So you’ve decided to move, but you’re worried about how selling a house with solar panels works. You can’t take a custom-fit solar power system to your new home, so how do you transfer ownership to the new homeowners?
In this article, our solar panel experts at PES Solar share the answer plus other tips for selling your solar-powered house.
How To Communicate the Benefits of Solar Panels
As solar panels become increasingly popular because they reduce energy bills and have positive effects on the environment, houses with solar energy systems are selling faster than those without. However, a home with solar panels is more expensive, and many buyers and real estate agents aren’t aware of the benefits.
If potential buyers are unsure why the home’s price is higher, you can inform them of the long-term financial advantages of getting energy from the sun.
- Lower energy bills
- Increased home value
- Net metering credit
Electricity can be expensive, but energy costs could be significantly lower when you make your own power. Power companies offer net metering credit to homeowners whose solar panels generate excess energy that goes into the power grid.
Solar power panels are typically recyclable and generate energy without pollution, carbon emissions, or excess waste. The eco-friendliness of solar panels can be a selling point for your home for buyers looking to reduce their carbon footprint.
Tips for Selling a House Having Solar Panels
When selling a house having solar panels, here are some items for your checklist before closing a sale.
Appraise Your Home
If you added solar panels to your home, you should get an updated appraisal to determine the property’s value. The valuation of the solar power system might take into account the return on investment for buyers, the cost of the installation, or the value compared to homes without solar panels.
Transfer Warranties and Service Agreements
Solar panels typically have various contracts and warranties from the manufacturer or the solar company that installed them. Your provider can help you transfer the agreements to the new homeowners.
Settle Solar Panel Financing
It’s easier to sell your home if you own your solar panels outright, but if you’re financing them, you’ll have to work with the buyers and other parties to transfer or resolve the remaining costs.
- Secured solar panel loan: You must pay off the loan before selling your home.
- Unsecured solar panel loan: You can sell your home without resolving the loan.
- Solar panel lease: You can either pay the remaining lease payments or transfer the lease to the home buyer.
Increase the Value of Your Home With Solar Panels
Selling a house with solar panels isn’t as complicated as it might seem, and it gets simpler when you keep our tips in mind. PES Solar is a professional solar panel installation company with extensive experience helping homeowners get affordable, cost-saving solar power.