Are you considering purchasing a home that has already been outfitted with solar panels? If so, there are several important things to consider before purchasing. Solar panels can be a valuable addition to a home, but it's important to understand what you're getting into before signing on the dotted line.
In this article, we'll discuss ten important things you should know when buying a house with solar panels.
Understand the solar panel system
Before buying a home with solar panels, it's important to understand how the system works. Ask the previous homeowner or installer for information on the system's size, age, and condition. This will give you a better idea of what you can expect in terms of energy output and maintenance.
Check the warranty
Solar panel systems usually come with a warranty that covers any defects or performance issues for a set period. Be sure to ask for a copy of the warranty and review it carefully before purchasing. You'll want to know exactly what is covered and for how long.
Consider the age of the system
Solar panels have a lifespan of around 25-30 years. If the system on the home you're considering is nearing the end of its lifespan, you may need to replace it sooner than you anticipated. This can be a significant expense, so be sure to factor it into your decision-making process.
Look at the energy bills
Ask the previous homeowner for copies of their energy bills so you can see how much money they saved with the solar panel system. This will give you a good idea of what you can expect to save on your own energy bills if you decide to buy the home.
Check for permits
Make sure the solar panel system was installed with the proper permits. If not, you may be required to obtain retroactive permits or even remove the system altogether. This can be a costly and time-consuming process, so it's important to check before making your purchase.
Check the roof's condition
The solar panel system is mounted on the roof, so it's important to make sure the roof is in good condition before purchasing the home. If the roof needs repairs or replacement, it could impact the performance of the solar panels or even require them to be removed temporarily.
Consider the orientation of the panels
The orientation of the solar panels can impact their performance. Ideally, the panels should face south and have an unobstructed view of the sun. If the panels face east or west, they may not generate as much energy as they would if they faced south.
Understand the interconnection agreement
In order to sell excess energy back to the grid, you'll need to have an interconnection agreement in place with your utility company. Make sure you understand the terms of this agreement before purchasing a home with solar panels.
Consider the impact on property value
Solar panels can increase the value of a home, but it's important to understand how they may impact the property's value in your specific market. Research to see how many homes with solar panels are selling in your area.
Know the maintenance requirements
Solar panels require regular maintenance to keep them operating efficiently. Ask the previous homeowner or installer for information on maintenance requirements and costs. This will give you a better idea of what you can expect in terms of ongoing expenses.