Investing in solar is an exciting option, and you can be sure of years of energy-producing reliability to keep your home running into the future. But, many people who are considering switching to solar are concerned about what would affect their investment should they decide to sell their house. We’ll review the basics to outline your options and explain why solar is still an excellent choice.
Your Solar Payment Method
First, you should consider the method you’ve used to pay for the system. Many homeowners choose to have a solar photovoltaic (PV) system paid for by a solar loan to own the system, receive the federal tax credit of 30% and spread the cost across time. If you’re looking to sell your home before the loan’s term expiration, there are two choices:
Secured Loan: If you have used an equity loan for your home and are required to pay the balance before you sell your home since you used your home as collateral.
A loan that is not secured If you’ve taken out a loan that wasn’t connected to your home. However, you’ll be accountable for paying off the loan. However, you’ll be able to sell your property during that time.
If you have leased your solar system, You can buy the remainder of the lease or sell the lease to the purchaser.
Can I Take My Panels With Me?
Most of the time, bringing your solar panel system on your relocation is not feasible. One reason is that removing the panels is expensive, and the installation demands mean that the roof will need certain repairs or modifications to accommodate the absence of meetings. Furthermore, taking solar panels off will literally remove the value of your home; you’ll pay more to have less leverage in the market where solar power is a popular commodity. It almost always makes more sense to keep your panels on and then either purchase to build a new house with installed solar panels or avail of local and national incentives by putting solar panels in your new home.
Simplify Your Move to Solar
You may be looking at solar PV panels for the first time, or are looking to sell your house with an installed system, be sure that your solar panels will add significant worth and value to your home which is in addition to the energy savings every month is a guarantee that your investment is a good investment when you decide to sell.