Buying A House With Solar Panels Already Installed

It is important to understand the unique aspects of buying a solar equipped home so you can enjoy the benefits of solar energy without having to go through the installation process.

Buying a house with solar panels already installed.

Many homes fitted with solar panels will have had them installed free of charge by a solar power company. Read on to find out if it s really worth it. The solar panel industry boasts an added home value increase of 15 000 20 000 on average largely due to nearly immediate power bill savings. What you need to check before buying a house with solar panels.

If you are interested in buying a house with solar panels one of the first questions to ask is whether the system is host owned or leased. Tell me about solar meters. Solar panels mean cheaper electricity and maybe a revenue stream. In nsw there are 2 types of solar meters gross meters and net meters.

The homeowner will have leased the panels from the solar power company usually for a 25 year term who then has the right to the feed in tariff payments. Buying a house with solar panels already installed is a relatively new phenomenon. That s one reason why it s important to know when the solar panels were installed. Buying a house with solar panels might be worth it.

If you re a homebuyer planning to buy a home that already has solar panels installed here s a quick guide to things you need to know. If the solar panels were installed as part of a rent a roof scheme then there may be complications in obtaining a mortgage. In this article we want to look at some of the questions you need to ask yourself before buying a house with an existing solar system. If it is a leased system ask to review the contract before agreeing to assume the lease and move forward with the sale.

There is therefore a reasonable chance that if you are in the market to buy a new property you will come across properties that already have solar panels installed. Buying a home with solar panels allows homeowners to benefit from solar energy without the headache associated with getting them installed. Choosing whether to buy a house with solar depends on the financing and if a lease or ppa is involved whether the agreement and installation fit your life. If you are buying a house that already has panels on the roof the seller can probably give you an idea of what they were generating.

The homeowner enjoys low energy bills plus the prospect of the feed in tariff after. It s important to note that the feed in tariff closed to new solar pv installations on 31 march 2019 so if the solar panels are newly installed and the current homeowners haven t signed up to the scheme you won t be eligible for the scheme. For example if the lease includes any maintenance cost obligations on the new owner or.