Solar panels and solar pool heating systems are becoming common installations on rooftops. For those buying a home with solar installed, navigating the complexities of solar systems in real estate transactions can be daunting. Here, we’ll explore everything you need to consider when buying a solar-equipped home.
When buying a home with solar installed, you will need to consider the value that it has added. Installing a system increases the value of a home by approximately 4%. Thanks to energy savings, reduction of carbon footprint, and reduced reliance on the grid, more and more people are looking to buy homes with solar. This increased value and popularity means they can sell fast, making it important to have plans in place to consider the rest of the elements discussed here.
What to consider when buying a home with solar
Ownership: Determine if the solar panels are owned outright, leased, or financed. Leased panels may come with transfer restrictions. Financed systems may require additional documentation to transfer ownership.
Condition: Anytime you are buying a home, you have it inspected. The same goes for the solar panels and pool heaters. The best way to do this is to have solar experts look at the systems.
Age: A system’s age can impact if you buy a home with solar. Solar panels have a life span of 25-30 years. Solar pool heating systems have a lifespan of 10-12 years. The older they are, the less efficient they can be, and the sooner you will need to buy new ones. It is also a reminder to check the system’s efficiency. Reduced performance can also indicate underlying issues.
Documentation: Once you have decided to buy a home with a solar pool heating system or solar panels, you should get all documentation from the previous owners. Documentation will help you when you need maintenance in the future.
Buying a home with solar panels is a great way to become energy-independent. If you recently purchased a home with solar panels and need them inspected, or if you own a home and want to benefit from the energy savings, contact Stilwell Solar. We are solar experts and can help you throughout the ownership cycle of solar. Call us at (239) 495-5988 to learn more.
