4 solar panel pitfalls I’ve faced with real estate clients

As Realtors, we are often asked if people should install solar panels. There is no question that the addition of solar panels is on the rise. According to the Solar Energy Industries Association, “In 2015, California installed 3,266 MW of solar electric capacity, ranking it first nationally.” And, “Over the next 5 years, California is expected to install…more than 2 times the amount of solar installed over the last five years.” Solar companies offer benefits such as improving the environment, drastically reducing or eliminating your electric bills, removing upfront costs, and even increasing your home value. Some have claimed that, “solar homes have higher property values and sell more quickly than non-solar homes.” But is this really the case? According to FHA and Fannie Mae, whether solar panels add value or are viewed as a liability is still unclear, and that the financial burden likely increases when leasing the solar panels rather than owning them. ...