*Data from US Energy Information Administration (EIA).
Energy-efficient homes in places like Orlando or San Francisco cost more because of their higher average monthly energy costs. Homebuyers benefit from long-term savings and sellers benefit from higher market values for solar-powered homes.
Local solar market
Many states offer tax incentives to encourage homeowners to go solar. This will make the transition to solar energy cheaper and help the country develop its solar energy potential. Solar homes in states with a solar company will sell for higher market values than homes in states with little or no solar growth.
According to the Solar Energy Industries Association (SEIA), the following states have the best solar markets :
Owned and leased solar systems
Homeowners should ensure that they can legally transfer their solar system to a new owner when they sell their home. Most solar companies offer several payment options. These two options, full payment and solar lease , give homeowners the most flexibility when selling their solar home.
Full payment is the best way to ensure a smooth transition for new buyers. This requires the original owner to make a large upfront investment to own the system, but makes it easier to include the system in the sale of the home.
With a solar lease, the solar company retains ownership of the system. Solar leasing requires a purchase or transfer. At the time of purchase, the owner pays the remaining amount so that the system covers the rent. This allows home buyers to start a new lease with the solar company. Depending on how much time is left on your lease, this can add up to a significant amount.
When a lease is granted, the current rent is transferred from the buyer to the new owner. The new owner covers the rental costs and the remaining time specified in the contract. Many companies require a credit check to make sure the new owner can take over the lease. This can delay the sale of your home if the prospective buyer does not meet the company's requirements.
The state of the solar system
The value of your home will increase significantly if your systems are modern and in good condition. An outdated and poorly maintained system will not attract buyers and may discourage them. If you are interested in selling your home with a solar system, make sure it is in good shape with regular care and maintenance .
Age is another variable that can reduce the resale value of your home. Most solar systems last 25 to 40 years with excellent care and maintenance. If your system is 10 years old or older, the new owner can use it for 15 years after purchase. Any home with a solar system older than 10-15 years will not benefit the buyer.
If you are considering buying a home with a solar system, ask the seller for complete documentation on the system. They should provide original sales details, warranty coverage , technical issues and service repairs. You should get a complete history of the solar system from installation to present.
