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Hi does solar panels help sell home and increase value?

Im in the process of having  solar panels  installed,  the payments are set for  20  years and offer me 16,000 kw monthly which is great since my home is all electric their is gas hook up on my street, but i am now used to not worrying about gas leaks etc. also they  will be entirely insured repaired and cleaned im not paying anything for the entire  installation  etc they will get all 7 permits  etc any unused kw i dont use i will get a check from atlantic city electric or if i use more than 16,000  i will receive an extra bill from AC electric for me it is worth  it but i might have to relocate soon and want to make sure it is a good selling   point  i know that for 20 years i will pay the set electric bill for 16,000 kw and electric goes up every year. Thank You
  • May 07 - US
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Answers (6)

Understand what you're doing.  You're, in essence, financing the panels with no upfront costs, at a fixed monthly rate.  It's a contract, most likely not assumable, and I would guess that the only way to terminate the contract would be to pay the balance in full.  Be very careful.
  • June 04
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Profile picture for sarre_nine
Pasadenan - $160 / month for electricity? You are correct, you don't need solar. 

But that doesn't go for some. Around here we are on a tiered pricing system. Lowest tier is $0.15 / kwh. Top tier is $0.38 /kwh. A monthly bill of $160 would be great. 

As for the impact on roof replacement, I suspect the that will be minor compared to the ROI solar provides those where the electric bill is over $300 / month. Install of panels is a 1 - 2 day job. Pulling them off should take about the same amount of time. 

Several people I know with solar say that it definitely keeps the house cooler. I've wondered if the panels will actually protect the roof because of the reduced solar exposure to the roof tiles.
  • June 04
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If you are planning on moving, then no do not do it.  Leave it up to the buyer to decide if they want solar.  It will complicate the transaction and most buyers will just move on to the house down the street that does not have these issues.
  • May 16
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Profile picture for hourly7731
We have solar. It cut our electric costs in half. 4years after install we are trying to sell. 2 appraisers said minimal value because they could not find any compariables in the area. We have ICF walls too. Same thing no value. Bottom line. I would not do it again
  • May 16
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Profile picture for Scafunge
It depends on the performance of the system, the aesthetics, and the deal you got on your leased solar array.  I'm betting you're using 16,000 kwh/YEAR ...not month.  Provided your solar array is responsibly installed and will save you money net of your lease payments, it will be a beneficial home improvement.  However, if it's poorly installed, it could detract from curb appeal.   The benefit of a tasteful system is in the fact that you've taken a fully electric house and cost controlled all or most of your operating costs.  Left unchecked, that could be a major deterrent as more and more buyers are becoming aware of and value energy costs.   A leased solar system is not going to add value, but will certainly help ease buyer's concerns about cost of ownership.  Every year electric rates go up, the more desirable your solar system will be.
  • May 16
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Profile picture for blue screen exile
20 year lease obligation will make it harder to sell the home, not easier.

And in most cases, solar does not increase value even if fully paid for, as it increases the cost of re-roofing.  So in most cases it is a wash --- no change to house value.

Gas is usually 1/4 the cost of electricity, and many prefer gas cooking to electric ranges, so it looks like this is likely a poor decision if you are thinking about moving soon.

It sounds to me like a typical sales person gave you the "sales pitch" puffery.

16,000 kwh per month when it is not raining???

Typically about 10 cents per Kwh from the utility company.  Are you paying $160 per month for electricity?  It should be closer to $40 per month, unless you have an inefficient home and are wasting energy on unnecessary things.

Not to mention, with a lease, even after you have paid enough to pay it off, you still typically will be paying as you still don't own the equipment.
  • May 07
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