While there is anecdotal evidence to support the claim that solar leased panels will add value to a home, most real estate appraisers in Phoenix will look at the attached solar panels as personal property and not as a fixture to the Phoenix home. However to say that solar leased panels do not add value to a solar home in Phoenix would also be a mistake.
During the first half of 2014, Phoenix real estate statistics, according to the Arizona Regional Multiple Listing Service (ARMLS), homes for sale that featured a solar lease sold quicker than the average resale home. Solar leased homes sold 25 percent quicker and even outpaced resale homes that had a solar owned system.
Additionally, there is a monetary benefit that brings value to the sale of the home. Even though a solar lease has an associated monthly lease payment (assuming that it is not a prepaid lease), most solar homes with leases still provide for a substantial savings (otherwise why did the home owner sign up for a solar lease in the first place?). I can tell you from personal experience that the monthly savings of the lower electric bill becomes a distinct advantage that other home sellers in the neighborhood cannot compete with. If a home buyer is trying to decide between Home A with a solar lease and Home B down the street and all other factors being equal, most home buyers will choose to have the lower electric bill and overall monthly savings than to have to pay more for electricity for the same house.
Speaking of prepaid solar leases in Phoenix, prepaid solar leases offer the best of best for interested home buyers. A prepaid solar lease offers the ease and simplicity of a hassle free and maintenance free solar system without a monthly payment. With the proper marketing (see my articles on how to market a solar home for sale), buyers will jump at the opportunity to have a solar home without the payment. Furthermore, I have sold homes over the past few years where a prepaid solar lease on a home actually increased the property value even though the solar equipment was not a fixture on the property.
The key to value of a home with a solar lease lies in how the solar system is presented to potential home buyers. While Phoenix home appraisers generally will not assign additional property value to a solar lease, the perceived benefit of having solar will be seen as a value to potential home buyers, especially when they are considering the same home down the street that does not benefit from having solar on the roof.
Do you have questions about selling your solar home in Phoenix? Call the Solar Home Broker at 480-888-1234 to set up a free, no-obligation appointment to discuss selling your solar home in Phoenix.