Solar Leasing F.A.Q.
What are my potential savings if I choose to lease my solar energy system?
Savings vary based on the configuration of the solar energy system and existing electricity storage. A solar system will be designed for your home and energy needs to optimize your annual energy savings.
Will my lease payments go up with rising electricity prices?
Your lease payments are not tied to electricity prices. In California for example, your lease payments will increase annually at a rate between 0% to 3.9%, less than one-half the rate at which electricity prices in the state have risen historically over the past 10 years.
How do I choose a solar energy system?
We’ll recommend the best solution for your needs, and then lease that system to you.
Who is responsible for operating and maintaining the system?
Your lease agreement includes system output monitoring, theft and damage insurance, equipment repairs, inverter replacement, and a system output warranty.
Can I buy the solar energy system before the end of the lease term?
Yes, you will have an opportunity to purchase the system after the first six years of the lease agreement. You will also have the option to purchase the system if you sell your home.
What happens if I sell my house?
You will be able to transfer lease payments to the new homeowner, provided the new homeowner qualifies for credit. Alternatively, you will have the option to purchase the solar energy system and sell it along with the house.
If I lease, will I still benefit from state and federal incentives and other rebate programs?
Yes, you do benefit from any incentives and rebates, which are factored into your lease agreement. Since you don’t own the system, all state and federal incentives are passed back to you indirectly in the form of lower monthly lease payments.
What happens if our energy usage changes — we need more or use less?
The solar system produces approximately the amount estimated in the proposal. Any increase or decrease in electric usage will be reflected in your electric utility bill. If your usage decreases, you will still receive credit from your utility for the energy your system produces.
What happens at the end of the lease term?
At the end of the lease term you have the option to purchase the system. If you choose not to, you may have it uninstalled and returned at no additional cost.