Tenga en cuenta que todos los documentos del préstamo y todo el proceso del préstamo se realizarán en inglés. Los servicios de traducción pueden estar disponibles por solicitud.
Please note that all loan documents and the entire loan process will be conducted in English. Translation services may be available upon request.
Going solar is great. It saves people money, it’s good for the environment, and it’s the perfect conversation starter for neighborhood block parties.
So, why wouldn’t someone go solar?
For some homeowners, the biggest hang-up is uncertainty around a simple question: What happens if I sell my home?
It’s a good question.
One of the lesser-known benefits of going solar is that it can increase a home’s value. Solar homes, after all, have dramatically lower utility bills than comparable houses. That’s worth a lot. So, if someone decides to move, they can simply add the value of the system into the asking price of their home.
There’s lots of evidence to support that solar increases property value.
From 2018-2019, homes with solar energy systems sold for 4.1% more on average than comparable homes without solar power. For the median-valued home, that translates to an additional $9,274.
The sale premium varies substantially by market. In Riverside, CA, for example, homes with solar energy systems sold for 2.7% more than comparable homes without solar power—a markup of $9,926 for the median-valued home in the metro. In Greater New York City, solar-powered homes have a premium that is double that of Riverside. At 5.4%, that’s an extra $23,989 in value for the typical home in New York. (Source: https://www.zillow.com/research/solar-panels-house-sell-more-23798/)
Most homeowners know that solar panels reduce energy costs and carbon emissions. Those long-term savings help boost your home’s property value. According to the National Renewable Energy Laboratory (NREL), your home value increases by $20 for every $1 you save on energy bills. For example, if your solar energy system saves you $700 per year, the value of your home increases by $14,000.
Real estate agents and home appraisers have found that this also increases your market value when selling your home. A 2021 Zillow housing trends report found that 67% of homebuyers considered energy efficiency to be a “very to extremely important” inclusion for a potential home. Homebuyers are willing to pay $15,000 or more for a solar-powered home, according to a large-scale solar home study conducted by the U.S. Department of Energy’s Lawrence Berkeley National Laboratory (Berkeley Lab). (Source: https://www.architecturaldigest.com/reviews/solar/do-solar-panels-increase-home-value)
It’s important to understand that these studies mainly look at cases where the homeowner is also the owner of the solar panel system. In other words, a financed solar system, or one paid for with cash, almost certainly adds value to a home. It’s unclear if a third-party owned system (lease or power purchase agreement) will do the same.
At Sungage, we’re committed to making solar ownership a positive experience every step of the way. We understand that circumstances can change, and we’re here to give you the support you need. If you’re selling your home, there are several options for handling your Sungage Loan.
The first step is to identify who funded your loan. Depending on when you secured your financing, it could be either Hatch Bank (most loans from April 2025 onward) or NBT Bank (most loans prior to April 2025). If you are not sure, you can log into the Sungage Homeowner Portal and check your loan documents. For more information on Hatch Bank and NBT Bank, please read our blog: Sungage's Bank Partnerships.
If your loan is financed with Hatch Bank it will be serviced through our Servicing Team, Launch Servicing. These are the following options available to you.
Option 1: Pay off your Sungage Loan with the proceeds of your home sale
This is the best alternative for most homeowners. You can simply use the proceeds from your home sale to pay off your solar loan and transfer ownership of the solar system to the buyer. You should start by obtaining a payoff quote by calling 877-742-2701 or logging into Sungage's Payment Portal. Allow at least 30 days for the process.
Option 2: The buyer rolls your Sungage Loan into their mortgage or seeks new financing
Your buyer may choose to include the cost of the solar system in their new mortgage or obtain financing through their local financial institution. Again, you should start by obtaining a payoff quote by calling 877-742-2701 or logging into Sungage's Payment Portal. Allow at least 30 days for the process.
Option 3: The buyer applies for an Assumption & Modification of your Sungage Loan
In some cases, your buyer may qualify to assume and modify your existing Sungage Loan. If you decide to transfer solar equipment ownership to your buyer, email loantransfer@sungagefinancial.com to get the process started and allow 30 days for processing.
To qualify, the buyer must:
As the seller, you’ll be responsible for a $500 non-refundable processing fee as outlined in your Home Solar Equipment Loan and Security Agreement. This fee can be paid by calling 877-742-2701 or logging into Sungage's Payment Portal.
If your loan is financed with NBT Bank it will also be serviced through NBT Bank. These are the following options available to you.
Option 1: Pay off your Sungage Loan with the proceeds of your home sale
This is the best alternative for most homeowners. You can simply use the proceeds from your home sale to pay off your solar loan and transfer ownership of the solar system to the buyer. You should start by obtaining a payoff quote and allow at least 30 days for the process.
If you decide to go with the pay off option above, email solarloanservice@nbtbank.com to authorize the action you’ve chosen. The bank will send you a quote via email with terms regarding the release of the equipment lien after the payoff. You’ll also use this email to inform them of your decision.
Option 2: The buyer rolls your Sungage Loan into their mortgage or seeks new financing
Your buyer may choose to include the cost of the solar system in their new mortgage or obtain financing through another financial institution.
To request a payoff quote, please email solarloanservice@nbtbank.com. If a title company or lender is contacting NBT on your behalf, they must include your written authorization with the request.
Option 3: The buyer applies for an Assumption & Modification of your Sungage Loan
Your buyer can apply for a transfer of the solar equipment ownership. This may be subject to a processing fee and a new interest rate, which will be reflective of current market rates.* A new credit application is required and will generate a hard credit pull on the applicants’ credit report.
If you decide upon transferring the solar equipment ownership to your buyer, email loantransfer@sungagefinancial.com to get the process started and allow 30 days for processing.
This overview is intended to provide general information about your options. Additional requirements may apply based on your specific loan terms.
For more information on transferability of a solar loan, please feel free to call us anytime at 844-SUNGAGE (786-4243) or use our live chat.
