Are Solar Panels Real Property or Personal Property?
- For property tax purposes, solar array panels are assessed as part of the real estate if they are intended to remain on the site for their entire useful lives
- However, if they are portable at the site, they could be separately assessed as personal property The decision truly depends on the assessor and governing state laws
Direct v. Consequential damages?
- Read your warranty to understand the difference between Direct V. Consequential damages. A solar installation that causes roof issues is a direct damage, whereas a damage that results in a leak, which in turn affects your personal property, is a consequential damage
- Will Solar Panels Be Covered By My Home Insurance?—Allstate? (n.d.). Retrieved from https://www.allstate.com/tools-and-resources/home-insurance/solar-panels.aspx
- Solar panels add about 2 ½ pounds per square feet of roof. Perhaps, talk to a solar installer about water leaks and layering techniques that are incorporated
- Structural issues are hard to verify, however, it’s paramount that installers are knowledge about mounting techniques based on the roof type
What happens when you move?
- Home owner can decide to
- In addition, to be able to transfer the lease in the case of lease or PPA agreement, the home owner could leave the system in tact and appraise the value of the home for a sale or rent
- The value of home increases by the amount of savings obtained by the installation of the solar system
See how much installing solar will save you?