The question is “are solar panels worth it?”. Solar panels have gained a lot of popularity lately. We used to never see them, but they’re showing up more and more.

While I think that solar, green energy is a fabulous idea, there’s one thing I would caution you to think about as a homeowner. Make sure that you’re definitely planning on being in your home for some time to come! This is important so that you are able to take advantage of the cost savings that you will get from solar panels.

I’m actually in a situation where I have a home seller that recently purchased a home and decided to install solar panels. However, she’s now having to move due to a job change.

While she has definitely gained some equity in her house since she purchased it, she now has this outstanding balance for the solar panels that has to be paid off before she can transfer ownership to a new owner.

This is one example of how solar panels could cause a problem for you. Even though the solar panel company may say that they’re not putting a lien on your house, the balance of the solar panels has to be paid of (if you did a loan) before you can close it.

That said, I would caution you to think long and hard about how long you’re planning on staying in the home. This will help you to see if solar panels are going to give you the real cost savings that you’re looking for long term.   

 -Jessica Herrmann, Broker/Owner of Great GA Realty