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Here’s All Homebuyers Should Know Regarding Solar Panels

Here’s All Homebuyers Should Know Regarding Solar Panels

Here’s All Homebuyers Should Know Regarding Solar Panels

With increased understanding about the financial implications and environmental costs associated with energy sources, a lot of Americans are moving towards alternative tools such as solar panels which are becoming an increasing norm in the country.

According to the Solar Energy Industries Association, America now has adequate solar installations to power almost 6 million homes. Solar installations were once quite expensive to install but now they are quite reasonable and a lot of middle income households are installing them.

Now that a lot of homes are being sold with solar panels installed, it acts as an opportunity for new home buyers to enjoy the benefits of minimum electric bills and a much cleaner environmental footprint. However, the new owner of the house won’t be entitled to solar rebates and tax credits that are enjoyed by the original installer. Solar experts’ advice on installing solar panels in your home to reap cost effective benefits and be environmental friendly.

Here are a few questions you should ponder before buying a home with existing solar panels installed:

1. Are the panels owned or leased? Solar leases are an ongoing liability with fluctuating payments. You need to consult with your existing lender regarding solar settlements. Also, there’s no confirmation that the leasing company might approve you as their new lessee.

2. Who is the manufacturer? If you haven’t yet chosen a solar manufacturer, search around for various manufacturers and see how reputable they are. If the solar panels are from America, that does not necessarily mean that they were manufactured here. Consult thoroughly before making a purchase.

3. Who installed the panels? Ask around for the authenticity of the solar panel company. The roof of your house plays an integral part in its durability and strength. Make sure the installer has properly installed them and has caused no damage. You can also hire the services of a professional who will inspect the home and advice you.

4. Check past electricity bills – Ask for utility bills from the previous year so that you have a clear image of what to expect. Solar panels are created and installed by numerous companies and might operate in a different way, hence, you might have fluctuating bills which also depend upon the usage.

Feel free to consult us for your mortgage concerns, we are available around the clock for you! You can contact us at 877-509-3160.