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I am interested in what is going to happen to the housing market. These systems typically have a 20 year contract. If the house is sold before that, then the
by rogerbinns 11y ago
I am interested in what is going to happen to the housing market. These systems typically have a 20 year contract. If the house is sold before that, then the purchaser has to assume the contract and the solar system. Those contracts could be extremely undesirable if the energy rates change a lot, better panels come out, financing/subsidies differs, it is better to use solar for hot water instead of electricity, battery storage turns out better, or a whole host of other scenarios.
If you were looking to buy a house, and it was 7 years into a 20 year solar contract (hence locking in the rates/financing of 7 years ago), wouldn't you want it either removed so you can put in something better, or be compensated for taking on such obligations?
I can't find out how often houses are sold in California, but it seems like ~7 years is normal.
- rbosinger 11y agoYeah I have a small investment in SolarCity and I keep meaning to find out how they handle this situation. Imagine in 5 years some stories coming out regarding home owners having trouble selling (or losing value on) homes they equipped under a solar loan. That would likely affect future sign-ups.