Thoughts on Solar Panels

[Ilena Napoles]

Hi all, 

Newbie here looking for rental home opportunities and we came across a home with solar panels. At this time, all we know is that there are paid for (so no lien) but there is a transfer fee (amount unknown at this time). Any toughts on these. Good or bad deal. Easy to manage? Do they bring value to the property or is it a headache? Thinking about insurance - do they increase cost of insurance? Are they even cover the roof if there is a leak due to the panels? Not expecting all these to be answered but if anyone has any thoughts or a good resource I can go find more information, would really appreciate it! Thank you in advance. Ilena

[Chris Seveney]

It depends on if they are owned or leased, that is important to know.

They will be a headache when they reach their end of life, but if you are buying the home with them and they are paid off, I do not see where they would hurt to use them, as the other option is leave them up there but produce nothing.