Leased solar panels can have both positive and negative impacts on the resale value of a home, but they generally do not increase property value as much as owned solar panels do.
Positive Aspects:
- Attractiveness to Buyers: Leased solar panels can still be attractive to potential buyers who are interested in saving on utility bills or living more sustainably. Studies show that properties with solar panels, even leased ones, are more likely to sell.
- Transferability: Most leases can be transferred to new homeowners, which is often a straightforward process involving coordination with all parties. This allows the new owners to continue benefiting from the solar panels without additional upfront costs.
Negative Aspects:
- Lease Obligations: Buyers may view leased solar panels as a negative feature because they have to assume the lease payments and associated obligations. This could complicate the selling process.
- Limited Appraisal Value: Leased solar panels are not considered part of the property’s value by appraisers, which means they do not directly increase the home’s appraisal value. This contrasts with owned solar systems, which can significantly boost a property’s worth.
- Potential Buyer Hesitation: Some buyers might be deterred by the need to take over a lease agreement, especially if they are not familiar with these contracts or are concerned about future maintenance costs.
To minimize potential issues when selling a home with leased solar panels:
- Transparency: Clearly communicate the lease terms in listing details to avoid misunderstandings.
- Buyout Option: Consider purchasing the panels to own them outright, which can simplify the selling process and potentially increase the home’s value. However, this often involves significant upfront costs.
Overall, while leased solar panels can still add some appeal to a property, they do not contribute to increased property value like owned systems do.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/how-do-leased-solar-panels-impact-the-resale-value-of-a-home/
