Is it better to buy or lease a solar electric system for your home? I think the solar industry has room for both models, just like the car industry does. Still, the debate rages on, fueled by new information about the pros and cons of leasing, and of purchasing, which are just coming to light in this nascent industry.
The positive impact of a purchased solar energy system on your home’s value has been documented in one study from the Colorado Energy Office and The Appraisal Institute, and another from the U.S. Dept. of Energy’s Lawrence Berkeley National Laboratory. The Colorado study says solar not only increases your home’s value, it decreases its re-sale time. (These links take you to summaries of the studies; links to the actual reports are provided within the summaries.)
But what about the impact of a leased solar energy system when you go to sell your home? Recent news articles by NPR and Bloomberg Business News offer some concerning cautions.
According to the articles, unfamiliarity with the solar lease concept, and nervousness about assuming a long-term lease, are scaring potential buyers away from houses with solar leases, despite the lower electric bills that come with the lease. This uncertainty is extending re-sale timeframes and even lowering home prices in some cases.
This may change as people become more familiar with solar leasing, but for now, if you’re selling your home and have a lease, be prepared for some extra work.
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