Selling Your Home and Not Sure What to Do About Your Solar Panels?
Solar panels are a great way to cut down on energy costs, but between purchasing and installing the actual equipment and getting the necessary permits, they can be a big investment. If a new job, a new baby, or simple wanderlust is taking you to another city, state, or county as you purchase a new home, what to do with that solar investment is a question you’ll have to answer.
Whether you end up selling your solar panels along with your home or taking them with you to your new home can involves several considerations. In this article, we take a look at how to make the decision about moving solar panels when you buy a new home.
Buying vs. Leasing Solar
If you own your own solar panels, they qualify as a fixture of your home – and an energy-saving one at that. So if you decide to leave them behind, they can increase the asking price when your house hits the market – sometimes by as much as $15,000. If you opt to take them with you, owning them allows you to avoid the hiccups incurred by getting out of a lease.
If you’ve been leasing your solar panels, get in touch with your solar provider to see if you can continue that lease in your new location. If not, you can either buy out the remaining time on the lease, or have the new tenant of your home take it over. Consult both your provider and the rules and regulations of your city to verify that these options are possible.
Damage Control: Moving Solar Panels Carefully
If you’re determined to pack your panels into that U-Haul, bear in mind that de-installing solar technology isn’t a pretty process. You’ll want to make sure you factor in the cost of repairing any holes in the home’s exterior, or even re-roofing entirely to eliminate the discoloration caused by the panels’ presence.
Also, don’t forget to check the warranty on your panels to make sure that it covers any damage incurred by de-installation, and see if the company who installed the panels in the first place is willing to remove them.
Location, Location, Location
Where your new home is located is a huge factor in deciding whether to bring along your panels. Every city, state, and county has different regulations about installation, permits, and tax credit availability, so make sure you check out your new town’s policies before making your choice.
The availability of sunlight, and therefore of solar power, year-round also varies in different places. If you’re moving from LA to Wisconsin, that environmental shift might make solar less efficient for you, so it may be worth padding that asking price instead.
Lastly, try to find out if net metering is available in your new city; through this kind of energy-sharing, you might be able to pay for the extra solar energy your neighbor isn’t using, and you can leave your own panels behind to add to the value of your home.