Can You Sell Your Home After Installing a Rooftop Solar Array?
If you install a rooftop solar array, what happens if you decide to move? Will you be able to sell your house?
Absolutely. You don’t have to live in your home forever to make solar a smart investment in the future. A home photovoltaic installation won’t stop you from selling. In fact, it can be an advantage.
A Rooftop Solar Array Helps Attract Home Buyers
When it comes time to sell your home, having a real estate listing that stands out among the crowd will help attract more home buyers.
A solar array is an impressive feature for any home. What’s not to like about creating your own electricity and paying little or nothing to the utility company? Advertise your home as solar-powered, and your listing will get a great deal of interest from home buyers.
The attention your photovoltaic system brings may also help you close a sale more quickly. According to the Department of Energy Efficiency and Renewable Energy, a division of the U.S. Department of Energy (DOE), homes with rooftop solar systems often sell twice as fast as similar homes without photovoltaic power.
Rooftop Solar Can Boost Your Sale Price
Selling your home quickly is great, as long as you can command the right price. With a solar array, you shouldn’t have a problem getting fair market value for your property.
And, actually, you may find that your solar-powered home sells at a higher price.
Research from the DOE and the Lawrence Berkeley National Laboratory shows that home buyers pay extra for homes with photovoltaic systems — an average of $15,000 more than they pay for comparable, grid-powered homes.
So even if you still owe a portion of your rooftop solar costs, your home sale price can offset the amount and possibly create a profit.
Why Leasing a Rooftop Solar Array Could be a Problem
Homeowners who purchase their photovoltaic systems see the benefits of selling their home faster and for a higher price. However, if you lease your system, you may have a different experience.
With a solar lease, you have to make at least 15 to 20 years of monthly payments. Most home buyers aren’t interested in taking over that sort of commitment. And some contracts don’t allow for a transfer of ownership, so you may be forced to pay off the lease before selling your home.
Financing a home solar array is affordable for most homeowners today, thanks to the wide range of options. Many lenders don’t require money down for photovoltaic installation, and payment plans offer flexible terms.
Investing in a photovoltaic power system simply makes better economic sense than leasing. If you would like to learn more, Intermountain Wind & Solar has answers. We’re the leading professional solar installers for homeowners throughout Nevada, Idaho, Utah, Colorado and Wyoming. Contact us today to learn more about installing a rooftop solar array at your home or business.