So you agree to meet with the solar company that called and they are offering solar panels to you at no initial cost. They say that they will save you significant money on your electric bills. You want to save money and our planet so you sign up. Then a few years later you decide to sell the house. You just know that those solar panels will help sell your home and at a higher price…Right?
That’s not always the case… the buyer really likes your home, then their real estate agent tells them that they will need to qualify to take over your solar lease payments for the next 15 to 17 years! If they don’t qualify for the solar lease they can’t buy your house. Or another scenario unfolds…the buyers won’t make an offer unless you buy out the remaining lease payments…OUCH! This can be tens of thousands of dollars! They are worried about the solar equipment-what if it needs to be repaired? What will it cost me? Will I really save that much money on my electric bills?
Be aware of the potential challenges with buying or leasing solar panels and make sure you understand before you sign on the dotted line!