Selling a House with Solar Panels: How to Navigate Solar Lease
By 4Pro Energy | Posted on February 15, 2023
Ready to save money on your electric bill?
Selling a house with solar panels can be a great opportunity for homeowners to increase their property value, as it attracts environmentally-conscious buyers. Various states provide financial incentives and tax credits to make these homes more desirable for buyers.
However, it’s important to properly market and showcase the benefits of the solar panel system to attract the right buyers.
In this article, we will share strategies and tactics for successfully selling a house with solar panels. And you’ll learn how to navigate any solar lease agreements.
How to handle the process of selling a house with solar panels
Selling a house with solar panels slightly differs from marketing a traditional house. But with the right approach, you can showcase your solar panels as a valuable asset to potential buyers. Below are some tips on effectively marketing your house with solar panels.
Communicate the cost savings of solar power to prospective buyers
Potential buyers may be more interested in buying your home if you help them understand the benefits of a solar-powered home.
Emphasize the savings on energy bills, protection from rising energy costs, and potential incentives buyers can benefit from if they buy a solar-powered home.
That way, you’ll be able to attract more buyers and increase your chances of selling your home faster and at a higher price – even if you’re selling without a real estate agent.
Mention the solar system in the property listing
Include the fact that your house has solar panels in the listing description. It can grab the attention of potential buyers looking for energy-efficient homes.
Don’t forget to mention the panel size, type, and any warranties or certifications that come with the system.
Showcase the panels in photos
High-quality photos are a must when listing a house. But when it comes to houses with solar panels, they are even more important. Include a few photos of the solar panels in your listing. It’ll give potential buyers an idea of what the panels look like and the size of the system.
Highlight the savings
Solar panels can significantly reduce energy costs for homeowners. It’s one of the driving forces behind people’s decision to switch to solar power.
Include information on the estimated savings you have seen since installing solar panels to appeal to buyers who want to save money on energy costs.
Highlight its positive impact on the environment
Solar panels generate electricity that is both renewable and environmentally-friendly. This makes solar-powered homes a valuable addition for eco-friendly buyers.
Mention solar panels’ cost savings and environmental benefits as significant selling points. It’ll make your house more attractive to environmentally-conscious buyers.
How to Navigate the process of selling a home with solar lease
If your home has a solar lease, it’s important to consider the terms of the lease and how it will be handled during the sale. Especially if the sale is happening before your lease agreement comes to an end. Here are a few options to consider.
Add the debt as part of the property sale
You can incorporate the debt for the solar panels into the amount of the sale of the property. The buyer then pays it off as part of their mortgage.
It’s a win-win.
It allows the buyer to take advantage of solar energy’s benefits without paying for the panels upfront. And it allows you, the seller, to recoup the cost of the panels in the sale of the property.
To achieve this option, you may need a solar loan. It is a specialized loan intended for solar panel installation only. But it’s advisable to consult a solar expert or real estate attorney to understand the legal process. Also, ensure that the buyer is fully aware of the terms of the loan and their responsibilities.
Transfer payments and responsibilities of the contract to the buyer
Here, the buyer takes over all payments and responsibilities associated with the contract for the solar panels. This includes any outstanding debts associated with the contract initiated by the seller when they installed the solar panels.
The contract transfer process may vary depending on the lease terms and the solar company or installer. It is advisable to consult with a solar expert or attorney to understand the process and ensure that it is completed legally and accurately.
While this option may not be suitable for all buyers, as they will be taking on the debt of solar panels, it can be an attractive option for those who are committed to the environmental benefits of solar energy.
Be sure that the buyer is aware of their responsibilities and is comfortable with assuming the debt before proceeding with the purchase, as finance companies have the right to transfer the debt to the new house owners.
Transfer the solar energy system to your new house
This may be the preferred choice for some homeowners, but certain conditions apply. To ensure that the solar energy system meets all safety and performance standards for your new location, you will be required to
- get permits and necessary approvals from your county;
- engineer and design a system that suits the specific requirements of the new location and the electric companies; and
- coordinate with the county and the electric companies to ensure that the system is properly installed and connected to the grid.
There may be additional costs associated with transferring the solar energy system. So, consider these costs and weigh them against the benefits before transferring the solar energy system to your new property.
Be sure to work with an experienced solar energy contractor like 4ProEnergy, who can guide you through the system transfer process.
Selling a house with solar panels can be a great way to attract eco-conscious buyers and increase the value of your home.
With a proper marketing strategy, you can sell your house more quickly and at a better price. You can showcase your solar panels as a valuable asset to potential buyers who want to save money on their electricity bill or want an energy-efficient home.
But it’s important to have a clear grasp of the details of your solar lease when it comes time to sell. You need to understand your options for transferring a solar lease to the new homeowner if you’re selling your home before the end of the lease term. You can either add the debt to your property sale, assign the contract, or transfer the solar system to your new house.
When selling your home, being informed and proactive about your solar lease can ensure a smooth transaction for you and the buyer.
Thinking of selling your solar-powered home? Contact 4ProEnergy to schedule an inspection of your solar system before listing your home for sale.
And if you haven’t already installed solar panels, it may be worth considering as an investment that can increase your home’s value and appeal to many buyers.
Stay safe during Florida’s hurricane season with our comprehensive guide. Discover unique home fortification strategies and advanced technologies that can keep you one step ahead of the storm.
Interested in running your house on solar power but don’t know where to start? This article breaks down the basics to help you get started.
Uncover solar panel costs & factors influencing pricing. Learn about savings, benefits & incentives. How much do solar panels cost? Find out now!