Purchasing A Solar Powered Home

Over the past few years, Australia has seen several natural disasters such as storms, wildfires, and so on. All of these disasters are the effects of climate change and global warming in the environment. Along with these, the rising cost of energy all over the country has made people worried about both their financial conditions and environmental situation. To save money and contribute to reducing the negative impact of climate change, a lot of Australians are switching to solar powered home. 

If we take a look at the Australian solar market, we will see millions of households that have switched to solar and thousands more who are willing to switch. We all know that the process of choosing the right solar power system and installing it is quite a time-consuming process. In order to avoid this hassle, many people search to buy properties that come with installed solar panels. 

In Australia, many people sell houses that are already equipped with solar panels and these houses are typically sold faster and at a higher price compared to houses without solar panels. Purchasing a solar powered house comes with quite a few benefits such as you can save both time and hassle of researching the solar market in order to find and install the right solar power system. It also allows you to take advantage of the solar power system from the very first day of moving into your new home. 

However, there are quite a few tips that will help you when it comes to buying a home that has solar panels installed. These are:

  • Ask about the Solar Power System Financing

In the Australian solar market, solar power system financing is available in three types: total installation payment, solar loan, and solar lease. The majority of homeowners install solar panels by paying for the entire system during installation and own the solar power system. This allows them to install the cost of the solar power system at the asking price of the property. 

When it comes to solar loans, the homeowner also includes the cost of the system into the asking price. If the loan is completely paid off before listing the house for sale, then the homeowner owns the solar power system. However, if the loan is not completely paid off, then the homeowner will have to clear the entire loan payment before moving out of the house. 

If the solar power system was purchased with a solar loan, make sure to read all the paperwork related to the loan and ensure that the homeowner has completely paid off the solar loan before you move into your new home. 

Lastly, if the homeowner takes a solar lease to install the solar power system, then they are not the owner of the system and cannot include the cost of it in the asking price. If the new homeowner wants to use solar power on lease, then the contract will be transferred from the old homeowner to the new one. 

Before you consider purchasing a house with solar power, make sure to ask about the financing option of the system. If the solar power system is owned by the homeowner, then properly check the agreement and the required documentation. If the solar power system is leased, then make sure whether you want to continue the lease or not. If you are not interested in the lease, then the responsibility of it will be on the homeowner who originally leased the system. 

In case you take responsibility for the solar lease, you will have to pay a third party in order to use solar energy produced by the solar power system. Before transferring the solar lease from the previous homeowner to your name, make sure that you properly read all the terms and conditions related to it as the policy of the lease varies depending on several factors. 

  • Check the Cost of Electricity Bills

When considering purchasing a home with an installed solar power system, ask the homeowners for their energy bill records. This will give you a clear idea of how much money you can save on the cost of electricity bill in a month and the energy consumption of the house. This will also provide you with a clear idea about the performance of the solar power system and also whether the system is connected to the grid and provides net metering advantages or not. Make sure that you ask the homeowners about whether they want to transfer the solar power incentives to the new homeowner or keep it to themselves. If they do not transfer the solar incentive, you can still take advantage of the low electricity bill and other solar power benefits. 

  • Contact the Solar Installer

The solar installer who designed and completed the entire solar power system is in charge of the maintenance and the warranty of the system. Make sure that you have a clear conversation with the solar installer about the system, the size, condition of the roof, warranties and so on. They will also be able to provide you with a detailed estimation of how much money you can save every month depending on your energy consumption. The warranty of solar installers that covers the maintenance, labour and other costs varies depending on one installer to the other, so make sure that you properly check these details. 

Final Words

If you do not have the time to go through the hassle of choosing and installing a solar power system, purchasing a home with solar panels is a great idea. The tips mentioned above are essential to consider when it comes to purchasing a solar powered home as this will give you a proper idea about the property. Make sure that you check all the necessary documents and have a clear conversation with the homeowner and the solar installer before making a final decision.

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