As you drive through your normal neighborhood you might start to notice some changes and some of those changes are right on the roof. Solar panels have been quite popular lately due to the incentives you’re able to take advantage of. More and more homeowners are making the switch to solar making the chances you buy a home with solar installed a lot higher. You got solar installed a couple years ago and now you’re ready to sell the house, what happens to the solar panels you got installed on the home? Many homeowners will face this problem but don’t worry, you might get that money back.
PV solar energy systems cost the purchaser a good amount of money and selling the home has you thinking about the investment you made and that includes the solar energy system on the roof.
Ground mount solar panel installation in a backyard.
When you got the solar installed, you should have been able to get the incentives awarded from solar programs. That would have helped with the total cost of the panels and then you add the monthly savings and the panels are close to paying themselves out.
One of the main benefits that solar provides is that it helps up the equity of your home, what does that mean? It means that the value of your home goes up to the fact that the home has its own energy source and that has its own value and some of that value will get added to a home as a form of equity. For most homeowners, raising your equity while saving money in the time you have your panels is a no brainer. The amount of equity you gain depends on a lot of factors that you have to add like location, panel size, property size, etc.
Maybe you want to take the solar energy installation with you. It is not recommended that you uninstall the installation due to the fact that the house might not pass inspections and will not be able to be sold. Same goes with Ground mount installation. If something happens to the panels in the process they are covered by a warranty, so it is best to leave the installation as is. If the customer is still making the payments, then when you want to sell the home, you add the remainder of the cost of the solar panel to the total cost of the home. That way the customer doesn’t have to worry about extra payments. The other added value of the panels will get incentivized when appraising the home.
In the end, you will see your return in value of your solar panels and if you want solar in the next place you live in, you already know the process and you can you use the extra equity you got from the older solar energy system to pay for the new panels. You can only remove panels when the system is fully paid for, but that is still highly recommended that you don’t touch the installation because it can damage the system or the home and make the home unsellable. The return in value will be applied so you do not have to worry about losing out on your purchase. We never added the value of the energy you save through the lifetime of the panels when they were in your possession, making solar panels one of the best investments you will ever make.