Profile picture for martycarrie

How much value is added to a home with whole house solar (rented)?

Our home is in Signal Butte Ranch and has 1717 sq ft; 4 bedroom, 2 bath but we are renting a whole house solar system for approximately $60.00 a month. Does this add any value to the home? If so, how much?
  • November 29 2013 - Signal Butte Ranch
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Answers (10)

Profile picture for RealEstateCrew
Review the Remodel 2013 cost vs. value guide and ask your Realtor Member for a CMA. 
  • December 02 2013
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Profile picture for Rob Hale
The amount of value will vary with each buyer.  How much value is added by upgrading to berber carpet?...only as much value as a buyer feels the berber upgrade/downgrade is worth.  Solar is so new and rare that most buyers probably don't know if it adds value or not.  I have a buyer that has seen a few homes in Signal Butte Ranch but none that have solar systems.  It sounds like you have made a good investment so far, and it would be good for the new buyer.
  • December 02 2013
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Profile picture for martycarrie
Ok, this calls for more detail. We got it installed last April with "0" down. We're currently saving between $50-$60 per month. It's a 20 year contract that is transferrable or if the new owners wish, it can be removed. All maintenance, if there should be any, is the responsibility of the Solar Company. I don't know why I waited so long. It's great!
  • November 30 2013
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This may or may not make a difference to the value of rented premises. You have to go back to the agreement to understand with whom the risks and rewards of such type of system lie. You also have to demonstrate that this is economical compared to traditional power. The type of solar system would also have an impact. Although solar systems are touted as energy savers, they may not be completely reliant and the entire house with all its appliances may not run on solar. Then in fact, this becomes more of a nuisance then an amenity.Best to do a study of the neighbourhood and understand the dynamics of this. 
  • November 30 2013
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Divide your up-front cost by your annual energy savings, and you'll find how long it will take for your solar energy system to pay for itself.

That would work if you owned it but the question refers to a leased, or rented, system...

You cant really do that since most leased systems are installed with NO up front costs, and the company owning the systems receives the state and Federal tax rebates, not the homeowner. Lease agreements dictates the terms of the lease when one sells the system, which may vary,
  • November 30 2013
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Divide your up-front cost by your annual energy savings.

solyndra scandal

  • November 30 2013
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An appraisal is not the way to go, few if any appraisers know anything about solar. An appraisal MIGHT be available if the system was not leased, but owned. 

If its rented (leased), it all depends on the lease agreement. It may be a good thing or bad thing to whoever buys your home. I believe in Mesa solar is very popular so it may be a good thing.  And as Wetdawgs mentioned, there are a lot of factors. Also, there is really no way to 'value' a leased system as the leases between companies vary. I would talk to a Realtor, though, in your area who deals with a lot of homes with solar - they may be able to value it better.....
  • November 30 2013
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Having the solar panels will make the home the attractive to buyer.  To determine if the panels will increase the value of your home, you can have an appraisal done on your home by an appraiser.  
  • November 30 2013
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Profile picture for Ofe Polack
I would say that it may not add any value to the property, buyers do not like to purchase property which  subject to a further commitment to continue the payments.
  • November 29 2013
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Profile picture for wetdawgs
There are a lot of "it depends".  Here are some of the questions to consider:

In your lease contract, what are the terms if you sell?
How much does the system truly generate?     Do you save more than $60 in electric per month?  (frankly, this is a huge number as we've never come close to spending $60/month on electric). 
What is the lease term?  When did it start?  How long does it last?
If it is a 20 year lease, what happens if there are technical issues?
What happens (i.e. who is responsible) if the installation causes issues with the house structure?
Dozens of other questions....

Often leased solar systems are negatives to the value of the house, but then "it depends".





  • November 29 2013
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