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Essential Things to Know About Solar Panels in Real Estate

Last edited: 18/02/21

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Essential Things to Know About Solar Panels in Real Estate

Last edited: 18/02/21

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What is one form of energy that has predominated the market in recent times? A kind of energy that has been stressed upon for decades on end and is finally generating the appraisal that it so likely deserved? Ding, solar power.

When we talk about energy in a renewable context, we often refer to solar energy (although there are arguably other forms of renewable sources). What makes solar power a better option for most people instead of a different type is the fact that we cannot put a stop to the sun.

This is not a challenge. The sun is something that would, without hindrance, by transmitting light energy to the world. However, of prime importance here is to discuss precisely how one can harness this energy.

The radiant energy from the sun is composed of wavelengths and photons. A photon is a single unit of energy that can ‘power’ a system.

Commercial Solar Panels in the UK

The topic of interest in recent times has shifted from business-owned solar panels to property-owned. Understanding the fact that solar panels are not without their uses – in particular, are predominantly known for them, many homeowners took it upon themselves to install solar panels.

However, there is a difference between a solar panel that you own and that you have leased. To understand the concept, we’ll analogically compare solar panels to cars:

When you want to get a car for your use, you’re met with two options: you can either buy the vehicle or lease one out. Buying is a simple thing – you go in and transfer the car into your possession.

Leasing is a grey area concept. The terms are set by the leasing company with understandably varying means and costs. For some people, buying would seem like a more comfortable option.

However, there are still some people who would much rather spend a small amount for something that they only require in their possession for a temporary period.

Solar Panels for Properties

When you’re buying solar panels in the UK, you need to make sure that you have adequately assessed several factors: need, costs, and wants. There are several individuals who, although want to have a source of additional power, are not convinced of solely having one form.

That is, are you predominantly using solar energy, rarely or solely? Also, what would happen when you sell your property? Are the panels transferred? Are they leased?

Selling Property With Solar Panels

If you’ve leased a solar panel and are looking to sell your property, then you don’t necessarily have to rip off the boards and install them into your new house.

Instead, you could list the property as one with solar panels and have the new owners transfer their name onto the lease. Of prime importance for new owners here is to check whether or not there has been a loan taken out against the contract. In which case, the loan may or may not cause the company to take away the solar panels.