Buying a home with solar panels? Property owners are looking for ways to reduce their energy consumption and carbon footprint, leading to an increasing number of homes with solar panels installed. Buying a home with a solar energy system pre-installed can be a great investment and a step towards a more sustainable lifestyle. However, there are some key things that prospective homebuyers need to be cautious of when considering a property with a solar panel system in place.
The first thing that buyers should look into when considering a home with solar panels is who installed the system. A reference-quality solar panel system is not just about the panels but also the system design and installation. A poorly installed system can lead to underperformance or even damage to the home. It’s essential to research the solar panel installer’s credentials, review and check their certifications, and ensure they have a good reputation in the industry.
Buying a Home With Solar Panels – Considerations
Buying a home with a professionally installed solar panel system can be an excellent investment, as it will save on energy costs and increase the property’s value. However, purchasing a home with a subpar solar panel installation could cost the new owner more in repairs and maintenance down the line – not to mention lots of frustration.
Prospective homebuyers should be cautious if there is a binding lease agreement on the solar panel system. In some cases, homeowners who install solar panels may enter into a binding lease agreement with a third-party energy provider, which can affect the home’s value and the new homeowner’s ability to change the system. It’s essential to review the lease agreement carefully, including the length of the contract and any potential buyout options. Additionally, it’s crucial to check if the system’s energy production can fulfill the home’s electricity needs or if there are any restrictions on energy usage.
Homebuyers should thoroughly understand the age and performance metrics of the solar panel system. The lifespan of a solar panel system is around 25 to 30 years, but factors like weather and maintenance can affect its lifespan. Prospective buyers should ask for a detailed record of the system’s maintenance and any repairs performed. Additionally, homeowners should ask for the system’s energy production history to assess if it’s adequately fulfilling the property’s energy requirements. If the system does not produce enough energy, it may require costly repairs or replacement.
Finally, it’s crucial to have a professional inspection done on the solar panel system before purchasing the home. A home inspector will check for any significant damage, but they may not be able to determine the solar panel system’s performance. Hiring a solar system inspector to assess the system’s performance can ensure the new homeowner knows about any necessary repairs or maintenance.
Your To-Do List
Buying a home with solar panels can be a great investment and a step towards a more sustainable lifestyle. However, it’s essential to be cautious when considering a property with an existing solar panel system. Buyers should research the installer’s credentials, review the lease agreement, assess the age and performance of the system, and have a professional inspection before making the purchase. By being diligent and thorough in their research, prospective homeowners can ensure they make a sound investment and do not inherit headaches.
As one of the premier Houston solar companies, we always enjoy educating people about the benefits of solar installations.
Please contact us with any questions.