Installing solar panels on your roof can reduce your dependence on the grid, lower your electricity bills, and increase the value of your home. If you’re looking to buy a house in India that already has solar panels, this guide will help you understand the key considerations before making an offer. We’ll cover everything from inspecting the solar panel system and financing options to estimating long-term savings and maintenance responsibilities. Read on for advice that will position you to make the most informed decision.
Inspecting the Existing Solar Panel System
When viewing homes with solar panels, request to see the last 12 months of electricity bills to gauge real-world energy production. Examine the solar panels to check for any visible damage, dirt buildup, or tree or roof shading that could hinder productivity. Ask when the system was installed and the warranty coverage – a more recent system under a 20-25 year warranty has longer to provide return on investment.
Find out the system size in kilowatts (kW) – a 2 kW system can offset 50-75% of a typical household’s electricity usage. Also note which direction the panels face; south-facing panels typically generate the most energy in India. Understand how many solar panels there are and the model names so you can look up specifications like rated efficiency. High-efficiency solar panels have higher output for the same roof space.
It’s also essential to learn which components are included in the solar power system. At minimum, there should be solar panels plus a safety-critical inverter that converts the panels’ DC electricity into usable AC power. Also, find out if batteries are installed, as they enable solar power usage at night. The various brackets, cables, and disconnects may have associated maintenance and replacement costs as well.
Transferring Ownership & Financing Options
When buying a house with solar panels, consult your state’s regulations about ownership transfer. Most states mandate that the solar system must be paid off in full or its lease transferred to the new homeowner when a property is sold. If there is still a loan or lease on the solar system, you can choose to take responsibility for the remaining payments or negotiate with the sellers to satisfy it before closing.
If the current solar panel loan or lease cannot be settled immediately, compare the existing terms and interest rates to current market offerings. You may be able to refinance the balance on better terms. Also check government incentive programs – some states offer rebates when transferring renewable energy systems to new homeowners.
Estimating Bill Savings
The electricity bill savings that solar panels provide depend on factors like your household energy usage, the size and age of the solar panel system, and local weather patterns. As a general estimate, a 2 kW system in India can reduce monthly electricity bills by 50-75%. New solar panel buyers can expect 4-7 years for return on investment and over 20 years of lowered electricity costs.
To gauge potential savings more precisely, examine the home’s last 12 months of utility bills and audit its solar energy production figures for the same timeframe. This will reveal real-world data on the solar system’s impact to help guide your decision.
Also account for future electricity price inflation; historically, utility rates in India have 5-10% annually. Solar panels can provide a hedge against ever-increasing electricity costs.
Home Value Appreciation
Multiple studies have verified that installing solar panels can increase a home’s value. Buyers are willing to pay a premium for the long-term bill savings and reduced carbon footprint that solar power provides. For a typical 2-3 kW solar system, value researchers estimate an added resale value of around INR 1.25 lakhs for Indian homes.
With solar energy adoption expanding annually in India, properties with existing solar systems should see sustained buyer demand that supports increased valuations. This makes buying a home with panels a sound investment, especially if your state offers additional tax credits and ownership incentives.
Maintenance Requirements
Solar panels require little annual maintenance, mostly just spraying off any accumulated dirt during dry seasons or after storms to prevent production loss from debris or leaves blocking sunlight. Many solar installers include a free maintenance package for the first 5 years.
Beyond occasional debris cleanup, solar panels themselves have no moving parts and last 25-30 years. The inverter that turns solar energy into usable electricity does require replacement every 10 years on average at a cost of roughly INR 50,000; factor that future expense into long-term planning. Also budget for periodic electrician costs if any wiring or equipment issues emerge.
Compared to a complex HVAC system, though, solar panels have minimal maintenance requirements overall. Your annual expenditures include basic cleaning, a new inverter every decade, and any electrician fees for minor repairs.
Waaree: Your Solar Energy Partner
As India's leading solar module manufacturer, Waaree engineers cutting-edge solar panels tailored for high efficiency, reliability, and long-term power generation. With over three decades of experience and installed solar modules worldwide, Waaree delivers solutions sized precisely for every home's needs.
Waaree's solar panels come with product and performance warranties for complete buyer assurance.
Conclusion
Buying a house with solar panels already installed can provide over two decades of free solar electricity and excellent home resale value. When evaluating homes with existing solar power systems, thoroughly inspect the panels and components, vet the finances to potentially refinance or reassign outstanding loans, examine 12 months of past utility bills to estimate real-world savings, and review minimal annual maintenance requirements.
If you have any other questions throughout your solar purchasing journey, the solar energy specialists at Waaree are always available to help home buyers make the most informed decision.
