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How much do SOLAR PANELS add to a homes value?

By Scott Godzyk

Real Estate Broker/Owner with Godzyk Real Estate Services NH License 033394

February 16, 2020 05:01 AM

I have a trick question for you. How much value do Solar panels add to a home. I guess the first question is, "are the panels owned or leased?" Lets look at them both ways. It may also depend ho wold they are and where in the USA you are located.

OWNED PANELS: Owning the panels makes more economic sense in the long run. Most often panels tied right into the grid without batteries for storage. There is a greater cost up front, however a greater long term return and or savings.

LEASED PANELS: Leased panels are most common as they require much less of an up front cost. The lease price often increases though balancing out the great savings you see up front. When you sell the home, the panels stay with the lease transferring to the new owner.

THE QUESTION IS THEN HOW MUCH DOES EACH ADD TO THE VALUE OF A HOME? The answer differs depending on you ask. Leased panels can lower the value of a home if the cost of the lease panels are more than the electric savings you are seeing.

In the end, a home owner and or buyer should ask lots of questions. Get it in wroting and look at both to see what is right for you.

That every Buyer or Seller should not choose just any agent, choose the BEST agent for the job. Having an agent that works for you is a must.

My philosophy is simple, provide more personal and professional service to guide my clients through each step of the buying or selling process. All Agents are not created equal and every buyer or seller should take the time to hire the BEST not just the biggest. Those that hire me, find a dedication like no other.

To CONTACT Scott Godzyk please call 603.661.2121 or EMAIL: Sctprop@aol.com .

About the Author: Scott Godzyk is the Owner/Broker of the Godzyk Real Estate Services in Manchester NH. Proud to be locally owned and operated with 34 years of experience, Scott is a leading Agent for Listing and Selling Homes in this area.We are Full Time Agents ready to serve all of your Real Estate needs. Servicing Hillsborough, Rockingham, Merrimack and Belknap counties.

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Michael J. Perry

KW Elite - Lancaster, PA

Lancaster, PA Relo Specialist

Are they the new Swimming Pools ??? I see so many old and rusting Satellite Dishes bogeying up the House’s appearance

Feb 16, 2020 06:32 AM

Scott Godzyk

Manchester, NH

Barbara Todaro

RE/MAX Executive Realty - Happily Retired - Franklin, MA

Previously Affiliated with The Todaro Team

Good morning, Scott Godzyk we don't see too many homes with them here.... I think they're ugly....

Feb 16, 2020 06:50 AM

Scott Godzyk

Manchester, NH

Carol Williams

Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA

Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

Hi Scott,
I played golf the other day with a guy who has leased panels on his home in Arizona and he prefers that option. He doesn't have to worry about any maintenance of the system and his savings exceed the monthly lease payment. I'm sure that's not true in every situation so every case should be analyzed to make an educated decision.

My area in Central Washington has very inexpensive hydropower so the cost of solar doesn't make economic sense to us on either level.

Feb 16, 2020 06:57 AM

Scott Godzyk

Manchester, NH

Nina Hollander, Broker

Coldwell Banker Realty - Charlotte, NC

Your Greater Charlotte Realtor

Hi Scott.... I have no clue how to price the value of solar panels. In 20 years here in Charlotte I've never sold a home with them and don't even recall showing a home with them.

Feb 16, 2020 08:10 AM

Scott Godzyk

Manchester, NH

Sheri Sperry - MCNE®

Coldwell Banker Realty - Sedona, AZ

(928) 274-7355 ~ YOUR Solutions REALTOR®

I have a client who has a fabulous lease option that is transferable. A special deal of $25 a month lease and an electric bill of $25 a month on a two-story 4 BD. 3.5 bath home with a lap pool is pretty great. Potential buyers have a negative feeling about solar due to some of the outlandish leasing agreements. This is not one of them. But it has received a very lukewarm reception.

Feb 16, 2020 08:25 AM

Scott Godzyk

Manchester, NH

Myrl Jeffcoat

Sacramento, CA

Greater Sacramento Realtor - Retired

I've seen solar lease agreements cause issues in the sale of properties.

Feb 16, 2020 08:49 AM

Scott Godzyk

Manchester, NH

Patricia Feager, MBA, CRS, GRI,MRP

DFW FINE PROPERTIES - Flower Mound, TX

Selling Homes Changing Lives

I find this topic to be very subjective between what it means to the seller and to the buyer. Buyers need to do their due dilligence when buying and sellers need to have all the documentation ready for buyers.

Feb 16, 2020 08:14 PM

Scott Godzyk

Manchester, NH

John Pusa

Glendale, CA

Scott Godzyk very valuable report about solar panels add to homes values.

