Real Estate & Rooftop Solar: Navigating Complexities & Misunderstandings
The real estate market's relationship with rooftop solar is complex and often misunderstood. While solar can reduce energy bills, it doesn't always add value to a home. Moreover, lenders prefer buyouts over loan transfers, and many agents lack comfort discussing solar, leading to improper marketing of properties.
Navigating real estate with rooftop solar can be complex. The value of solar systems depends on specific lease or ownership terms. Agents may struggle to understand the nuances, leading to improper listings or showings. This lack of understanding can also result in homes not being properly marketed, hurting potential sales.
Misunderstandings about solar ownership can leave homeowners 'underwater' on their mortgages. U.S. banks like Sunrun, Sunnova, and Vivint Solar prefer solar home purchases with buyout options, not traditional loan transfers. However, residential solar often comes with grandfathered buybacks that can lock new homeowners into outdated rate plans.
The intersection of real estate and rooftop solar is fraught with complexities and misunderstandings. Agents and homeowners alike need to better understand solar systems, their value propositions, and appraisal values to navigate the market effectively. Recent policy shifts may also impact the listing of owned solar systems as assets with value.
