Buying A House That Has Leased Solar Panels

Be sure to read over all the agreement details and ask as many questions as you can.

Buying a house that has leased solar panels.

Some solar panel leases have escalating payments. 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. The buy out premium is usually the cost of the installation typically 10 15k plus a premium. The homeowner then leased the panels to the power company usually for a 25 year term.

That could cost 500 for an initial audit and another 500 to transfer the panels if the leasing. Solar leases are typically for a 20 year term and can be costly to buy out. Homeowners with leased solar panels who are trying to sell only have two options. They can either buy out the remaining lease payments themselves or they can attempt to find a buyer who is willing to take over those solar lease payments.

Before you buy you ll want to find out more information about the lease terms. That way you can sell the system as part of the home and command a higher selling price. In fact selling a house with leased solar panels may drive down the sales price. Obtaining mortgage loans with leased solar panels can be a bit more complicated.

Buying a house with solar panels might be worth it 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. Some solar leasing companies may offer to relocate their systems from one house to another. Pay the rest of the lease. Leased solar panels fully owned solar panels in most cases where solar panels were installed the panels were fitted free of charge by a solar power company.

Generally you have two options when selling a home with leased solar panels. Buying out the remainder of your lease allows you to own your solar energy system before you sell your home. The homeowner will have leased the panels from the solar power company usually for a 25 year term who then has the right to the feed in tariff payments. Sometimes leases contain buy out clauses meaning the new owner can buy their way out of the lease.

If the home has leased solar panels buyers need to find out the lease agreement details including monthly fees and the contract term. The homeowner enjoys low energy bills plus the prospect of the feed in tariff after 25 years.