Prospective homeowners often inquire about solar as it pertains to selling their home in the future. Frequently asked questions include "Does solar add value to my home?" and "How does my solar loan affect my sale?".
There are various studies and reports referenced within the industry that typically conclude that solar does add value to the home. Of course, a variety of factors play into this, and each home is unique in how much value might be added. Factors include state, production of panels, price per watt, brand & warranties, as well as a myriad of factors related to the real estate market. Sales members should be transparent when consulting with prospective homeowners on this topic. (Please note) It should be noted that Palmetto makes no guarantees of any kind as it pertains to resale value. The below information represents high level talking points and guidance only.
|Solar adds value to the home in many cases, and may even make it easier to sell. Added values may vary widely by location and circumstances. One of the most widely cited studies concluded that solar homes sell at a premium of $15,000 vs non solar homes.|
|There are a number of factors at play when calculating added home value. Many pertain directly to your homeowner's new solar sale-- including PPW, production of the system, quality of the equipment, utility net metering policies, and more. As always, Palmetto recommends sales members consider fair market pricing when working with prospective homeowners.|
|When a solar homeowner sells their home, many will simply add the cost of their system (or remaining loan) to the asking price of the home. This allows them to close out their solar financing, and pass the system onto the new homeowner. Alternatively, some homeowners may work with the prospective buyer to transfer their solar financing over.|
|There are a number of studies and news articles on the topic of resale. The below links represent a few references available for sales members to keep handy when consulting with prospective homeowners.
Article A / Article B / Article C / Article D
Note: Palmetto makes no guarantees as it pertains to resale value.
When consulting with a new prospective homeowner on the topic of resale value with solar...
|Be transparent about how added value might vary for a number of different factors||Make guarantees about added value to the home|
|Educate on the various options to pass a solar system on to a new homebuyer||Make guarantees that all prospective buyers will qualify to take over a loan|
|Provide information cited from trustworthy sources||Provide references or news articles from biased or untrusted/unknown sources|