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Solar leases cause the most difficulty when owners of solar homes go to sell, according to a Colorado real-estate agent who trains shareit install other professionals on solar home sales—but that's only one of five problems that commonly arise when solar homes go on the market.
"No two transactions are alike, so if one has solar, that’s fine. As long as everybody knows what they’re doing, it’s easy to get taken care of, and it doesn’t have to be that complicated.”
But homeowners can feel it's too complicated, and that uncertainty may impede solar home sales and even slow the growth of solar installations, McGill said, largely because of these five issues.
The multiple listing service (MLS) in most markets now includes "green fields" for agents to fill out in a home's market profile. The green fields list a home's environmentally-friendly features, such as solar PV, passive solar, energy efficiency or LEED certification. Some appraisers know how these features add value to a home, but others may not.
"If you can’t find a qualified appraiser and the MLS green fields have not been filled out, then finding data to support the list price and any addition for solar can be really difficult."
Solar leases immediately generate utility savings for homeowners, but the panels remain the property of the solar installer. Some homeowners are surprised to discover the lease adds no real value to the home, McGill said, and some buyers may be unwilling to continue the lease.
The monthly expense from the lease may even disqualify some buyers by raising their debt-to-income ratio.
"No two transactions are alike, so if one has solar, that’s fine. As long as everybody knows what they’re doing, it’s easy to get taken care of, and it doesn’t have to be that complicated.”
But homeowners can feel it's too complicated, and that uncertainty may impede solar home sales and even slow the growth of solar installations, McGill said, largely because of these five issues.
The multiple listing service (MLS) in most markets now includes "green fields" for agents to fill out in a home's market profile. The green fields list a home's environmentally-friendly features, such as solar PV, passive solar, energy efficiency or LEED certification. Some appraisers know how these features add value to a home, but others may not.
"If you can’t find a qualified appraiser and the MLS green fields have not been filled out, then finding data to support the list price and any addition for solar can be really difficult."
Solar leases immediately generate utility savings for homeowners, but the panels remain the property of the solar installer. Some homeowners are surprised to discover the lease adds no real value to the home, McGill said, and some buyers may be unwilling to continue the lease.
The monthly expense from the lease may even disqualify some buyers by raising their debt-to-income ratio.
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