To Solar Or Not To Solar?

Certainly solar panels are increasingly popular, particularly in California where sunshine is plentiful. Studies indicate that solar can increase a home’s value. But the LA Times reports that leasing solar panels can actually hurt homeowners when it comes time to sell.

Many solar companies offer a leasing plan with no upfront costs for installation. But potential buyers may be hesitant to take on these leasing payments for the next 15+ years because not only do they have to qualify for credit themselves through the solar company but some some would-be buyers are concerned that the the equipment will become obsolete or the savings will not be significant once the leasing fee is paid.

In fact, some home buyers are refusing to buy until the seller pays off the remaining lease payments, which can amount to $15,000 or more.

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