We've listed out the more important things you need to know (and do) when buying or selling a home with solar.
First and foremost, if there is any question about whether or not the system is operational, or about the system's energy production, we recommend that you have us come out and do a solar inspection. You can read more about inspections here.
Aside from the obvious of making sure the system is working, here's what you need to know:
The three main items to address are:
- Transferring Solar Interconnect Agreement (owned systems)
- Transferring Warranties
- Appraisal Form for a House with Solar Panels
Transferring Solar Interconnect Agreement:
- Owned Solar Photovoltaic (PV) Systems have an Interconnection Agreement with the homeowner's utility that gives the homeowner permission to operate as a recognized small generator of electricity and provides a legal mechanism for the Utility operator to purchase that electricity under a Net Metering agreement. This contract is transferred to the new homeowner upon selling the home through an Assignment of Contract process.
- Leased Solar is handled through the Leasing Company.
Transferring Warranties:
- The original equipment manufacturer (OEM) provides most warranties and guarantees for the Solar (PV) system. The equipment warranties vary but are essentially 10 to 25 years for the main components; Solar Panels & Inverter(s).
- The inverter warranty and the solar panel warranty are transferrable.
- Solar Side Up, LLC offers a limited ten-year warranty on the craftsmanship of the installation.
Appraisals:
We recommend filling out the solar panel section (page 3) of the Residential Green and Energy Efficiency Addendum (Appraisal Institute form) and verify that lenders know how to request a qualified appraiser to assess the value of your system when you receive an offer.
Please get in touch with us for any Solar Side Up customer we installed. We should have information about the equipment that was installed and can help transfer OEM warranties.
