solar pool heating, and solar water heating with huge savings on their utility bills.
Investigate more solar advantages for home sellers and buyers at the Sol-Tek Solar website. Sol-Tek Industries, Inc. is a division Westech Systems, the largest commercial construction company in the Central Valley. Their expertise is in customizing Fresno solar energy solutions to fit the needs of our area’s homeowners, designing durable systems for long-term use.
For clients interested in increasing the value of their homes, Sol-Tek offers financing options to help them become owners of their own systems. The solar energy experts at Sol-Tek are available to answer your questions at (559) 325-6907.