Can going green by leasing solar panels for your roof cost you money — or give you headaches — when you go to sell the house?
Say you get pitched by one of the growing number of companies offering solar panels at no upfront cost that they claim will save you lots of money on electricity bills. Sounds like a slam-dunk. So you sign on.
Then a few years later you decide to sell the house. You assume that the presence of solar panels can only be a marketing plus, maybe even get you a higher price. Everybody goes for green, right?
But that’s when it gets weird. Some would-be buyers balk when they learn that they’ll need to qualify on credit to take over your solar lease payments for the next 15 to 17 years. Others say they like the house but won’t sign a contract unless you buy out the remaining lease payment stream — $15,000 or $20,000 or more — because they’re worried that the solar equipment will become obsolete or won’t save as much on electricity bills as advertised.
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