Feb 16, 2020 08:27 PM

Scott Godzyk

Manchester, NH

Scott Godzyk

Godzyk Real Estate Services - Manchester, NH

One of the Manchester NH's area Leading Agents

Thank you Michael Jacobs . I am seeing more and morehome owners ready to sell who have solar panels, most often they are leased and the cost is spelled out. When they are owned though, there can be some income or $0 electric bills. But sellers are not understanding the value or lack of value they really add to price.

Feb 17, 2020 06:27 AM

Michael Jacobs

Pasadena, CA

Scott Godzyk

Godzyk Real Estate Services - Manchester, NH

One of the Manchester NH's area Leading Agents

YES Michael J. Perry exactly and the home i went to list had an above ground pool and solar panels. Both limited in value compared to what they cost to put in

Feb 17, 2020 06:28 AM

Scott Godzyk

Godzyk Real Estate Services - Manchester, NH

One of the Manchester NH's area Leading Agents

NH had a great program from 10 to about 2 years ago Barbara Todaro which huge renates and tax breaks so i see many coming up now. Those are all gone now for new installs. But it is affetcing values and sellers dont get it

Feb 17, 2020 06:29 AM

Scott Godzyk

Godzyk Real Estate Services - Manchester, NH

One of the Manchester NH's area Leading Agents

The leased panels here pretty much have all the profit from the panels go to the company not home owner, it does reduce electric bills but more so if owned. We in NH had a change to get hydro power from Quebec but Carol Williams , one politcial partye voted it down becuase they sid not want to look at power lines. uBt then they block the natural gas pipelines and stop the coal trains? Something has to give as we need some clean power sources here.

Feb 17, 2020 06:34 AM

Carol Williams

Wenatchee, WA

Carol Williams

My friend says he builds a credit each month with the power company due to the energy his panels generate for them. His only cost is $79 per month lease payments. Pretty darned reasonable for Arizona! I don't know how that would compute in NH.

Feb 17, 2020 06:37 AM

Scott Godzyk

Godzyk Real Estate Services - Manchester, NH

One of the Manchester NH's area Leading Agents

I have sold 2 with leases lately Nina Hollander and went to list a home with owned panels. It did not go well as the seller who paid 60k thought it should add 60k of value which it does not.

Feb 17, 2020 06:35 AM

Nina Hollander, Broker

Charlotte, NC

Scott Godzyk

Godzyk Real Estate Services - Manchester, NH

One of the Manchester NH's area Leading Agents

I have seen some good leases and real bad leases Sheri Sperry - MCNE® . you have to negotaite an dinterview companies before signing. One lease compay starts low and by year 5 the lease is more than the electric would be.

Feb 17, 2020 06:36 AM

Scott Godzyk

Godzyk Real Estate Services - Manchester, NH

One of the Manchester NH's area Leading Agents

I just had one hold up a closing Myrl Jeffcoat

Feb 17, 2020 06:37 AM

Scott Godzyk

Godzyk Real Estate Services - Manchester, NH

One of the Manchester NH's area Leading Agents

Well said Patricia Feager, MBA, CRS, GRI,MRP

Feb 17, 2020 06:37 AM

Scott Godzyk

Godzyk Real Estate Services - Manchester, NH

One of the Manchester NH's area Leading Agents

You certainly get more sun in AZ then NH Carol Williams.

Feb 17, 2020 06:38 AM

Scott Godzyk

Godzyk Real Estate Services - Manchester, NH

One of the Manchester NH's area Leading Agents

Thank you John Pusa

Feb 17, 2020 06:38 AM

John Pusa

Glendale, CA

Patricia Feager, MBA, CRS, GRI,MRP

DFW FINE PROPERTIES - Flower Mound, TX

Selling Homes Changing Lives

Scott Godzyk - I would add that the Appraiser can suddenly skew the bottom line the buyers and sellers agreed to. If buyer is using a Lender, Lender needs to advised. Also, the buyer's Home Insurance Agent also needs to provide input into what it costs and whether or not they cover homes with solar panels and at what cost. Although, I never represented a client with solar panels, a home in my area was for sale and had SPs. Because of all the issues that came up beyond the contract terms, an attorney had to be involved (TX is a Title State) and attorneys are optional. Once the attorney got involved it caused a long delay in closing - how do I know this? My previous clients were friends of the neighbor's whose house was for sale. As you know, neighbors talk and they relay information to everyone! In the end, the value shifted significantly. The buyer followed through with the sale at a huge reduction and boy, oh boy, every neighbor who planned on selling decided to wait until the smoke cleared and market values went back up.

Feb 17, 2020 09:05 AM

Kathy Streib

Cypress, TX

Home Stager/Redesign

Hi Scott- I saw more of the solar panels in Florida than I have in Houston. I have no idea what route we would go if we were to look into solar panels.

Feb 17, 2020 07:40 PM