When it comes to selling your home with solar panels already installed, there are several opportunities that work to your advantage. Whether it’s giving a new homeowner the chance to move into an eco-friendly home or the increased home value that comes with a solar energy system, you can benefit from the smart investment you made for your home as you prepare to relocate.
Benefits of Selling a Solar-Powered Home
Before you even list your home for sale, there are a few key factors to keep in mind so you don’t undersell the shining, money-saving feature on your rooftop. Here are the benefits that can come with selling a solar-powered home.
Increased Homed Value With Solar
As a home with solar panels already installed and proven to lower your energy bills, your home has already increased in value. You’re not only saving the new homeowner the time it takes to get solar panels installed, but you’ll be able to show months, if not years, of how effective your solar system is in offsetting energy use in the home. If the system is completely paid off and the new homeowner doesn’t have to worry about making payments, that adds even more value to your home. On average, you can see that value increase by about 4.1%, with that percentage increasing to 5.4% in New York City.
Sell Faster With Solar
Even with the increased cost of purchasing a home with a solar panel installation, houses with solar have historically sold faster than those without. A 2021 report showed that homes with installed solar panels spent less time on the market, about 13.3% less time, and were also about 24.7% more likely to get an offer over the asking price. This can be especially helpful if you’re looking to move quickly.
High In Demand Among Eco-Minded Buyers
Now more than ever, home buyers are not only looking for ways to cut their monthly expenses, but also for ways to help the planet. Factors like climate change are impacting what’s important to today’s buyers and homes that cut down on carbon emissions and run on clean, renewable energy with solar rank at the top. When asked what green feature Americans wanted most for their home, 83% of those surveyed in 2023 said they wanted solar panels most for their home. This beat out energy-efficient appliances which came in at 74%.
Lower Electricity Bills Year-Round
As a solar customer, benefiting from lower electricity bills is a feature you’re already familiar with. This is a great selling point for your home to show the value of the investment you made for the home, whether you bought or leased your solar system.
Letting buyers know about what protection the renewable energy system has can also be a selling point, especially if it’s a SUNation Energy solar array. SUNation offers a lifetime warranty on their installations along with a 10- to 25-year manufacturer product warranty, 10-year roof penetration warranty, and GAF Master Elite Golden Pledge Warranty if a roofing installation was also completed.
Selling a Purchase to Own Solar System
Once you’re ready to sell your solar home, you’ll need to consider what kind of solar system you have. If you purchased your array, is it financed or paid off in cash? Is it a lease or PPA? None of these factors will change whether or not you can sell your home with solar, but it will influence the process to make sure the transition from you to the homeowner is done smoothly.
Purchase To Own Solar Systems
If you financed your solar system, you’ll want to fill out a UCC-1 form and call your solar installer to help you file. You can speak with their representatives to transfer any remaining payments over to the new homeowner or ask about other options.
If you have already paid off your solar panels, then you can simply call your Long Island solar installer to transfer the account to the new homeowner. Selling a home with a solar array that’s paid in full and move-in ready for new homeowners can be a huge selling point, so be sure to include that in your listing.
Leased Solar or PPAs
As the current homeowner, if you leased your solar panels, you don’t own them and can’t sell them to the next owner. You can, however, work with your leasing or PPA company to help you in filing a UCC-1 form and transfer the lease over. Please consult your representative to learn more about their specific process as leases and solar PPAs may vary
Recommendations for Selling Your Home With Solar on Long Island
Before you get started selling your home, here are a few recommendations to put on your checklist to ensure your getting the most for your renewable energy investment:
- Have your solar company assess your system to ensure everything is working properly
- Find a real estate agent who is knowledgeable about selling or buying homes with solar panels
- Highlight how much you’ve saved/how low your energy bills have been
- If your solar installation included a new roof, Tesla Powerwall battery, SPAN Smart Electrical Panel or EV charger, include that information. You have a Smart Energy Home!
Your New Solar Home
Once you’ve successfully sold your solar home in Long Island, it’s time to think about upgrading your new home to gain the same benefits and environmental impact. If you’re a SUNation customer and you’re new home is still within the company’s service area, there are opportunities to save even more should you choose to continue with the SUNation team.
Making the decision to move and sell your home can be a difficult one, but when you’re selling a future-proofed home with solar energy, it can actually make the process easier, faster, and more profitable for you.
For questions about selling your home with solar, or to inquire about getting solar installed on your new or current home, reach out to the friendly team at SUNation at 631-750-9454 or schedule an appointment online.