Selling Your Solar Home in Phoenix
Moving? Get the Info You Need to Know!
Many people can benefit from solar, but one of the primary concerns many customers bring up has to do with the ability to move. Are you tied to your home for the duration of your purchase agreement? The answer: no, you aren’t! Moving is still perfectly possible. There are just some things you need to know before getting started.
When it comes to selling your solar powered home, you have three primary options: assigning your lease to the new owners, buying out your lease, or removing and taking your panels with you. Here’s a brief explanation of each of these options.
Assigning Your Lease to the New Buyers
Perhaps the most popular option is to simply assign the lease to your new buyers. Assigning the lease is simply transferring the terms of your lease over to the new owners and having them assume responsibility. Your buyers need to know that this will be a part of the agreement to purchase your home, and likewise they’ll need to be approved by SunPower® in order to do so.
Your buyers will need to pass a credit check in order to be eligible to assume your lease. If your buyers are rejected by the credit check (which is highly unlikely), you’ll be required to take a different option. SunPower’s terms do not allow lease owners to simply move their solar panel system and keep their lease.
Buying Out Your Lease
As the name implies, buying out your lease simply means paying the rest of what’s due on your solar panel lease outright to terminate the contract. This may prove to be costly, but the positive is you’ll then own your panels and solar equipment from that point forward. At that point, you can determine how much you believe your solar panel system is worth and potentially even include it in the asking price for your home.
You’ll need to notify SunPower at least 30 days ahead of time so SunPower can assemble an escrow package and deliver it to your escrow company. We can also work with your realtors and escrow company with transferring the title on your solar panel system to your new buyers.
Removing & Moving Your Panels
If you own your panels outright, then you can simply choose to remove your solar panels from your roof and take them with you to your new home! On the positive side, the benefits are there’s very little delay in getting your new home outfitted with solar panels so you can go back to enjoying clean energy.
If you choose this option, you are responsible for all costs pertaining to removing the panels from your existing roof and then re-installing them in your new home. Furthermore, this isn’t always the best option, as your existing panels may not produce enough energy to properly power your new home. It’s strongly advised you speak with an Arizona solar professional and find out if your existing system is right for your new home before undertaking this task.
Likewise, this option is only possible if you already own your panels. If your panels are still under lease, you will be required to buy out your contract before moving. Production requirements from local and federal regulations forbid moving your panels to your new home while maintaining your lease.
To learn more about moving with solar panels or get any of your questions answered, call the experts from Arizona Solar Concepts at (480) 462-6399 today!
