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The homeowner has no choice, he needs to buy out the contract or be in default, period. If the new buyer does not want it, then the buyer has the wrong home even though he owned it previously. If you have a lease with payments, it is best to buy the system out before even trying to sell. No one wants to assume another payment with a lease payment. When you buy a property you don't have add on expenses. Like it is going to cost another $20,000 for the pool, $2,000 for the shed, $10,000 for solar. It is not a clean way to sell. Buy it out, then set your sales price.
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I except the OP didn't get the answer he wanted and has gone on to other sources of commiseration.Comment
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Sunrun has a dept solely to help you figure out the selling of your home. Use purchase option to buy it out. Add cost to home purchase. I've been a sunrun dealer for many years. Leases are great for a lot of people but definitely not for everyone. Pro reps that are truly pros should be able to make that decision. First off never choose an 2.9 escalator unless your in a reverse mortgage or very senior and don't care about the home after you pass. Otherwise ask for a zero escalator at 10 cents. If you need a panel upgrade you might have to go 11 cents. If they can't go that low than your dealing with a sales company and not the actual installer. Purchase a system if you can use the Fed tax credits. Sales companies sell double what an actual install company sells for. $3 per watt is fair for an installer. This is the only way for a customer to get a true Energy savings.Comment
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Ya, the bottom line with leases is that they offer you no-money-down, but really save you very little money overall. They allow a customer who is motivated to have solar a way to afford it, but whatever savings you see off your electric bill are just paid to the lease company. The only reason to go the lease financing route is because you can't use the tax credits yourself and can't afford to buy it straight out, and are not interested in saving much.BSEE, R11, NABCEP, Chevy BoltEV, >3000kW installedComment
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To the OP, I think you're best strategy is to educate the potential buyer. I find most people who do not want a lease and/or solar do not understand it. What is there not to want? Cheaper electricity than what they would have to pay for anyway? What are they going to do, live off candle power?Comment
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It's not as bad as it seems. Buy out the system and sell your house for market rate + whatever it cost you to buy the system (or more). Solar adds a great deal of value to a house.7.2 kW / LG NeOn 2 300's / Enphase M250Comment
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Solar lease is great option for many home owners if they can save money without any out of pocket expense. What make lease bad is " solar lease with escalation clause" You might be saving money now, but you will end up paying more in the feature. The only ones save/make money is the lease company.
Anyone that tell you solar is free, just give them a finger.
If you believe in free solar, just look yourself in the mirror, that is da dum arseComment
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A solar pv system does not always add value to your home. In some markets it can detract from the value. If it is a leased system that can make the home value even less.
You need to check with the local real estate people. In the eyes of the home owner, solar may not be a priority in a home purchase.Comment
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I see most people didn't notice this thread ended last March, that the OP is long gone after only one reply and that this thread was recently re-started by a new guy adding his comments long after the fact.
Not from what I've read here and also seen myself. Home appraisers around here assign grid-tie solar with zero value, even if it is owned and fully paid for.
Any smart buyer making an offer on a home with a solar lease in force immediately understands the financial opportunity they have in front of them to get the system for next to nothing. They will take full advantage of the seller's poor decision to sign a lease deal.
Dave W. Gilbert AZ
6.63kW grid-tie ownerComment
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I can understand leased panels causing an issue. Owned though? It should increase the value unless the area has the old 'panels are ugly' vibe. My guess is a lot of real estate professionals don't know much about solar, so they just ignore it. -
Yup. Most people get loans for homes and if the bank appraisers say it adds no value then you're stuck. Neither the buyer or the bank are going to up the value just to be fair to the seller. I did a refi from a 30 to a 15 year loan to drop from 5% to 3%. The appraiser noted the solar panels but said their value was questionable so he would not assign any value. I complained but other appraisers agreed with him. My panels were 2 months old at the time, paid for in full and I have a grandfathered contract with the SRP that is transferable to any owner of my property for 20 years. Anyone could do the math and understand the $1300-$1500 savings per year. In the end it did not matter because I had enough equity so I didn't need to fight them further. My panels are all on the rear of the home on a single slope and most people never even know they are there. They are also HOA approved.
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azdave, I bet they look great though!7.2 kW / LG NeOn 2 300's / Enphase M250Comment
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