Buying A House With Leased Solar Panels

Additionally solar leases can have escalating payments posing an ongoing liability.

Buying a house with leased solar panels.

Homeowners with leased solar panels who are trying to sell only have two options. Before you buy you ll want to find out more information about the lease terms. Some solar panel leases have escalating payments. Buying a house with leased solar panels is more complicated.

The homeowner then leased the panels to the power company usually for a 25 year term. Leased solar panels fully owned solar panels in most cases where solar panels were installed the panels were fitted free of charge by a solar power company. In fact selling a house with leased solar panels may drive down the sales price. They can either buy out the remaining lease payments themselves or they can attempt to find a buyer who is willing to take over those solar lease payments.

Solar leases can last between ten and twenty years and it can be expensive to buy out the system or roll the lease into the house purchase. Buying a house with solar panels might be worth it 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. Obtaining mortgage loans with leased solar panels can be a bit more complicated. If the home has leased solar panels buyers need to find out the lease agreement details including monthly fees and the contract term.