Some people are hesitant to buy a home with leased solar panels, for fear it could reduce the home's value, but one seller helped clear up some of those misconceptions in the r/RealEstateAdvice subreddit.
The user said, "My husband and I are looking to buy a house in the North Bay. We liked a house and decided to put an offer in. The issue was our agent. He was rather negative about the solar on the house because the panels are leased instead of owned."
They went on to explain that after recently selling their home, the benefits of leasing solar panels became apparent. The new owner was grandfathered into the system and received the same rates negotiated in 2014. Even with yearly interest rate increases, it remains significantly cheaper than city utility rates.
In addition, the original poster said the monthly payment to use the solar panels is "50% lower than the PG&E bill for homes much smaller."
Furthermore, the company pays for all maintenance, which would normally come out of the homeowners' pockets. Finally, if the homeowner decides to sell the home or is at the end of the lease, the company will cover the costs of removal and disposal.
Because solar panels generate free, clean electricity from sunlight, they reduce the amount of power you need to purchase from the grid, helping to drastically lower your energy bill. Some people even pay nothing or close to $0 for electricity, as excess energy generated by the panels can be sent back to the grid for a credit on their bill. Getting energy from the sun also means reducing reliance on burning dirty fuels that release planet-warming gases into the atmosphere and contribute to rising global temperatures.
Purchasing a rooftop solar system is not within everyone's budget, as it requires a significant upfront investment. But thankfully, companies such as Palmetto make it easy for homeowners to access the benefits of solar without draining their bank accounts through its LightReach leasing program. Some of its plans even feature no money down, and the company customizes your system to make sure it works as intended for your needs.
If leasing isn't for you, EnergySage offers free tools that enable you to compare quotes from vetted contractors and find the best deal on installing solar panels in your area. Palmetto can help you decide if leasing or buying is the best option for you with its free pros and cons comparison.
Save $10,000 on solar panels — or get them on your roof without paying for purchase or installation Whatever your solar budget, Palmetto can help you save. If you want to buy your own panels, Palmetto's concierge advisors can help you save up to $10,000 on installation through a network of preferred installers. And if you'd rather get solar savings without upfront costs, Palmetto's revolutionary LightReach subscription program can deliver. LightReach lets you lease solar panels with no money down, making it painless to lock in long-term savings. Palmetto covers a 25-year warranty for the panels, which means you'll get reliable performance without unforeseen costs. To get started, just answer a few basic questions about your home and connect with Palmetto's experts to find the option that's right for you. |
The original poster shared more details about the leased solar panels in the comments.
"My system (previous) was designed to offset the power needed to run my house. Since I did not have to buy the system back in 2014, I started seeing savings over PG&E immediately," they said. "Our friend, whose house is 900 sq. ft smaller than ours … without solar is still paying 2 times more than we are for power."
"The agent who sold the house we had with the leased solar panels understood the savings," the OP added. "The contract was easy to transfer to the new buyers and they were convinced it was a good idea when they saw the invoices from the Tesla detailing how much I paid per month. They compared it to their current home without solar and understood it was a win-win all around."
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