5,230,102
I haven't encountered that, Jordan. We have very few homes with solar power here in the Charlotte area.
I'm sure there is someone here who can help though!
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Lynnea Miller
Bend, OR
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Kathleen Daniels, Prob...
San Jose, CA
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Nina Hollander, Broker
Charlotte, NC
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Michael Jacobs
Pasadena, CA
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Richard Weeks
Dallas, TX
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Mary Yonkers
Erie, PA
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Bob "RealMan" Timm
Minot, ND
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Evelina Tsigelnitskaya
Sunny Isles Beach, FL
482,547
Hi Jordan Ayan,
In our area there are a growing number of homes with solar panels - many in senior communities. This is an ever evolving market and one needs to investigate the specific home seller's situation and agreements. While they are attractive to the homeowner, they are often viewed negatively by buyers due to age or ability for the buyer to qualify to take over a lease (which can take time and affects their debt to income ratio related to their mortgage application).
Of course, if the buyers don't want solar panels, it's a non-starter...
Hope this helps at least a little,
Bruce
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Lynnea Miller
Bend, OR
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Jan Green - Scottsdale...
Scottsdale, AZ
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Michael Jacobs
Pasadena, CA
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
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Mary Yonkers
Erie, PA
5,216,409
No experience. Not dome in the aresa I have serviced. Solar was predominantly used to heat pools!
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Nina Hollander, Broker
Charlotte, NC
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Michael Jacobs
Pasadena, CA
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
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Mary Yonkers
Erie, PA
2,390,620
Solar is so extremely rare here Jordan Ayan I doubt that of the 50,000 residences here we have a dozen homes with a solar panel on them.
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Nina Hollander, Broker
Charlotte, NC
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Michael Jacobs
Pasadena, CA
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Debe Maxwell, CRS
Charlotte, NC
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Mary Yonkers
Erie, PA
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
2,071,025
Not in our area.
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Debe Maxwell, CRS
Charlotte, NC
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Michael Jacobs
Pasadena, CA
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Mary Yonkers
Erie, PA
-
Bob "RealMan" Timm
Minot, ND
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
1,598,452
Same here, no solar in condos
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Michael Jacobs
Pasadena, CA
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Richard Weeks
Dallas, TX
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Mary Yonkers
Erie, PA
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Bob "RealMan" Timm
Minot, ND
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Evelina Tsigelnitskaya
Sunny Isles Beach, FL
5,583,278
we have not had to deal with that in our area.... solar panels are not a big seller here, YET.... eventually, POSSIBLY....
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Nina Hollander, Broker
Charlotte, NC
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Michael Jacobs
Pasadena, CA
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Mary Yonkers
Erie, PA
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Bob "RealMan" Timm
Minot, ND
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Evelina Tsigelnitskaya
Sunny Isles Beach, FL
2,178,603
Perhaps Jan Green can weigh in on this subject.
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Jan Green - Scottsdale...
Scottsdale, AZ
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
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Michael Jacobs
Pasadena, CA
564,494
I have no experience with this
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Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
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Mary Yonkers
Erie, PA
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Bob "RealMan" Timm
Minot, ND
7,836,139
Not enough experience to offer a good answer.
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Michael Jacobs
Pasadena, CA
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Mary Yonkers
Erie, PA
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Bob "RealMan" Timm
Minot, ND
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Evelina Tsigelnitskaya
Sunny Isles Beach, FL
3,345,091
I have not encountered that in CA. I have dealt with many homes that have leased solar ... it does not impact the value if the home. Appraisers don't give solar panels any value to the appraised value of a home.
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Signature Homes & Estates
Gilroy, CA
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Nancy Frimann
Gilroy, CA
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Jan Green - Scottsdale...
Scottsdale, AZ
6,393,494
On my places with solar we are off the grid, the power company tried too many sneaky tricks and my response was to cut the cord and tell them to go away.
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Jan Green - Scottsdale...
Scottsdale, AZ
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Michael Jacobs
Pasadena, CA
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Bob Crane
Stevens Point, WI
911,338
I would ignore it, and just focus on the homes value.
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
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Michael Jacobs
Pasadena, CA
4,882,355
Nothiing we deal with in our area.
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
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Michael Jacobs
Pasadena, CA
2,781,173
This is a good question in considering solar
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
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Michael Jacobs
Pasadena, CA
1,239,901
If it is very new say 2-3 years old the appraiser can adjust 1/3 of actual cost like $5K. With the solar leased system there is no adjustment.
