Buying or Selling a Home with Solar Panels

When you own your solar PV system, it is your choice whether to move them or to leave them at your current home. In order to make the best decision for your situation, this article will help you understand your options. For more Information contact NEC Electric Solar.

LEAVING YOUR PANELS

Your solar installation becomes a part of your home, just like if you were to install a pool, or granite countertops. Likewise, it adds value to your home. According to a Berkeley Lab research study, a solar PV system is considered a premium when selling your home and can increase your asking price by approximately $15,000. Leaving the solar panels can also sell your house faster because solar powered homes are proven to sell quicker than houses that haven’t gone solar. Buyers like the idea of owning a home that does not include electricity bills! 

moVING YOUR PANELS 

Your solar system is yours and should you choose to take it with you, our team is available to consult with you throughout your home search to be sure that your new house will still be a good fit for solar. 

The decision to transfer your solar panels to your new home must be made prior to putting your house on the market. Your solar PV system is considered a fixture, increasing your home's value upon installation and decreasing your home value upon removal. When you choose to move your solar array, there are costs associated with the removal, reinstallation and repair processes. Your new home will most likely have contrasting solar production due to factors including various sun exposure, roof size and location. You must research your new home location’s policies to ensure that your solar PV system will comply with existing rules and regulations.

BUYING A HOME WITH PANELS 

If you purchase a home with fully-owned solar panels, you can instantly benefit from your new solar array! The solar PV system is already paid in full, meaning that you are producing electricity at no additional cost to you.