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What Happens to My Solar System If I Sell My House?

As a home investment, solar offers a lot of long-term benefit possibilities like lower electricity bills, reduced reliance on fossil fuels, and protection from the ever-rising cost of traditional energy. But what happens when you decide to sell your home after your solar panels are installed on your roof? 

 

On the plus side, the benefits of solar savings start from day 1, and solar panels can lend a significant boost to the resale value of your home. That means even if you are considering installing solar but are concerned you might have to sell it in the near future, solar is still likely to increase your bottom line.

 

Solar Panels and Your Home’s Resale Value 

Today, the housing market in South Africa is heavily favouring homes with sustainable features, and especially solar panels. Reliable energy is becoming more and more of a selling point as Eskom becomes less reliable, equipment continues to age and their prices continue to rise. A home with solar panels already installed is a big attraction to most buyers. 

 

What If I Still Have Payments to Make on My System When I Sell?

If you happen to sell your home before your payments on your solar lease are complete, you have a couple of options. If you own your panels outright but are still making payments, you will be able to cover the rest of your costs with the additional profits from the sale of your home. If you are leasing, your options are to 1. Pay the rest of the lease before you sell your home, essentially buying the system to include it in the sale of your home, or 2. Transfer the lease to a new owner when you sell.  

 

Your Home Will Thank You

And for sure your real estate agent will thank you, too! It’s easier to sell a home with solar than without in some cases, so if you’re on the fence about installing solar panels on your roof, there’s never been a better time to jump. Let’s take the next step to energy independence together, and help your home get a boost in the market.

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