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Selling Your Home With a Solar Lease in Corona CA 92878

Selling Your Home With a Solar Lease in Corona CA 92878

Problems With Solar Lease in CoronaBefore you sign your name to a solar panel lease on your home in Corona CA 92878 you need to understand exactly what you are truly getting into. If you’re in business of selling solar leases perhaps you should try Googling this, “benefits of solar lease” Read all of the page one results and see what your consumer’s are checking out if they do even a percentage of research. You likewise might try Googling, “selling home with solar lease” and “solar lease vs. purchase”. Read exactly what your customer’s will check out when they do 30 minutes of study online before dedicating to a 20 year contract. Maybe you’ll now understand why you get so many cancellations and why if you don’t seal the deal on the very first visit you’ve got virtually no chance of closing it later. Why not change your method do exactly what’s right for the customer and get on board with a company that offers industry leading value (cost + quality + service).

The Solar Lease in Corona CA 92878 or PPA Sales Pitch usually includes six main points. We talked about each below.

1. Go Solar and Pay Nothing! Or no cash out of pocket.

Signing a 20 year contract where you assure to pay X hundred dollars per month is barely paying absolutely nothing. If you add up all those monthly payments during the term of the contract you’ll be paying 2 to 3 times what you would have paid buying the solar system even if you factor in the interest paid on the solar loan. Lots of zero money down solar loans are readily available. If you have the credit score to get the lease you can utilize the bank’s cash to fund your solar system with zero cash down.

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2. No worries. The leasing/PPA company in Corona CA 92878 is accountable for all repair and maintenance on the system.

The renting company will not clean your solar panels which is about just upkeep used on a solar system. Solar systems are incredibly low upkeep without any moving parts and come with extremely long manufacturer’s warranties and performance guarantees. 25 years with a microinverter based system, that’s longer than the leasing companies’ warranty. Most tier 1 solar devices manufacturers are bigger and more financially stable than the solar leasing company by many multiples. Those long service warranties are backed up by a 20 year bumper to bumper service warranty from Solar Symphony.

3. Insurance coverage– go solar with a lease and the leasing company insures the system.

Purchase a system and the solar system is covered under your house owner’s policy for a just a couple dollars per month.

4. Tracking– the renting business monitors your system for the life of the lease/PPA.

When you acquire a system you likewise get monitoring for the life of the system, making use of the same tracking equipment utilized by the leasing company.

5. Just sign an agreement and the leasing company does everything else.

When purchasing a system you also simply sign an agreement and the solar specialists does everything else. Distinction is the leasing business contract is 17 pages (small print) and the solar contractor’s contract is 2 pages.

6. A lease doesn’t hit your individual credit. Doesn’t affect your financial obligation to income ratio.

This might be the only true benefit of the lease however it comes at an awefully high price. If this is one of your main concerns there are funding options for a purchase (PACE and HERO) that also don’t strike your personal credit or influence your financial obligation to income ratio. And those programs enable virtually any homeowner to go solar despite their credit score.

Now for the six major downsides to a solar lease in Corona CA 92878 or PPA.

1. A lease is a 20 year liability. It is not an asset or an investment in solar. The solar leasing business are purchasing solar on your roofing system! You’re just offering them an ensured 20 year capital!

2. Now you have two energy expenses not just one! In essence the renting business ends up being a second energy. So, sign a solar lease and now you have two energy companies you have to pay each month.

3. Most leases or PPAs lug a yearly cost escalator, generally 2.9 %. So while you may be saving cash today in a numerous years you will not be.

4. You won’t be able to claim the 30 % federal tax credit and any applicable 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 free power with a lease or PPA. In contrast, if you purchase a solar system once the solar loan is paid off you can enjoy free electricity from the sun for 10– 15 years depending on the length of the solar loan.

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6. Selling your house with a solar lease or PPA can be bothersome. Solar leases need the brand-new owner to assume the lease and terms. If you read any of the above you can probably see why an informed customer would not want presuming the commitments of your lease. This is especially true if the lease is 7 or more years of ages and the yearly cost escalator in the lease has actually now raised the cost of electrical power to equivalent or more than the expense of electrical energy from the utility.

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