You see the solar energy sales reps going door-to-door on your street, and maybe your neighbor recently had solar panels installed on their roof. It sounds like a great deal (for your wallet and the environment), but how will it affect your ability to sell your home in the future?
According to the U.S. Department of Energy’s Office of Energy Efficiency & Renewable Energy, a recent study found that home buyers have been willing to pay a premium of about $15,000 for a home with an average-sized solar array.
However, not all home buyers feel this way. Some people don’t like the look of the panels on their roof. Others may not be happy with the contract you signed with the solar company that installed your system.
We’ve seen this come up while house hunting with our buyer clients. Often, the sale of the home does not end the contract with the solar company. The buyer is either required to take up the already existing contract, or pay to have the panels removed. In those cases, the buyer might decide not to pursue purchasing your home.
If you decide going solar is worth it to you, just be sure to carefully read the sales contract so you know what to tell potential buyers if you ever decide to place your home on the market.