Purchasing a property that’s already outfitted with solar panels can be a sound investment. But you need to do your due diligence before signing on the dotted line to avoid making a costly mistake. To determine whether you should proceed with such a sale, consider the following factors. 

What to Ask Before Buying a Home With Solar Panels

1. Who Owns the System?

There are two ways to acquire solar panels: by purchasing them or leasing them. If the homeowner purchased them, ask whether they were financed and, if so, whether they’re paid off. If the homeowner leased them, review the terms of the agreement.

Regardless of who owns the panels, discuss how best to proceed with your realtor. You may be able to assume ownership in a number of ways, but not all of them may be worth it. 

2. How Efficient Is the System?

Review the system’s specifics and the homeowner’s utility bills. Confirm whether the system is as efficient as it’s supposed to be.

If it’s not, it may be a sign that the panels were not installed or maintained properly. Should this be the case, call out a professional to troubleshoot the issue, so you can secure a quote for fixing it. 

3. What Is the Condition of the Panels?

After 25 years, solar panels only produce about 80% of their rated output. You don’t want to replace the system shortly after moving in, so confirm the age of the panels before proceeding with the sale.

Also, review their maintenance records. If there are none or they’re sporadic, the manufacturer may not honor the warranty if an issue arises after you assume ownership.

If you buy a home with solar panels, you can count on Grand Solar for repairs, maintenance, and any necessary upgrades. Based in Honolulu, HI, this contractor has served homeowners across Oahu since 1980. Using components manufactured in America, they offer performance warranties on all of the systems they install. Learn more about their services online, or call (808) 737-3536 to schedule a consultation.