The solar protection plan is one of the best decisions for homeowners to manage the cost of unexpected solar repairs. The best of the benefits will be availed by the extended solar warranties. This will help in maintaining adequate solar panels that will generally last long for 25 years.
What Is the Solar Warranty policy?
A solar panel warranty policy is an assurance or certification from a solar manufacturer that protects the customers by maintaining the panel reliability and production output.
Kinds of Solar Panel Warranty
There are mainly two kinds of solar warranties:
• Workmanship warranty.
• Performance warranty.
A product or workmanship warranty covers any physical defects due to manufacturing errors and equipment failure, including frame or glass imperfections, faulty connectors, disconnected junction boxes, damaged cell connections, defective back sheets, and many more.
Meanwhile, a performance warranty ensures a minimum base of electricity production. A specified percentage of power is maintained during the warranty period. It promises that your panels will produce electricity near their rated output in their lifespan.
How Long Do Solar Warranties Last?
Depending on the manufacturer and type of protection, warranties exceed 10 to 25 years.
Warranties are used to facilitate vital financial protection for its consumers. This proves to be the essential part while comparing systems before buying a solar panel.
A thorough understanding of coverage of the warranty and lifetime is essential. Ignore the repairing bills that can be avoided due to misunderstanding or not taking the time to comprehend the warranty details.
The warranty of the product may include the shipping, handling, and installing a replacement panel that must be taken into consideration, while various companies offer 25-year warranties. Other warranties may include the cost of a replacement panel but exclude shipping and handling charges.
How do I transfer my solar panels to a new owner?
After the installation of the solar system or right after finding a buyer for your home, you can transfer the warranties in some cases. However, some companies strictly facilitate warranties to the original buyer. If you are planning to buy the system, you can ask some of the related questions to a supplier. This is done while making the plan to purchase a system.
For transferring the warranty, you need to contact the manufacturer of the system. The buyers must be very much aware of all the details that are essential for the warranty transfer and lease agreements. To make the transferability an easy process, ensure the buyer must be aware that the home sale depends on the solar lease transfer and warranty agreements.
While purchasing, the agreement is signed in front of the manufacturer, who carries a separate credit check on the new buyers. In case of failure, you can include the cost of the system at the time of selling the home. Or on the other hand, one can also physically move the system to your new home.
The role of the warranties is to effectively increase your trust and confidence in a product. Businesses also protect their reputation by facilitating warranties to their consumers. A solar system is a valuable and long-term investment. After understanding all the warranties of the solar system before making a purchase, you become mentally prepared for any possible outcome.
Why is there a need for a warranty? Do Home Warranties cover solar panels?
Solar panels are designed to last for decades. They are sturdy and durable, able to handle harsh elements. But problems may occur in the solar panel with time. Rather than be stuck with a costly repair, your best bet is to buy product and performance warranties to safeguard your investment.
In some cases, a failed panel is not going to impact the overall performance of the system. However, on the contrary, a panel failure could cause adjacent panels to fail as well. Since panels can consume an amount of $300 or more, replacing several panels without a warranty could be an expensive choice.
On reflection, a system will not experience a catastrophic failure. The amount of production may decrease with time, facilitating you with lesser solar advantages. A certain amount of loss in efficiency is normal. Still, when it exceeds the limit, you will be stuck with an ineffective installation that won’t provide adequate electricity or save money as intended.
In some cases, solar panel insurance is covered under the homeowner’s insurance policy. In those circumstances, separate solar panel warranties are not required. The installation of the solar is considered a permanent attachment to a home.
It becomes important to visualize or check with your homeowner’s insurance provider if solar panel installations are covered or not. The amount of deductibles and claims limits for your system is also a consideration. Always compare the coverage you’ll have with a homeowner’s policy versus a solar panel warranty. There may be gaps in coverage, necessitating the purchase of a warranty for maximum protection.
Even if the solar panel warranty is covered under a homeowner’s policy, you need to look at coverage limits and consider increasing the amount to account for the cost of the solar installation.
How do I transfer ownership of solar panels?
