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Updated over 6 years ago on . Most recent reply
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Solar Panels - Vendor Owned (Vivint Solar) Value
Good day all -
Looking to clear up cross-messaging I'm getting.
A company out in CA called "Vivint Solar" will install solar panels on my house with no money cost on my end. They are competing with our local utility who is in the process of raising rates substantially, and if I believe them there would be savings over the years. Vivint will own the solar panels and offer a vague, you can purchase them off us in 7 years at a deeply discounted rate.
Question | Argument
Vivint claims that having their solar will raise the value of the property.
A reviewer I read claimed that due to the fact I would not own the solar panels, would actually lower the value of the property.
Would installing Solar Panels you don't own increase the value of the property if sold or would it decrease the value?
Does anyone know Vivint and have an opinion? Their reviews are very mixed.
Please advise and apologies if my posting format is off - this is my first post :)
Appreciate it and you,
- Brian
Most Popular Reply
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unlikely to increase the value of the property, though it depends on the market. These solar programs usually have the issuing entity owning the solar and you renting it from them (for a slight total discount against your currect electric bill)
currently your tenant pays their own electricity, if you buy the solar panels, you then have to build that rate into your rental rate and at a glance it's going to be higher than market average which will turn people off.
Solar is still barely cost effective for early adopters, even with long payback periods. We are a long way away from landlords being able to rent out solar profitably imo