You made the switch to solar and have enjoyed lower energy bills, increased home value, and a reduced carbon footprint. However, the time has arrived to sell your home—whether your family has outgrown it, finances require you to look for something else, or you simply want a change. How do you proceed to sell a home with solar panels? Do solar panels help or hurt the home-selling process?
At Prospect Solar, we make it our mission to help our clients understand everything about solar, from economic incentives to environmental benefits to how it affects your home in the housing market. Uncertain how to sell your solar home? Here’s some of the basics:
How Do the Panels Affect the Buyer?
If you’re selling a solar home, you may be curious how the installed panels will affect whoever buys your home. Unless the buyer plans to remove the solar panels once they purchase the home, they will be able to enjoy the same benefits of the solar panels that you have. If they keep the solar panels, this means they will be eligible for economic incentives and lower energy costs, just like you were.
Solar panels also give home equity a big boost. On average, solar panels can increase home resale value by at least $15,000. This translates to you receiving more money for your home and the home being much more appealing on the market! Talk to your realtor about how your array affects your home value.
Can I Take My Array With Me?
It may be possible to remove your solar panels on your current home and re-install them on the home you move into, but this may not be viable or logical for your situation. Depending on the size of your array, your finances, and your home’s value, it may be more financially appealing to purchase and install new panels on your new home instead of moving your current ones. As mentioned, your solar panels will increase your home’s equity, and this extra money you receive from a buyer can come in handy for purchasing your next array.
Should I Choose a Special Realtor?
When searching for the perfect realtor to sell your solar home, you should definitely partner with a realtor who is knowledgeable about solar energy, its incentives, and how to sell solar homes. Many realtors have a Green Designation, which gives them the certification and experience to sell solar-equipped homes. Choosing a Green Designated realtor will ensure you have a smooth solar home-selling experience.
What if I’m Leasing My Solar Panels?
If you do not own your solar panel array, you may have to approach selling your home a little differently, but it doesn’t need to be complicated! For leased or power purchase agreement (PPA) solar panel arrays, you can either transfer the panels to the homebuyer, pay off the rest of your lease, or move your array and lease to your new home. Communicate closely with your realtor and solar provider to determine which option is best for you.
Make the Solar-Home Sale a Breeze with Prospect Solar
The solar experts at Prospect Solar are here to help you understand every part of the solar installation and solar-home selling process. We will assist in determining how to approach your solar home sale to earn the best return on investment for your array, and the best market value for your home. We can also communicate with your realtor when needed.
Selling a solar home? Contact us!