Three pointers when buying a home with solar

Three pointers when buying a home with solar

At Ipsun Solar, we’re dedicated to helping you save the planet and spend less money by generating your own power. We’ve created custom-built solar panel solutions for many homes throughout Virginia, Washington, D.C., and Maryland. But we’d also love to help if you’re moving into a home that already has solar panels installed and make your transition to your new home as smooth as possible. Additionally, if you’re looking for further help transitioning, we recommend talking with these professional D.C. movers. They’ll make your move quick and easy!

You’ve most likely heard some compelling arguments for solar power. And despite the upfront cost, installing residential solar comes with hefty governmental incentives and tax returns, making it even easier for many homeowners to pay off their system (depending on the size) in a matter of a few years.

After that, solar power saves many homeowners hundreds of dollars a month, all while using renewable power and reducing your environmental impact! But if you’re purchasing a home with solar already installed, we’ll help you know what questions to ask the seller so you’re set up to your start experiencing the benefits of your new solar system.

Is the system in working order?

Your first question to the seller should be about the solar system’s condition. Get information on how old the solar panels are, the manufacturers, and who installed them. Ask if there are any current maintenance issues. Collecting these answers will help you know whether their system is a good and reliable one, if you need to pay to get the system in working order, or if you need to update the system.

If the system is updated and well-installed, maintenance is generally minimal. Make sure to check with your solar panel manufacturer to see if there are specific cleaning recommendations for your system. But most solar panels only need a quick rinse or sponge-off if they get dirty.

How will it impact your monthly electric utility costs?

Next, talk to the sellers about how their solar system has impacted their electric bill. Ask to see copies of the bills and an explanation of the breakdown. Savings will depend on several factors, including the size, quality, and location of the system. Ask how much electricity the system typically generates, and how changes in weather and temperatures adjust this number? Some states incentivize the use of solar systems by allowing owners to sell excess electricity produced by their panels back to the grid to service others. This can add additional savings to your monthly electric bill.

Is the system owned or leased?

If the solar panels are owned, then they’ll transfer over to you, no problem, when you purchase the home. If they’re leased by a third party, make sure you find out the details of the contract. Ask about monthly fees as well as the length of the contract. It’s also possible that the system has been purchased with a solar loan or via PACE financing (Property Assessed Clean Energy). Check out this post for more information on these types of solar panel loans.

Solar energy offers environmental benefits and financial benefits that can certainly save you money, even if you’re not the first owner. Ask these questions and get all the information recommended above to make sure you’re making the right purchase. You may also be wondering how your solar panels relate to your homeowner’s insurance. For more information on this topic, check out this quick read.

If you're staying in your current home, now's a wonderful time to go solar!

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