Solar is a great way to save on energy costs and add value to your home (if you own it). Leasing solar panels can unfortunately DETOUR potential buyers from your property and devalue your home - here is why:
* 1- Lease terms are typically for 10-20 years. These lease terms must be assumed by the new buyer. Your potential buyer may not want to assume your lease terms and could steer them away from the property. This added payment must now be calculated AGAINST the new buyer and potentially causing them to no longer qualify. If you are thinking about refinancing this payment will also be calculated against you as well.
* 2- Sometimes your lease can impact your property taxes or title to your home. Many times solar leasing companies contracts are tied in through your property taxes or act as a lien on your home (like a mortgage) which shows up on title. Any time you go to refinance your property the company will charge you a fee to re-subordinate their lien.
* 3- If your solar panels are installed on your roof you are giving permission to the company to walk around and anchor mounting pieces into your roof. If you have a tile roof this can lead to cracks in the tiles or potential leaking spots from where brackets are mounted.
