Prior to you sign your name to a solar panel lease on your house in Oceanside CA 92052 you have to understand exactly what you are really getting into. If you’re in business of selling solar leases maybe you must try Googling this, “benefits of solar lease” Read all of the page one results and see exactly what your customer’s are checking out if they do even a percentage of homework. You likewise might attempt Googling, “selling home with solar lease” and “solar lease vs. purchase”. Read what your consumer’s will certainly check out when they do 30 minutes of research online before dedicating to a 20 year agreement. Maybe you’ll now understand why you get many cancellations and why if you don’t close the deal on the very first visit you’ve got nearly no chance of closing it later. Why not alter your strategy do exactly what’s right for the customer and get on board with a company that supplies market leading value (rate + quality + service).
The Solar Lease in Oceanside CA 92052 or PPA Sales Pitch generally consists of 6 main points. We discussed each below.
1. Go Solar and Pay Nothing! Or no money out of pocket.
Signing a 20 year contract in which you guarantee to pay X hundred dollars per month is barely paying absolutely nothing. If you accumulate all of those month-to-month payments during the regard to the contract you’ll be paying 2 to 3 times what you would have paid purchasing the solar system even if you factor in the interest paid on the solar loan. Many no money down solar loans are offered. If you have the credit report to get approved for the lease you can use the bank’s money to fund your solar system with absolutely no money down.
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2. No fears. The leasing/PPA company in Oceanside CA 92052 is accountable for all repair and maintenance on the system.
The leasing business will not clean your solar panels which is about just upkeep used on a solar system. Solar systems are very low maintenance without any moving parts and come with extremely long manufacturer’s service warranties and efficiency warranties. 25 years with a microinverter based system, that’s longer than the leasing companies’ warranty. Many tier 1 solar devices producers are bigger and more financially stable than the solar leasing company by numerous multiples. Those long warranties are supported by a 20 year bumper to bumper warranty from Solar Symphony.
3. Insurance coverage– go solar with a lease and the leasing company guarantees the system.
Purchase a system and the solar system is covered under your homeowner’s policy for a just a couple dollars per month.
4. Monitoring– the renting business monitors your system for the life of the lease/PPA.
When you purchase a system you also get keeping track of for the life of the system, utilizing the exact same monitoring devices used by the leasing company.
5. Simply sign a contract and the renting company does everything else.
When purchasing a system you also just sign an agreement and the solar professionals does everything else. Difference is the leasing business agreement is 17 pages (fine print) and the solar service provider’s contract is 2 pages.
6. A lease does not hit your personal credit. Doesn’t influence your financial obligation to earnings ratio.
This may be the only real advantage of the lease however it comes at an awefully high rate. If this is one of your major issues there are funding choices for a purchase (PACE and HERO) that also do not strike your personal credit or affect your financial obligation to earnings ratio. And those programs enable practically any homeowner to go solar regardless of their credit rating.
Now for the six main downsides to a solar lease in Oceanside CA 92052 or PPA.
1. A lease is a 20 year liability. It is not a possession or an investment in solar. The solar leasing business are buying solar on your roof! You’re simply offering them an ensured 20 year capital!
2. Now you have two energy expenses not simply one! In essence the leasing company ends up being a second energy. So, sign a solar lease and now you have 2 utility companies you need to pay monthly.
3. The majority of leases or PPAs carry an annual expense escalator, typically 2.9 %. So while you might be conserving money today in a numerous years you won’t be.
4. You will not be able to claim the 30 % federal tax credit and any appropriate money rebates. You also will not be able to assert any tax deductible interest on solar loan payments (HELOC or PACE).
5. You never ever get to complimentary power with a lease or PPA. In contrast, if you purchase a solar system once the solar loan is settled you can delight in totally free electrical power from the sun for 10– 15 years depending upon the length of the solar loan.
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6. Selling your house with a solar lease or PPA can be troublesome. Solar leases use the brand-new owner to assume the lease and terms. If you check out any of the above you can most likely see why an enlightened consumer would not want assuming the obligations of your lease. This is specifically true if the lease is 7 or more years old and the yearly cost escalator in the lease has now raised the cost of electrical power to equivalent or more than the cost of electrical energy from the energy.