EnergySage, a valuable tool that helps you get the best price for solar paneling, recently released a comprehensive guide for everything you need to know about buying your next home with solar panels.
"Not only do solar panels increase your home's value, but they also lower or completely eliminate your electric bill," the energy experts explained.
Overall, buying a home with solar panels is straightforward. This is because the previous homeowner already paid for them in full. The only thing you will have to do is transfer the ownership of the panels to yourself.
"The seller will need to initiate the process by contacting the installer, who can walk you through completing the ownership transfer paperwork and verify that the manufacturer and installation warranties can be transferred to your name," EnergySage wrote. "Once you're the new owner, you'll also want to notify the utility company and fill out an NEM [Net Energy Metering] agreement."
There are unbelievable benefits to purchasing a home that already has solar installed. Your savings will be clear from the start, as you will receive a quicker return on investment.
In addition to money savings on energy bills at the beginning, you will also be able to take advantage of solar incentives. EnergySage makes clear that the Inflation Reduction Act federal tax credits can only be claimed by the original owner and not by the new owner.
However, it explained: "It's a good idea to check with your state or local government, utility company, installer, and equipment manufacturer to ensure you're not missing out on other tax incentives or rebates."
Make sure to check what you can claim with federal tax credits sooner rather than later. The Trump administration has made clear its plan to roll back the IRA tax credits. Thus, it's important to see if you can utilize them before the expected cuts come into effect.
At the same time, you're drastically reducing planet-harming pollution, supporting the environment and the health of your community.
EnergySage is a tried and true tool that can help you save money and protect the planet. The completely free service can help the average homeowner get nearly $10,000 in incentives for solar purchases and installations.
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If you were to install home solar panels, which of these factors would be your primary motivation? Click your choice to see results and speak your mind. |
Energy independence ⚡ Even without buying a home with solar panels, EnergySage's tools can help you get quick solar installation estimates and compare prices. A simple but crucial hack that can help you save thousands. Its mapping tool also provides state-by-state incentive information.
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