The reason is the owner actually took the tax credit first year. Most new homes have solar already so this is not going worth more so far as valuation with newer homes goes. In Northern CA it takes ~3 years to break even a $15-20K cost of owning solar system. Consumers want the seller to pay for it but will be unwilling to pay much for a used unit same as a used car.
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
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Michael Jacobs
Pasadena, CA
1,231,853
Very few properties in western PA have solar power at this time so I can't offer any advice.
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Michael Jacobs
Pasadena, CA
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
1,844,301
Didn't you ask this already?
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Michael Jacobs
Pasadena, CA
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Debe Maxwell, CRS
Charlotte, NC
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Bob "RealMan" Timm
Minot, ND
5,772,575
Jordan,
This may be a case to consult with a CPA. A
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Michael Jacobs
Pasadena, CA
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Debe Maxwell, CRS
Charlotte, NC
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Bob "RealMan" Timm
Minot, ND
1,045,440
We don't run into to many solar powered homes in Northern Virginia a few homes will have solar panels to assist with hot water but its very rare here
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Amanda Tarnic
Farragut, PA
1,257,045
Net metering is not the be all end all of value for solar panels. First, if the solar panels are leased, there is no value, even if net metering - selling back to the grid exists.
If the solar system is owned, then you have value in the system. There are several components involved in gaining value on an appraisal and when determining value in the list price. I highly recommend taking the Solar course provided by Elevate Energy to learn how to value solar systems:
https://www.elevateenergy.org/selling-the-sun-now-live/
There are several pieces of information needed in order to gain value: Date of installation; price paid; type of panels; azimuth; and you'll need before and after utility bills to show energy savings. An appraiser would either use the market value approach or the income approach depending on the energy savings.
An appraiser would input all the data into this site: pvvalue.com.
Feel free to visit that site.
To find an appraiser in your state that is educated on valuing solar panels, visit appraisalinstitute.org. I see you're in Scottsdale. Here's the list in Arizona:
https://www.myappraisalinstitute.org/findappraiser/green_sustainability_residential.aspx?_ga=2.86033818.348734554.1539012639-1779673662.1538424329
Once under contract, you call the lender to find out if they have a green qualified appraiser on their list. If they don't, send them the above list. This is how it's taught by Appraisal Institute.
Come to my class 12/3 at SAAR and I'll relay all of this, giving you tips and tricks. It's a speaker panel with a lender, appraiser, energy auditor and me. 3 hours Disclosure
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Lynnea Miller
Bend, OR
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Carol Williams
Wenatchee, WA
4,572,183
Like versus like? No clue.
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
962,297
I don't as I've talked to appraisers and they don't give it any value, nor do most lenders.
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Signature Homes & Estates
Gilroy, CA
5,868,554
We are seeing more and more solar panels, and have spoken to appraisers, and they say, they give NO VALUE to a home.
4,936,705
3,986,258
4,434,127
711,852
1,502,998
I don't know if we still or ever did have this in CA. Sorry, doing my first sale of a home with solar now.
2,182,552
4,800,082
3,416,038
It may not be Arizona, but here in NH we have seen Solar boosted 1000%. II just listed a home with solar, and it actually made it harder. Some were afraid of the cost when it came to upgrade batteries on an owned unit. On the one before that it was a leased solar aray. The company gets the eclectic produced and the home owner pays the same rate year round which can start off about half of what their bill is, but rates increase over the lease time.
921,504
Start with the balance sheet. How much money does this arrangement create for the owner?
Is that amount worthwhile taking into consideration any cosmetic costs that exist.
Include the benefit as a value JUST LIKE a brand new kitchen.
Let's say this same property had a detached structure that could or has been converted and able to be rented as a vacation cottage. How would that benefit be presented if most potential buyers really only want a shop or place to stash the John Deer?
WARNING: If your marketing is too focused on vanity metrics or surrogate endpoints, the suspicion that arises will prove counterproductive. Don't try to pump value into something that has little value.
HINT: Focus your value added efforts on those crazies with the coexist bumper stickers.
5,104,931
2,684,109
Talquin Electric (here in northwest Florida) has buy back policy for people who generate extra solar power; but I have not dealt with it. You might want to visit their website.
1,622,432
No metering in CA at the moment, but solar is mandatory for all new constrictions.
716,049
Hi Jordan. I sold a few homes in Phoenix Scottsdale in the last 2 years with elaborate solar systems. In none of the transactions that metering of any sort come into play whatsoever. All those solar systems were owned and not leased - just to add as a comment. And btw, had no effect on the market value of the property.