[ZPaul]

I installed a solar system in my Pennsylvania house and the system worked out quite well-generating a healthy profit and requiring zero maintenance. Florida incentives much lower. It is just a question of economics.

If a properly done installation, panels should withstand hurricanes. A little worried in that Villages Roofs tend to be truss roofs. I had a 2x12 beam roof which was very strong.

Estimate value the loss of lease payments net of electricity saved and make sure the property purchase price reflects it. Bear in mind that electric rates all over the country are likely to climb over next few years due to AI buildout while solar energy is at a fixed price. Not too much different than moving to the village and looking at houses with bond outstanding vs bond paid off.

[Happyretiredgal]

The seller needs to pay off the solar lease and provide proof that the lien on the home is satisfied. I would never recommend taking on the lease for the solar purchase. Those systems are way overpriced and oversold. They add nothing to the appraised value of the home. Speaking as a former Realtor in another state so I don't claim to know Florida law on this topic.

[BlueStarAirlines]

Just to echo others...run from this house. There are other options and there is no good reasons to assume the financial liabilities of the current owners poor choice.

[donfey]

Originally Posted by kbrkr

Assumptions:

1. The system is leased.
2. Net Profit/Loss I estimate to be a loss; meaning I pay more for system than what I save on electric based on average cost per kwh.
3. Cost of all payments over 25 years is $56k
4. No Batteries; so won't have power fail backup
5. Lease is assumable to new homeowner.
6. We love the home they are attached to.
7. Seller has reduced asking price by $20k

Asking the Hive mind if we should just go ahead and purchase the home; which we really love.

Thank you!

ASSUMPTIONS will cost you the MOST money of all. Do your homework. Good luck.

[defrey12]

Originally Posted by kbrkr

Assumptions:

1. The system is leased.
2. Net Profit/Loss I estimate to be a loss; meaning I pay more for system than what I save on electric based on average cost per kwh.
3. Cost of all payments over 25 years is $56k
4. No Batteries; so won't have power fail backup
5. Lease is assumable to new homeowner.
6. We love the home they are attached to.
7. Seller has reduced asking price by $20k

Asking the Hive mind if we should just go ahead and purchase the home; which we really love.

Thank you!

STAY FAR AWAY FROM THAT HOME! PERIOD! It'll cause you more pain and heartburn than any person should have to endure. You WILL NEVER recover the cost via supposed energy savings. The math will NEVER add up.

[retiredguy123]

Originally Posted by Happyretiredgal

The seller needs to pay off the solar lease and provide proof that the lien on the home is satisfied. I would never recommend taking on the lease for the solar purchase. Those systems are way overpriced and oversold. They add nothing to the appraised value of the home. Speaking as a former Realtor in another state so I don't claim to know Florida law on this topic.

I totally agree, but even the Federal Government publishes information that a solar system will increase the value of your house. So, even they are complicit in the scam.

[Chamo]

Run…… run away

[JRcorvette]

Originally Posted by kbrkr

Assumptions:

1. The system is leased.
2. Net Profit/Loss I estimate to be a loss; meaning I pay more for system than what I save on electric based on average cost per kwh.
3. Cost of all payments over 25 years is $56k
4. No Batteries; so won't have power fail backup
5. Lease is assumable to new homeowner.
6. We love the home they are attached to.
7. Seller has reduced asking price by $20k

Asking the Hive mind if we should just go ahead and purchase the home; which we really love.

Thank you!

VERY BAD IDEA…. You will regret it just like so many other’s who took the bait. You are no longer paying your utility company, you are relying on the solar company to pay your bills. Just don’t do it….

[BrianL99]

Originally Posted by ZPaul

If a properly done installation, panels should withstand hurricanes. A little worried in that Villages Roofs tend to be truss roofs. I had a 2x12 beam roof which was very strong.
.

"Beams" typically support floors, not specifically roofs. A 2"x12" may be a roof rafter, but not usually not a beam (unless it was a tiny house).

Trusses are generally, pound for pound, inch for inch, stronger than dimensional lumber.

Solar system are usually fairly light-weight and most any roof structure that meets recent building codes, can bear the weight of a solar system.

[retiredguy123]

Originally Posted by BrianL99

"Beams" typically support floors, not specifically roofs. A 2"x12" may be a roof rafter, but not usually not a beam (unless it was a tiny house).

Trusses are generally, pound for pound, inch for inch, stronger than dimensional lumber.

Solar system are usually fairly light-weight and most any roof structure that meets recent building codes, can bear the weight of a solar system.

What do you do when you have a roof leak and the solar company can't or won't fix it, and the roofer won't work on a roof with solar panels? In my opinion, installing solar panels on a perfectly good asphalt shingle roof is always a bad idea.

[John-US]

Save your $$ for the grandchildren!

[MrFlorida]

Move on, I wouldn't touch it with that on the roof.

[Ginnyshe]

Originally Posted by kbrkr

Assumptions:

1. The system is leased.
2. Net Profit/Loss I estimate to be a loss; meaning I pay more for system than what I save on electric based on average cost per kwh.
3. Cost of all payments over 25 years is $56k
4. No Batteries; so won't have power fail backup
5. Lease is assumable to new homeowner.
6. We love the home they are attached to.
7. Seller has reduced asking price by $20k

Asking the Hive mind if we should just go ahead and purchase the home; which we really love.

Thank you!

If these are just assumptions, you need all the facts. There are different types of solar systems. It needs to be a Type 2 system to supply all your electric. That requires a million dollar liability. Even then, no guarantee if there are too many rainy cloudy days. The seller probably benefitted from the tax credit, so should pay off the lease!

[kbrkr]

Originally Posted by villagetinker

Also, check to see if there is a lien on the house for the solar system, if so, RUN away, as you may not be able to break the contract. IMHO, I would not consider any house with solar, unless this was completely paid for, and then as noted previously you are assuming the additional costs when the roof is replaced. One final item, check with your proposed insurance company about the implications of the solar panels, additional costs for coverage, etc.

Thats great advice regarding the insurance company. I haven't done that yet.

[kttomas]

Originally Posted by kbrkr

Assumptions:

1. The system is leased.
2. Net Profit/Loss I estimate to be a loss; meaning I pay more for system than what I save on electric based on average cost per kwh.
3. Cost of all payments over 25 years is $56k
4. No Batteries; so won't have power fail backup
5. Lease is assumable to new homeowner.
6. We love the home they are attached to.
7. Seller has reduced asking price by $20k

Asking the Hive mind if we should just go ahead and purchase the home; which we really love.

Thank you!

Well, if you really love the house tell the seller will buy the house butt not take over the lease. The seller will then have to make a choice to pay off the system or not sell the house to you.