If you’re wondering what happens to your solar when you move out of your home, you’re not alone. This is a very important question to ask.
The average American moves every five years. It depends on your stage of life and where you’re at, of course.
For instance, if you’re 70 plus years old and in a home that you love and paid off, you may not be moving at all, but if you’re in the 25-50 age range, you’ll most likely be moving more often. You may have already planned on selling in the next 90 days.
The question is, can you still get solar right now and benefit from it if you’re planning to move, or should you or should you not get solar before you move?
The answer is, in most cases, get solar. We’ll explain why.
If You're Unsure If You're Moving Soon, You Should Get Solar
If you’re not sure if you’re moving anytime soon, but think you may in the next 3-6 years, you should still get solar. There’s no reason you shouldn’t. You’ll save money right off the bat.
It doesn’t matter if you do a power purchase agreement, which means you do not own the system. You save money because you get cheaper power from solar-generated power compared to the traditionally generated power.
That’s a power purchase agreement. Getting a loan is where you buy the system and own it.
From there, you have a lower payment. The payment to finance that system is lower than your current power bill. Either way, you’re saving money, so you should probably do it.
If you’re looking into solar to save money, which 99% of folks are, it’s a great choice to make.
Homes Sell 17%-20% Faster When You Have Solar
It depends on a few scenarios.
You should consult with your realtor and look at a few things first, but in most cases, about 80% of the time, you should get solar.
Here’s a story of one of our recent clients who got solar before selling their home.
One of our clients recently put their home up for sale, still got solar, and sold it within three months. Why would they even get solar? What was their motive?
They got a loan, and a lot of the time, loans come with a tax break. Loans are debt, but once they sold their home, that loan (debt) got paid off quickly. Taking out a loan to get solar wasn’t a problem in their mind.
Homes sell 17% to 20% faster when you have solar.
If you’re looking to sell your home, you may want to get solar to sell it faster. It also increases the home’s value.
The new homeowner’s benefit is now they’ll have a low payment (or no payment) on their power bill.
Solar Increases The Perceived Value of Your Home
With a power purchase agreement, like a lease on a solar system, or a loan, they both will increase in value, in a way.
With a loan, you own the system, if you own the house. Therefore, it has a higher value because it’s part of the home.
If you have a power purchase agreement or a lease, it’s increasing the home’s perceived value.
Let’s say you and your neighbor have identical houses. Everything is the same, except you have solar and are saving thousands a year on your power bill, but your neighbor isn’t.
Your home will more than likely be the one someone who is looking for a house chooses. That’s what we mean by ‘perceived value.’
Even though it’s not necessarily higher in value because you don’t own the system, it’s giving a perceived value. Perceived value is another reason why you should still get solar.
Before You Sell Your Home, Get Solar
If you think you’re moving, even in the next three months to a year, you still should get solar because it benefits you and the new homeowner immediately. Everybody wins!
If you have questions about solar, let us know! We’re happy to help you.
Thanks so much for reading our blog on What Happens To Your Solar When You Move Out Of Your Home.
If you’re looking to understand more about solar and learn about the best option to go with when deciding if solar is right for you, check out our blog on Power Purchase Agreements here.