According to the National Renewable Energy Laboratory, homes with solar panels sell 20% faster and 17% more than those without them. While it's harder to sell a home with a leased solar energy system, it's not impossible. To avoid any liability issues, the seller, the buyer, the real estate agent and the solar energy company must conduct negotiations on the leasing of solar panels in addition to negotiations on the home itself. Solar panels often increase the value of a property, and buyer interest in solar-ready homes is increasing.
Very few properties that can house solar panels sell without them today and, in general, they tend to have higher prices than similar homes in similar areas. The most obvious thing is to provide your buyers with ongoing savings, although you should always reveal the existing system when selling a home with solar panels. The quality of the solar panel system directly affects how the end buyer qualifies for a mortgage loan. They collect electricity during all hours of sunshine and, in many states, you can “sell” the electricity you don't use to the power company so that the panels pay for themselves faster.
Solar panels last between 25 and 50 years, much longer than the 10-year average for most home products. When selling a home with a solar loan, the lending institution can help you transfer the solar loan to the new owner. Solar panels don't require much maintenance and are likely to offer homebuyers greater long-term value. When you sell a home with solar panels, be prepared to explain how much buyers could save on their monthly bills and whether or not they would have to take over any existing contracts.
While solar panels can increase the value of your home, they don't always make it easier to sell the property. In some cases, you can sell solar panels to a new owner for a lump sum or allow them to take care of your payments as a “solar energy purchase”. Depending on your financial agreement with your solar energy installer (purchase with cash or loan), you may have to pay all or part of the installation removal fee. When he first installed a solar panel system in his home, he expected to be able to generate his own electricity for many years and help the environment.
There is already a strong tendency for homeowners to opt for renewable energy, so if you can provide them with ongoing savings in addition to this attractive factor, your home could stand out from the rest. In addition, you can increase the likelihood of a smooth sale if you can communicate the benefits of solar panel ownership to potential buyers and real estate agents. The market will be transformed when homeowners see home sellers getting fair and consistent value for their investments in solar energy, Brookstein said. A significant number of homes that come on the market each year now have solar or green building features, McGill said, and a home can change hands two or three times during the lifespan of a solar panel.
Most homeowners who install solar panels are thrilled with them, McGill said, and are experts at sharing that positive experience with potential buyers.