Before you sign your name to a solar panel lease on your house in Anaheim CA 92814 you need to comprehend what you are really getting into. If you’re in business of selling solar leases possibly you ought to try Googling this, “benefits of solar lease” Read all of the page one results and see exactly what your client’s are checking out if they do even a percentage of research. You likewise might attempt Googling, “selling home with solar lease” and “solar lease vs. purchase”. Read what your customer’s will read when they do 30 minutes of study online prior to committing to a 20 year agreement. Perhaps you’ll now understand why you get so many cancellations and why if you don’t close the deal on the first appointment you’ve got practically no possibility of closing it later. Why not change your approach do what’s right for the customer and get on board with a business that supplies market leading value (price + quality + service).
The Solar Lease in Anaheim CA 92814 or PPA Sales Pitch normally consists of 6 bottom lines. We went over each below.
1. Go Solar and Pay Nothing! Or no cash out of pocket.
Signing a 20 year contract in which you assure to pay X hundred dollars per month is hardly paying absolutely nothing. If you add up all those monthly payments during the term of the agreement you’ll be paying 2 to 3 times what you would have paid buying the solar system even if you consider the interest paid on the solar loan. Lots of absolutely no money down solar loans are offered. If you have the credit score to get approved for the lease you can make use of the bank’s cash to fund your solar system with zero money down.
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2. No worries. The leasing/PPA business in Anaheim CA 92814 is responsible for all repair and maintenance on the system.
The leasing company will not clean your photovoltaic panels which has to do with just upkeep needed on a solar system. Solar systems are very low upkeep with no moving parts and feature incredibly long manufacturer’s service warranties and efficiency warranties. 25 years with a microinverter based system, that’s longer than the leasing business’ warranty. Many tier 1 solar devices manufacturers are larger and more financially stable than the solar leasing business by many multiples. Those long service warranties are backed up by a 20 year bumper to bumper service warranty from Solar Symphony.
3. Insurance– go solar with a lease and the leasing company guarantees the system.
Purchase a system and the solar system is covered under your property owner’s policy for a simply a couple dollars per month.
4. Monitoring– the leasing company monitors your system for the life of the lease/PPA.
When you buy a system you also get keeping an eye on for the life of the system, utilizing the very same monitoring equipment utilized by the leasing company.
5. Just sign an agreement and the leasing business does everything else.
When acquiring a system you likewise just sign an agreement and the solar specialists does everything else. Distinction is the leasing business agreement is 17 pages (fine print) and the solar specialist’s agreement is 2 pages.
6. A lease does not hit your individual credit. Doesn’t influence your debt to earnings ratio.
This might be the only real benefit of the lease but it comes at an awefully high price. If this is one of your major issues there are financing choices for a purchase (PACE and HERO) that likewise don’t strike your personal credit or affect your debt to earnings ratio. And those programs permit nearly any house owner to go solar regardless of their credit score.
Now for the six primary downsides to a solar lease in Anaheim CA 92814 or PPA.
1. A lease is a 20 year liability. It is not a possession or an investment in solar. The solar leasing companies are purchasing solar on your roofing! You’re simply offering them an ensured 20 year cash flow!
2. Now you have 2 utility expenses not simply one! In essence the renting company becomes a second utility. So, sign a solar lease and now you have two energy business you need to pay monthly.
3. Most leases or PPAs bring an annual expense escalator, normally 2.9 %. So while you may be conserving cash today in a numerous years you will not be.
4. You won’t have the ability to declare the 30 % federal tax credit and any suitable money discounts. You likewise won’t be able to assert any tax deductible interest on solar loan payments (HELOC or PACE).
5. You never get to complimentary power with a lease or PPA. In contrast, if you buy a solar system once the solar loan is paid off you can enjoy 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 home with a solar lease or PPA can be problematic. Solar leases need the new owner to presume the lease and terms. If you check out any of the above you can most likely see why an informed customer would not want presuming the obligations of your lease. This is particularly real if the lease is 7 or more years old and the annual expense escalator in the lease has now raised the expense of electrical energy to equal or more than the cost of electrical power from the energy.