Did you know that the prices of some solar panels have gone down bynearly 70%? That means it’s more likely that you could be buying a house with owned solar panels. And if you’re on the hunt for a new space, you need to know what to expect from solar panels.
Read on to discover what you should know when buying a house with fully owned solar panels!
Should You Buy a House with Solar Panels?
Yes, you should! Buying a house with fully owned solar panels means that you won’t have to worry about making monthly payments for them. Additionally, you won’t have a lien on your home because the panels have not been paid for in full.And unlike leasing situations, you won’t need to deal with transfer agreements.
Even if you don’t live in a place with sunny weather, you still stand to gain a lot. Solar panels can receive light reflected by clouds. But if you hit a stormy stretch, having excess energy stored in a solar battery can make up for energy production losses.
Understand What Type of Solar Panel System You’ll Have
When you’re buying a house with solar panels, make sure you know what kind of panels you’re getting. For instance, you mighthave monocrystalline or polycrystalline panels. These are popular choices, with monocrystalline being the more durable option.
Or you might have solar roof shingles. These panels provide robust solar energy and look sleek, too! If you’re not sure about the capacity of your residential solar system, solar technicians can help.
Learn About the Panel Installation Details
Who installed your home’s solar panels, and when? It’s critical to find this out when buying a house with solar panels. After all, if you need repair work after a severe storm, you want the right contact information.
Check to see if there is a warranty to cover workmanship. For instance, if you see defects in the glass or one of the panels fails, a warranty can help with costs. Typically, these warranties will last for a decade — but you’ll want to know how much time remains if there are any issues.
Look into Net Metering
Ask the owner how the solar panels have performed before you seal the deal on a new home purchase. They should be able to give you an estimate of how much their utility bills went down.
You’ll also want to see if you can sell unneeded energy to a public-utility grid. This is a process called net metering, and you can save excess electricity for later use.
You could potentially earn some money for your energy! Ask to see an interconnection agreement. This contract should indicate your billing structure and any benefits you might gain from net metering.
Investigate Buying a House with Owned Solar Panels
If you’re buying a house with owned solar panels, you’re making a wise investment. If possible, talk to the home’s current owner to learn about utility savings and net metering. And find out if a warranty is in place— and what type of panels you have.
When you need help with your solar panels,contact us,and we’ll be there!
Signal Alarms and Electric is an electrical contractor in Southern California providing full capacity electrical contracting services for new construction, renovations, tenant improvements, service upgrades, exterior, interior, and landscape lighting, retrofits, and service installations in the Southern California/Los Angeles County area.