Solar panel warranties are usually transferable from one home owner to another. But a few solar panel companies use it to facilitate warranty coverage to the original buyer of the panels and other solar equipment.
So, before making a purchase, confirm your solar energy system that your solar panel warranty will transfer in case you are supposed to sell the property in the future. Also, understand the process for seamless transfer of the warranty.
Why You Need a Solar Warranty: Advantages of it
If you desire to get a solar extended warranty service contract, make a final decision once. Comparing the pros and cons of buying a solar warranty before visiting a service contract is a good idea for your solar panel.
Lesser worries, peace of mind
The major advantage of an extended solar warranty is removing your concerns about repairs to your solar panel. Repairing defective panels under a solar warranty is just one call away. Expensive repairs are not a matter of concern after purchasing an extended warranty.
It’s an easy fix
Since you have a warranty, you need to save the number or just send an email for repair to the service provider. Forget about searching for trustworthy repair companies; your solar contract already has the most reliable companies to take care of your needs.
No more waiting is required to repair it. Solar warranty claims can be submitted online or via phone through 24/7-based services. Just call the warranty company and wait for your new panels to arrive.
Inexpensive in the long run
The advantage of a solar warranty is that there are more chances of saving from the most common repairs. The average solar warranties cost from $350 to $500. On the contrary, the owners will likely spend between 1 – 4% on solar maintenance and repairs. The cost is quite equal to the price of a solar warranty.
It may be free
When buying a solar panel, you can even get a free warranty on the product. It has become common for manufacturers to include a solar warranty in solar businesses to attain the trust and interest of the buyers.
A great incentive for buyers
If you plan to sell your home, a solar warranty can get confidence in buyers. As solar panels have a warranty, repairs are performed on time and satisfactorily. It facilitates a stress-free life that they’ll be grateful for if there are any problems.
What solar panels have the best warranty
A 10-year warranty with a budget panel is a great deal to go with, but there are some existing companies that are offering 25-year warranties. These warranty schemes include labor coverage. Under the labor coverage, it is going to cover only the part, as well as the labor cost of replacement.
The plan of these manufacturers is to facilitate the 25-year product and 25-year or more power warranties with their product purchase: The scheme of some of the companies have listed below:
South Korea-based company LG makes everything possible to be operated from smartphones. The task is washing machines. The solar panels of LG include the NeON 2, NeON R, and NeON 2 Bifacial (i.e., two-sided) series.
- The warranty of the product is about 25 years.
- The power warranty of the product is about 25 years. It also includes maximum 0.30-0.35% degradation per year and guaranteed 89.60-90.8% output after 25 years, depending on the product
Panasonic is a large Japanese corporation that makes the HIT line of heterojunction solar panels. On a recent note, Panasonic was manufacturing some solar panels in Buffalo, NY, but the company has recently dealt in.
- The warranty of the product is of about 25 years, only if you register the product within 60 days with Panasonic. Otherwise, the period of warranty is 12 years.
- The power warranty of the product is about 25 years. It includes a maximum of 0.25% degradation per year and guaranteed 90.76% output after 25 years.
Are solar panel warranties transferable?
In some special cases, the warranty of the solar panel is transferable from one homeowner to the other homeowner. However, over the market, there are some companies that facilitate the warranty card only to the real owner of the land or, we can say to the original purchaser.
The question is one of the must-ask questions before entering into a solar system agreement in case you are planning to sell the home in the future.
Contact your solar system manufacturer before you list your home for sale in the market and transmit your intentions. The buyers must be aware of the complete fact about the warranty transferability and also confirm any lease agreement can be transferred without a hitch. There must be no involvement of misunderstandings during negotiations.
As a part of the sale, the signature is initiated at the time of the leasing agreement and warranty transfer form with the solar manufacturer, who is going to present a separate credit check on the latest owners. Suppose everything is in accordance with the system; you will need to confirm with the solar provider that escrow has closed to complete the transfer.
If a buyer does not intend to take on the solar panel lease or warranty agreements, you may need to pay off the remaining amount of your service and warranty agreement. You can recoup the costs by bundling them into the sale price of your home as well. The alternative option can be a bit expensive. It says to physically transfer the system to your new home.