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Value of whole home solar PV system

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glenn walker said:
Not if its a 8% amortized-10 year loan in California !!!
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Terrill- In my area solar loans can be as much as $300 to $500 a month, and since the financiers know the dunderhead may default they record the lien and pay the County Tax Collector to include include the bill into the owners property tax bills. So the guy says he owns it but in reality he owns nothing. In some cases after interest and payments, the lower bill is no better than a wash. Take away the tax credits, 100% financing and X-Sub-Prime mortgage guys who jumped from loans to solar sales and it can be a very sad situation for may owners. The State of California has made solar mandatory on any new home starting in 2020. Why because we are going to save the planet and it doesn't hurt that Senator--zzz may just want to help out her poor Uncle Billy, after all it takes a lot of new renewable business to get his new solar company up and running. Whats kinda weird is right before we made it a State Law to install Carbon Monoxide Detectors, this same guy just happened to own or control a company in China that makes thses little buggers for $3 bucks and sells them for $15.00 to $20.00 bucks.
 
Affordable Solar Program Launched in Ohio for Middle-Class Homeowners

Ohio is one of the best places if you want to go solar – but only if you’re rich enough. Due to the steep upfront costs of around $32,000 in cash, only those upper-income families can afford to install solar arrays. Power Home is, however, looking to change that. This new project hopes to help middle class communities see the sun in a different light.

 
In my market in California sellers of OWNED solar PV systems have started to take them with them to have installed on their new home purchase for what is considered a minimal amount by the solar provider..... becoming more and more popular...
 
Again, it doesn't make a hoot. If you owe money on your mortgage are you saying you need to adjust the market value? So you owe on the pool...guess what? At closing the pool gets a check out of the proceeds. Ditto panels. The loan amount - 1st 2nd or unsecured mortgage is not a calculation you deal with in a fee simple appraisal.
If rented, its not even real estate but a trade fixture of the owner of the panel (the seller of same).
TJSum said:
how about when the balance of the loan transfers to the new owner?
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glenn walker said:
Not if its a 8% amortized-
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Graeme Darlington said:
In my market in California sellers of OWNED solar PV systems have started to take them with them to have installed on their new home purchase for what is considered a minimal amount by the solar provider..... becoming more and more popular...
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So let me see -I have the panels removed-, risk damaging the roof, yank the-inverter , have SCE or PG&E come out and reconnect to a regular service panel and meter ? Well my friend as both an-appraiser and broke-I so far we have not seen this done and frankly I think you are full of B.S : ) LMAO
 
Terrel L. Shields said:
Again, it doesn't make a hoot. If you owe money on your mortgage are you saying you need to adjust the market value? So you owe on the pool...guess what? At closing the pool gets a check out of the proceeds. Ditto panels. The loan amount - 1st 2nd or unsecured mortgage is not a calculation you deal with in a fee simple appraisal.
If rented, its not even real estate but a trade fixture of the owner of the panel (the seller of same).
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You are missing the part about the loan transferring to the new owner. Those other examples you mentioned, the loan does not transfer over to the new owner (unless the mortgage is assumable, and if it is, don't you think it would matter what the balance is)?
 
TJSum said:
You are missing the part about the loan transferring to the new owner. Those other examples you mentioned, the loan does not transfer over to the new owner (unless the mortgage is assumable, and if it is, don't you think it would matter what the balance is)?
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The reason I am making this post is because I am getting a little confused about what is being argued.

So the PV system is either a Fixture or its not a fixture(personal Property) Apparently this is a Grey area.

I don't know of any Lender on a Purchase Loan(1st mtg) that would allow a previous 2nd assumable loan(another lender) be carried forward at closing. The reason would be the new 1st mtg loan would subordinate to the previous 2nd mtg that was assumable. This is also assuming that the PV System was financed as a Mortgage loan(long or short term) or financed suing a different type of financing.

Lets go on further. Lets say the PV System was financed with a consumer loan, i.e direct from the supplier. I think this type of financing(in North Carolina) is covered under the UCC. UCC is for short term financing of a System. This could be for example an HVAC or PV's

It doesn't matter what type of financing was used on the initial. purchase/installation of the PV. For that matter even if the PV System was leased...This would be used in qualifying the Person seeking a new 1st mtg for a purchase.

So we seem to be mixing apples and oranges here.

Again maybe I am just confused at the moment because the arguments are being mixed together. Fixture / non-fixture.
 
djd09 said:
Affordable Solar Program Launched in Ohio for Middle-Class Homeowners

Ohio is one of the best places if you want to go solar – but only if you’re rich enough. Due to the steep upfront costs of around $32,000 in cash, only those upper-income families can afford to install solar arrays. Power Home is, however, looking to change that. This new project hopes to help middle class communities see the sun in a different light.

Click to expand...

A recent news story claims: "Utility scale solar panels plus storage ... a cost of 1.997 cents per kilowatt hour (kWh) for the solar power and 1.3 cents per kWh for the battery. That's cheaper than any power generated with fossil fuel."

Extrapolating forward, as more of the energy supplied by utility scale solar comes on line, people who bought rooftop solar panels will be net losers since they will never achieve economy of scale.

Science | AAAS

www.sciencemag.org www.sciencemag.org
 
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