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re: Buying a house with solar panels installed.....
Posted on 5/31/15 at 8:20 pm to Lombardi44
Posted on 5/31/15 at 8:20 pm to Lombardi44
I think solar panels are a good thing but if they're leased, the seller absolutely needs to cover the remaining portion of the lease.
Posted on 5/31/15 at 8:29 pm to TDsngumbo
If they're leased, doesn't the leasing company get the credits? Isn't that how they can offer such good deals?
Posted on 5/31/15 at 10:16 pm to TDsngumbo
quote:
I think solar panels are a good thing but if they're leased, the seller absolutely needs to cover the remaining portion of the lease.
This is the best answer if seller goes for it.
However, your electric bill payments are lower because of the system on your roof. So you could maybe work something out with the seller where you pay a little less and you continue making the lease payments. You get maintenance and repairs, etc all included within the lease so you are protected that it will last for 20 years (or however much is left in this particular lease). You are going to be saving money on your electric bill so there is value there. How much a month has he been saving? Why wouldn't you think that's worth something?
ETA: If you do take over the lease, make ABSOLUTELY sure the lease is a fixed price and it does not have an escalator. Most go up 2.9-3.9% per year if it has one. If it does have one, you need to adjust for that.
This post was edited on 5/31/15 at 10:19 pm
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