Buying A House With Leased Solar Panels

Buying a house with leased solar panels is more complicated.

Buying a house with leased solar panels.

Solar leases are typically for a 20 year term and can be costly to buy out. Obtaining mortgage loans with leased solar panels can be a bit more complicated. Homeowners with leased solar panels who are trying to sell only have two options. Leased solar panels fully owned solar panels in most cases where solar panels were installed the panels were fitted free of charge by a solar power company.

Buying a house with solar panels in a lease ppa if the house you are interested in has a leased solar energy system it means that the current homeowner sends a monthly payment to the company that installed the panels. Solar leases can last between ten and twenty years and it can be expensive to buy out the system or roll the lease into the house purchase. If the home has leased solar panels buyers need to find out the lease agreement details including monthly fees and the contract term. Be sure to read over all the agreement details and ask as many questions as you can.

Additionally solar leases can have escalating payments posing an ongoing liability. Before you buy you ll want to find out more information about the lease terms. Buying a house with solar panels might be worth it choosing whether to buy a house with solar depends on the financing and if a lease or ppa is involved whether the agreement and installation fit your life. They can either buy out the remaining lease payments themselves or they can attempt to find a buyer who is willing to take over those solar lease payments.