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This is one of those "it depends" questions. Some buyers want solar, others do not, especially if they have to take on monthly payments. A solar system lien on title can present issues for some lenders. Appraisers, in my experience, do not add any value for solar
Troy Erickson AZ Realt...
Fred Griffin presently...
Diego - Based on my experience, home buyers do not see much value in them and consider them more of an inconvenience, and something to avoid.
I don't think solar panels add or detract from a home's value, and would also add that they can be a real issue for a buyer if they are being leased by the current home owner.
Anybody that knows math will know what a poor investment solar really is.
Troy Erickson AZ Realt...
Good morning Diego. They may add value of they are owned and not leased.
Some buyers see value. Whether the panels add or subtract from the value depends upon the property owner or buyer, as applicable in the circumstances. The income tax, property tax and sales tax issues and possibly other tax, regulatory, contractual and other matters are also other important considerations.
Depends where you live. Here is SoCAl it is beneficial for any home since most days are sunny.
They are a positive for me and I do employ them on some of my buildings, but some of the leases that people get involved in can be a detriment.
Stevens Point, WI
It depends on the circumstances...it is hard to give you THR end all be all answer. A
In the western part of Washington State; very little value but trendy
Some of my neighbors installed them where they can be seen from the street. The home is less attractive. HOA not happy.
I think they add value but how much depends on the area, neighborhood and how they present themselves.
It all depends. A lot of people install solar panels with companies that "lease" them. When it's time to sell, things get murky.
Are those panels owned or leased? I have heard reports of leasing rackets in the Western states, including Arizona and Nevada.
Solar panels are not popular in northeast due to fewer sunny days.
In my area, I'm not so sure they add value. It would only be a selling point to those who want the feature.
Solar panels in Inland Empire are very desirable as a selling point. However, one must be cautious as some are leased and the cost must be calculated into the purchase.
Homebuyers may see value, but the appraiser sure doesn't! Also, my neighbors who have added the panels only save a bit in the summer. Their winter bills are more than mine.
The leased ones detract. The owned ones may add value, depending on their age, size and the view of the buyer.
I think it depends on where you live. In my area there is a large segment of the market that would like a solar run house. I have lived off the grid. I like it, too.
Can be a problem if they are lease and new buyers have to take the lease over.
It can do both depending on the buyer
So far, all my buyers have passed on houses that have solar.
I think they merely limit the buyer pool
there are alot of variables here....owned or leased.... area of the country..... magnitude of the property..... and on and on....
Many home sellers are shocked when they discover that the lease must be paid off to provide good title.
If owned, yes there is value. If leased, they are a liability.
I'm with Jeff Dowler CRS . And if the system is leased, can complicate the resale...
It depends on the house. It depends on the buyer.
Are they owned? Or are they leased?
Is a lender involved in the sale?
Some homebuyers see value but not a majority of the buyers I have.
It is the RESPONSIBILITY of the listing agent to present the value of the solar panels...if value exists.
That value could be:
- Doing my part to save the earth
- $280 a month on utility bills
- $100 a month for grid buy back
- Bragging rights
- $xxxx created committed to college fund.
Otherwise you are stuck with an ugly wart of the roof that will explode costs should a roof malfunction occur.
They are just starting to realy pop up here s i have not had any hard sales data yet, the HOWEVER is the leases home iwners are selling place a lien in the home, this may be troube down the road
I have not sold any homes with solar panels.
There seems to be a slight increase in interest in solar around here, but I thinjk they detract from the appearance of the home. The value varies. Owners who got solar installed have told me that they don't notice much difference.
Had solar to heat my pool on my last house! Thought it added value!
It depends. In some climates it's not very worthwhile. I've never had a buyer ask for these and leased panels can complicate a financed sale.
I think if the buyer is concerned about the environment, it is adds to the value.
Not too popular here for residences, but we don have some distillers now that use it here in the city.