We are a team of experienced real estate agents who specialize in the sale of solar homes in Maryland. A few years ago we noticed that most agents have little to no experience working with clients who own solar homes. With an increasing number of consumers choosing to go solar, we are meeting the demand for solar competent real estate professionals.
While it is impossible to predict the future, there are a number of factors that can determine the effect your solar array will have on your home value and your ability to sell your home. Whether you already have solar panels, or are considering purchasing a home that has solar panels we can help guide you through the process of selling or buying in the solar real estate market.
Yes, in fact, Fannie Mae issued a guideline specifying that if a house has a rooftop solar system, the appraiser should analyze the system and the market to see if it adds value. It would only add significant value if you own the system. If you lease the panels or have a power purchase agreement it may only effect the appraised value of your home a small amount since the appraiser is factoring in energy savings without panel ownership.
According to a recent study by the Lawrence Berkley National Laboratory, solar homes are selling between 3% and 4% more nationally than homes without solar.
No, in Maryland solar panels are exempt from personal property taxes.
The main reason that most buyers find solar homes more attractive is the rising cost of electricity. Energy saving features, such as solar panels, give homes a competitive edge in the market. Consumers are constantly looking for ways to save money. Buying a solar home saves consumers up to 30% on their energy bills over homes without solar.
Depending on what agreement you have with your solar company, you can transfer the panels to the new owner or take them with you to your new home. Power purchase agreements, leasing and owning all have different requirements. Most solar companies are willing to work with you to have panels removed and taken to a new residence or to help streamline the transfer to a new owner. The Lodestar Team has an established relationship with many solar companies in Maryland and can help you figure out the best way to move forward.
You can call, text or email The Lodestar Team and/or follow these links to more information: