Buying A House With Leased Solar Panels

Solar leases are typically for a 20 year term and can be costly to buy out.

Buying a house with leased solar panels.

Buying a house with solar panels in a lease ppa if the house you are interested in has a leased solar energy system it means that the current homeowner sends a monthly payment to the company that installed the panels. Some solar panel leases have escalating payments. Before you buy you ll want to find out more information about the lease terms. They can either buy out the remaining lease payments themselves or they can attempt to find a buyer who is willing to take over those solar lease payments.

Be sure to read over all the agreement details and ask as many questions as you can. The homeowner then leased the panels to the power company usually for a 25 year term. If the home has leased solar panels buyers need to find out the lease agreement details including monthly fees and the contract term. Solar leases can last between ten and twenty years and it can be expensive to buy out the system or roll the lease into the house purchase.

Buying a house with leased solar panels is more complicated. Additionally solar leases can have escalating payments posing an ongoing liability. Obtaining mortgage loans with leased solar panels can be a bit more complicated. Homeowners with leased solar panels who are trying to sell only have two options.