Reading the actual guideline text below — never a general AI guess

Here's what the guidelines say: We have to treat solar panels one of two completely different ways depending on who owns them. If you bought the panels outright, financed them as part of your mortgage, or paid off a separate solar loan, we can count them as adding value to your home in our appraisal. But if you're leasing the panels or they're covered by a power purchase agreement where the company retains ownership and can remove them, we have to treat them as someone else's personal property and exclude them from the home's value entirely—even if they're permanently wired in. The same rule applies to home batteries: owned or mortgage-financed batteries count toward value, while leased or separately repossessed batteries do not. VA and Fannie Mae both emphasize that appraisers must also consider what actually happens to the home's value if leased equipment gets taken away, since that removal could hurt what the property is worth.

Straight from Solar PV: Real vs. Personal Property & Valuation (Fannie Mae, Freddie Mac, FHA, VA, UAD 3.6), Fannie Mae Selling Guide, VA Lenders Handbook (Pamphlet 26-7), and UAD 3.6 / URAR (FNMA) — nothing added.

Recent California data shows 5-10% premium for owned solar homes

California-specific data shows owned solar panels add 5–10% to home value (about $39,500–$79,000 on median homes), while leased panels generally do not add appraised value.

Fannie Mae appraisal guidelines exclude leased solar panels from property value

Under Fannie Mae's appraisal guidelines, leased solar panels, those under a power purchase agreement (PPA), or separately financed with a UCC lien may not contribute to appraised property value.