Homeowners add solar panels to save on utility bills or to lower their carbon footprint. But what happens when those homes are sold?
Source: National Association of Realtors Research Group's 2022 Realtors and Sustainability Report—Residential
Increasingly, providers are offering net billing instead of net metering, says Eric O’Shaughnessy, a renewable-energy consultant affiliated with the Berkeley Lab. The plans are similar, but net billing provides a lower credit for solar delivered back to the grid. A homeowner sometimes has the option of buying a solar system they’ve been leasing, but the leasing company might not agree to sell the system before the installation is five years old, says the Berkeley Lab’s Ben Hoen, co-author of the working paper. That’s because if it does, the leasing company will have to repay to the Treasury Department a portion of the tax credit it claimed for the installation.
Knowing the specific terms around the transfer of ownership of a system is important. Ms. Anderson says she represented a seller in 2021 who disclosed that the solar system was leased, with a contract that allowed the original owner to buy out the lease at a set price. But the solar company had a policy that the system would have to be reappraised if the home was sold.
Norge Siste Nytt, Norge Overskrifter
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