Would you buy a home with solar panels

[Nicki Shelton]

We are looking at purchasing a home built 2016 in TurnKey condition. It has a new roof new water heater completely renovated. However my concern is the solar panels they are least so you never going to own them outright. And every month you have to pay a leasing fee. What are some things I need to be concerned about regarding the solar panels?

[Patricia Steiner]

A couple of things to know about leasing solar panels:

"Here are the main reasons why a solar lease is a bad choice for most people: Solar leases and PPAs usually have an escalator clause that raises the cost of your electricity by a fixed amount every year. You could end up paying more for electricity than if you didn't go solar at all." (Source:https://www.thesolarnerd.com/b...)

And:  "What happens at the end of the contract? At the end of your initial lease term, your options may include renewing the solar lease contract for one to ten years, upgrading to a newer solar panel system and signing a new contract, or removing the system." (Source: https://modernize.com/solar/le...)

Also, some mortgage lenders won't finance with lease agreements in place.  You should also know that roofers will not remove or reinstall panels should a repair or replacement of the roof be needed.

Before you decide anything, you need to see the lease agreement.  An escalation clause would be a deal breaker for me; then the lender would need to be consulted.  I do know in my market - the sunshine state to be precise - it is HARDER to sell a house with solar panels on it than not.  Amazing...

Best.