A home with a photovoltaic power system installed holds more value than a similar home without one. The amount of value, however, often varies. Calculating the difference requires considering many factors, including:
- size of the PV system
- age since installation
- position of the panels
- condition and performance of the system
- type of panels used
- the home’s location
Depending on the buyer and the seller, several other considerations come into play. Some photovoltaic panel systems are under a lease agreement, which means a third party owns the system and the homeowner is renting it. The buyer might need to negotiate a purchase from the third party, but that also means they would own the system outright – along with all the benefits of generating their own electricity from the power of the sun.
Another possibility is that the homeowner bought the system with a loan, and the buyer may need to take over the payments. Again, once the payments are complete, the buyer owns the system outright and reaps all the benefits. In fact, as they take over the payments, they can still benefit from net metering, where the local utility gives them a rebate or credit for every kilowatt they send into the local electrical grid.
Get the Facts About Solar Panels
Of course, any of these scenarios can be worked out to the satisfaction of the buyer and the seller. Every solar panel system in California has benefits, and we want you to understand what they are. If you have any questions about how a solar panel system works and why they’re beneficial for your home, start by giving Solaron a call. We’re happy to help you see the value of solar panel systems. You can reach us by phone, or you can list your questions using our online form. And if the home you buy doesn’t have a solar panel system yet, we’re happy to help you fix that problem!