Impact of Leased Solar Panels on Home Resale Value
Leased solar panels generally do not add significant value to a home’s resale value. Here’s why:
- Ownership: Since the homeowner does not own the solar panel system when it is leased, the value of the system is not directly reflected in the home’s appraisal value. The savings on utility bills are also less significant for the homeowner, which can detract from the appeal of the property to potential buyers.
- Complications in Selling: Leased solar panels can complicate the home selling process. Potential buyers may be deterred by the requirement to inherit an ongoing lease agreement, which involves monthly payments. To avoid this complication, homeowners might consider buying out the remainder of the lease to transfer ownership of the panels before selling the home.
- Alternatives for Buyers: When buyers are aware of the lease, some may opt for homes with owned solar systems instead, as these offer clear ownership and more comprehensive benefits in terms of both utility savings and property value appreciation.
Overall, while solar panels can generally increase home value, leased systems offer fewer benefits in this regard compared to owned systems.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/do-leased-solar-panels-impact-the-resale-value-of-a-home/
