How Owning Solar Panels Improves the Future Sale of Your Home
June 29, 2023
In recent years, solar panels have become one of the most popular home additions when it comes to saving money and living sustainably. Homeowners enjoy energy independence, a far smaller carbon footprint and perhaps best of all, lower electricity bills. Today we’ll discuss the benefits of selling a house with solar panels.
However, homeowners often have questions. For starters, does having solar panels affect selling your house? Or more specifically, is it harder to sell a house with solar panels? Absolutely not! In fact, solar adds about 4% to the sale cost of your home.
So, if you’re a homeowner selling a house with owned solar panels, it’s important to understand how owning a system may influence your selling process. Read on to learn more.
Understand Your Solar Panel System
Before listing your home for sale, it’s crucial to thoroughly understand your solar panel system.
Sure, you bought it, but do you know its ins and outs? Likely not entirely — but that’s OK!
To get started, try familiarizing yourself with these factors:
So, how do you access (and thus know) this information? Well, gather the relevant documents, which include these:
- Installation permits
- Financing agreement (selling a house with financed solar panels isn’t as rare as you’d think, by the way)
Once you consolidate all this information, potential buyers can understand the value and benefits your unique home offers. And most importantly, they can understand your solar panel system setup.
Highlight the Benefits of Your System
It’s not breaking news that solar panels offer a range of benefits for homeowners.
First, solar panel systems are aesthetically attractive features because they bring style and science to your property. This is a big plus for buyers scouting for a new home. As a result, do houses with solar sell faster?
In general, they do — spending 13.3% less time on the market. But the speed may depend somewhat on you.
When listing your house for sale, emphasize the benefits of having solar panels. Here are some prime examples:
- Reduced electricity costs
- Potential tax incentives
- Positive environmental impact
- Lower energy consumption
Both eco- and money-conscious buyers will find these perks compelling.
[Related: Tips To Save on Energy Costs]
Determine Your Ownership Structure
You might be wondering, “Can you sell a house with solar panels?”, or maybe, “What happens to solar panels when you sell your house?”.
Well, selling a house with owned solar panels is a much different process than selling a house with solar leasing solar panels. When selling a house with solar panels, you must clarify the ownership structure to potential buyers.
For example, if you own the panels outright, clearly communicate that the system will transfer to the new homeowner as part of the sale.
If you have leased panels, you might be nervous: “Can I sell my house with leased solar panels?!” Don’t worry — you can. However, if you’re leasing your solar panels or have a solar power purchase agreement (PPA), ensure buyers know its terms, obligations and potential transferability.
The more transparent you are, the better. Being honest about your ownership helps avoid any confusion or surprises later during sales negotiations.
Consult With a Solar Installation Company
Another important step while selling a house with solar panels is reaching out to the solar installation company that installed your panels. Why? Well, its guidance is incredibly helpful!
For example, if you recently went for a home solar installation (and/or bought a backup battery for home) from solar panel company Freedom Solar, we’d be more than happy to help you with your house sale transition. (We’ll advise on the solar panel aspect, of course.) We’ll save the other realty tasks for you because we wouldn’t want to take away any of your fun.
Our team (and other solar providers and installation companies) will provide invaluable assistance in terms of explaining your system’s technical aspects to potential buyers.
Pinpoint Your Pricing Strategy
The next important step when selling a home with solar panels is setting a price for your house.
Speaking of price, do houses with solar panels sell for more? Yes, they certainly do! Expect your home’s resale price to improve with solar panels.
So, when determining a pricing point for your home, it’s vital that you factor in your solar panel system’s particular value. For example, a high-quality 9.1 KW home solar installation from Freedom Solar costs $38,000 on average.
But determining your system’s value doesn’t quite end there. You should also take into account these factors:
- Cost of installation
- Potential savings on electricity bills
- Any applicable solar rebates and incentives
If you can, gather sales information on comparable homes with solar panels in your area. This helps you determine a fair asking price!
However, if you’re unsure how to research this information or simply don’t have the time, consider collaborating with a real estate agent. Preferably, enlist an agent who’s experienced in selling homes with solar panels.
Market Your Solar Panels Effectively
So, what’s next? It’s good ol’ marketing!
If you want to attract buyers, effectively marketing your solar-powered home is paramount.
To properly market those top-notch panels of yours, consider noting these factors in your listing:
- Highlighting the benefits of alternative energy
- Emphasizing solar’s long-term savings
- Detailing your solar panel system’s specific features
And don’t forget to include a well-written description and clear, high-resolution photos in your listing. You could even create a pamphlet or brochure with a separate section dedicated just to your solar panels. That way, interested buyers can easily access detailed information about your system.
[Related: 50 Solar Power Facts]
Provide Informative Documentation
During the selling process, provide interested buyers with comprehensive documentation and information regarding your solar panel system.
This type of info may include several documents:
- Relevant warranties
- Maintenance records
- Energy production data (typically your system’s average)
- Any panel-related financial agreements
As we stated earlier, transparency goes a long way — and being organized takes that transparency a step further. You’ll instill confidence in potential buyers and create a smoother transaction when it’s time to start crunching in the numbers.
Selling a House With Solar Panels? Contact Freedom Solar
Now that you know how to sell a house with solar panels, starting the process will be much less of a burden. There truly aren’t many, if any, problems with selling a house with solar panels.
So, if you’re not yet a solar panel system owner but would like to get started, contact Freedom Solar.
We’ll ensure your solar transition is smooth and that you have sufficient information before signing any contracts. You want to be as in the know as possible! That way, if you’re selling a house with solar in the future, you’ll have a solid foundation to start on. much better idea of where to begin.
If you’re currently selling a house with solar panels but are unsure about the process, we’re here to help, too.
Simply give us a call at (800) 504-2337 or complete our online inquiry form. One of our energy consultants will be in touch to assist you ASAP!
Featured image via Unsplash