5 Things to Know When Buying a House With Solar Already Installed
Investing in a house that already has solar panels installed can be a smart move. Not only do you get to enjoy the benefits of renewable energy, but you also contribute to a greener planet. But, there are several important factors to consider before making your decision. Here are five important things you should know if you’re buying a house with solar already installed.
1. Check the Age and Condition of the Solar Panels
The longevity and efficiency of solar panels depend on their age and condition. Typically, solar panels last about 25-30 years. If the panels on your prospective home are nearing this age, they might need replacement soon, which could be a significant expense. Ensure that the panels are in good condition and ask for any maintenance records.
2. Understand the Ownership Status
Solar panels can either be owned outright or leased. If the panels are leased, you’ll need to take over the lease agreement, which may mean you’ll need to cover monthly payments for the system. On the other hand, if the panels are owned, they will add value to the property but may also increase its price. Clarify the ownership status to understand your financial obligations.
3. Evaluate the System’s Performance
It’s important to know the efficiency and output of the solar system. Ask for recent electricity bills to assess how much energy the panels generate and how this impacts utility costs. This information will give you an idea of the savings you can expect and the system’s effectiveness.
4. Check for Warranties and Guarantees
Most solar panels come with a performance guarantee and equipment warranty. These can be transferred to the new homeowner in most cases, offering peace of mind and financial protection against any unexpected issues. Make sure to get all the details about any existing warranties.
5. Understand Local Solar Incentives and Net Metering Policies
Different regions have various incentives for solar panel owners, like tax credits, rebates, or feed-in tariffs. Additionally, net metering policies can significantly impact your electricity bills. Research local solar incentives and net metering policies to fully understand the financial benefits of the installed solar system.
Make the Most of Your Solar Energy System with Solar Bear of Tampa
Buying a house with an existing solar panel system can be a great investment, offering environmental benefits and potential cost savings. Remember that you should do your due diligence and understand the specifics of the solar setup.
Need expert advice and answers to all your solar-related questions? Solar Bear of Tampa is here to help! Our solar pros can guide you through the complexities of solar systems, ensuring you make the most informed decision about your energy future. Contact us today at (727) 471-7442 to learn more about how you can benefit from solar energy in your new home.