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What happens when I sell my home?

Fri, 30 Jun 2017 20:31:49 GMT

Most Homeowner's that go solar end up moving within 3-5 years of purchasing their solar system. There are a few options that you have when you decide to sell your home. Ownership (You Purchased Your Solar System) 1. Most homeowners will fix the remaining cost of the solar system into the sale price of their home. This is an attractive option as the new homeowner's will be purchasing a home with no monthly payment for their solar and if most cases, no electricity costs period! There is no early pay off penalties and you can recoup your investment immediately at closing! 2. The actual agreement is transferable and would just transfer over to the new homeowner. The new homeowner would then assume the monthly payments to pay off the remaining balance of the system. They will then enjoy the monthly savings of solar vs the cost of electricity from the utility company! 3. You own your solar system and have the option to take the system with you. There would be a labor charge for removing the system and doing any roof repairs necessary. However, if you r system is practically close to being paid off, then this might be the most economical way to continue saving long term on electricity costs! Lease or PPA The lease agreement is transferable. The new homeowner would transfer the solar lease into their name and enjoy the monthly savings. At the end of the term of the lease, they will have the option to renew, purchase the system at FMV, or have the solar company remove the system and restore the roof back to it's original state.