What Happens When You Sell Your Solar Home?
getsolar.com
A rooftop solar photovoltaic (PV) system is a long-term investment in your property: that the typical warranty on a solar PV panels is 20 to25 years. And can do a lot over the course of two decades, includingchange your address. So what happens to that solar home energy systemwhen you sell your house?
The short answer is that it stays with the house. And, depending onthe market, your solar home may well sell at a premium compared tonon-solar homes. In October of last year, for instance, the NationalRenewable Energy Laboratory (NREL) published a study showing that solar homes in San Diego typically sell for 15 percent to20 percent more than homes without rooftop solar systems.
Why the premium for solar? Well, the monthly cost of owning a solarhome is lower than owning a non-solar home. This means more money isavailable for things like, oh, your mortgage payment. Plus, ifelectricity prices increase, the solar panel owner’s savings increase, too. This is because a portion of their electricity usage will be locked into a fixed power rate.
If you’re in the market to buy a home, don’t let the higher price of a home with a rooftop solar system discourage you. You’re getting all ofthe aforementioned benefits and you can apply for an energy efficientmortgage, a program made possible by the U.S. Department of Housing andUrban Development. The mortgage can be as much as 20,000 more than amortgage for a home without a solar PV energy system.
What Happens When You Sell Your Solar Home?
