roof solar in MA, leases

[turtlevette]

There's a big todo on the news about these lease deals on solar panels. The contract you sign says the solar company has to approve a new owner of your house. This is making refi, reverse mortgage and sales problematic.

Don't do it. I'm gonna get used ones cheap. Or wait until the roll out ones are developed. I envision solar cells with adhesive backing you could just roll out like ice and water shield.

 

[Rand]

Originally Posted By: turtlevette
There's a big todo on the news about these lease deals on solar panels. The contract you sign says the solar company has to approve a new owner of your house. This is making refi, reverse mortgage and sales problematic.

Don't do it. I'm gonna get used ones cheap. Or wait until the roll out ones are developed. I envision solar cells with adhesive backing you could just roll out like ice and water shield.



I'm waiting for solar shingles.

 

[turtlevette]

Originally Posted By: Rand
Originally Posted By: turtlevette
There's a big todo on the news about these lease deals on solar panels. The contract you sign says the solar company has to approve a new owner of your house. This is making refi, reverse mortgage and sales problematic.

Don't do it. I'm gonna get used ones cheap. Or wait until the roll out ones are developed. I envision solar cells with adhesive backing you could just roll out like ice and water shield.



I'm waiting for solar shingles.


That too. I cant believe we're still stuck with these boxy clunky things.

 

[supton]

Interesting. I have a friend who was looking into it, and I didn't think of this issue. I very much could see a problem with moving before paying off, and the next owner mandating removal or otherwise a large cost reduction due to the existance of the array.

Signing on and letting the array company have that kind of say...

As always, read the fine print. This might just be select companies too. But IMO, I wouldn't spring for these unless if you either pay cash or plan to be in the spot until its paid off.

 

[HerrStig]

Something of that sort has to be recorded in the land records to be enforceable and executed before a notary.

 

[Donald]

What about the age of an asphalt shingle roof? If its over 10 years then you might want to get new shingles before putting down the solar panels, least you might need to pull them up to replace the shingles.

I assume they have screws going through the shingles to plywood or the rafters. Do any of these leak? They will need to be attached tightly due to wind ripping them off the roof.

 

[A_Harman]

Originally Posted By: turtlevette
There's a big todo on the news about these lease deals on solar panels. The contract you sign says the solar company has to approve a new owner of your house. This is making refi, reverse mortgage and sales problematic.



Great, like we need another complication to process of selling real estate.

 

[3for3]

I looked into leasing solar panels when I bought my house here in the inland/ desert area of So Cal. But, like you mentioned, if I sold the house I would have to get the buyers to agree to take over the lease, and the lease company would have to approve the new owners, too.

In addition to that undesirable situation, if I need to re-roof my house (my roof is the original spanish tile from 1997) I would have to pay to have the solar panels removed and re-installed. The sales guy said that could be over $1,000. And it is possible that I might have to re-roof within the twenty year solar panel lease time frame. No thanks.

 

[OneEyeJack]

Just don't do business with a company that offers a lease on solar panels. It's a rip off. Normally in such a relationship they could at least offer candy, flowers and pay for the motel.

 

[PandaBear]

I'm sure they have a lien on the house to enforce this. If the seller wants to sell the house it is likely going to be a seller paid buyout during the transaction. Lease may be a good idea to hedge for price protection, but any time there's an ownership change the cost would be paid. This would be similar to transferring vehicle ownership before the lease is over.