A solar lease gave you the opportunity to run on sun without having to pay the $25,595-$33,763 that it costs to install panels in one fell swoop. You’ve saved energy, lowered your utility bills, and felt the undeniable pleasure of sharing these perks when the topic of solar came up with anyone who would listen. Now, you’re ready to sell your house and suddenly, your leased solar panels are looking more like a speed bump than a green light. You wonder, “Just how much will my solar lease impact my home sale?” Here, we’ll cover your options and how to communicate the benefits of solar power to prospective buyers. For added expertise, our guide features advice from top real estate agent Elmer Morales, who has almost two decades of experience selling homes with solar panels in Ontario, CA, the state leading the way in solar energy.
When selling a home with leased solar panels, you must either transfer the lease to your home buyers or purchase the panels from the solar company to conclude the lease early. Both options have their pros and cons so you’ll need to review the terms and conditions of your contract to evaluate which is best for your particular situation. Transferring your solar lease gets you off the hook for any payments owed in the remaining duration of the lease. The process of transferring the lease is fairly straightforward but does require a reasonable amount of coordination between all parties involved in the transaction: you, your real estate agent, the solar company, the buyer, the buyer’s real estate agent, and even the buyer’s mortgage lender.Decide whether to transfer or buy out your solar lease
Transfer your solar lease to eliminate extra costs when selling
