Friday Facts – Sunburned: When Solar Panels Become a Headache

FRIDAY FACTS

April 3, 2015

 

SUNBURNED:

WHEN SOLAR PANELS BECOME A HEADACHE:

From an article in Banker & Tradesman by Ken Harney

  • Nationwide, residential solar installations are booming – up 50%/year since 2012 and the fastest grow rates are in Maryland, Massachusetts and New York.

 

  • Be aware of the potential long-term complications that can occur when you lease, rather than buy, solar panels.

 

  • Some would be buyers balk when they learn they’ll need to qualify on credit to take over a seller’s solar lease payments and some insist the seller buys out the remaining lease payment stream.

 

  • Buyers looking at remaining leases for as long as 20 years worry that the equipment will become obsolete or electric savings won’t be as promised.

 

  • Many banks won’t lend on a property with leased panels.
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