Before you sign your name to a solar panel lease on your house in Indio CA 92203 you need to understand exactly what you are really getting into. If you’re in the business of offering solar leases maybe you need to try Googling this, “benefits of solar lease” Read all of the page one results and see exactly what your customer’s are reading if they do even a percentage of homework. You likewise may try Googling, “selling home with solar lease” and “solar lease vs. purchase”. Read exactly what your customer’s will certainly read when they do 30 minutes of study online prior to committing to a 20 year agreement. Maybe you’ll now understand why you get a lot of cancellations and why if you don’t close the deal on the very first consultation you’ve got nearly no possibility of closing it later. Why not alter your approach do exactly what’s right for the customer and get on board with a company that provides industry leading value (price + quality + service).
The Solar Lease in Indio CA 92203 or PPA Sales Pitch normally includes 6 main points. We went over each below.
1. Go Solar and Pay Nothing! Or no cash out of pocket.
Signing a 20 year agreement where you promise to pay X hundred dollars per month is hardly paying nothing. If you add up all of those monthly payments throughout the regard to the agreement you’ll be paying 2 to 3 times exactly what you would have paid acquiring the solar system even if you factor in the interest paid on the solar loan. Lots of absolutely no money down solar loans are available. If you have the credit history to get approved for the lease you can use the bank’s cash to finance your solar system with no cash down.
[ssvideo keyword=”Solar Companies” title=”Solar Companies in Indio”]
2. No fears. The leasing/PPA company in Indio CA 92203 is responsible for all maintenance and repairs on the system.
The renting company will not clean your photovoltaic panels which is about just upkeep needed on a solar system. Solar systems are exceptionally low maintenance without any moving parts and have exceptionally long producer’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 equipment makers are larger and more financially stable than the solar leasing company by lots of multiples. Those long guarantees are supported by a 20 year bumper to bumper service warranty from Solar Symphony.
3. Insurance– go solar with a lease and the renting business guarantees the system.
Purchase a system and the solar system is covered under your property owner’s policy for a just a couple dollars per month.
4. Tracking– the leasing business monitors your system for the life of the lease/PPA.
When you acquire a system you also get monitoring for the life of the system, utilizing the same monitoring devices utilized by the leasing business.
5. Just sign a contract and the renting company does everything else.
When acquiring a system you also just sign an agreement and the solar specialists does everything else. Difference is the leasing business contract is 17 pages (fine print) and the solar specialist’s agreement is 2 pages.
6. A lease doesn’t strike your personal credit. Doesn’t impact your debt to earnings ratio.
This might be the only true benefit of the lease however it comes at an awefully high cost. If this is among your primary concerns there are financing alternatives for a purchase (PACE and HERO) that likewise do not strike your individual credit or affect your debt to earnings ratio. And those programs enable nearly any property owner to go solar despite their credit score.
Now for the 6 primary drawbacks to a solar lease in Indio CA 92203 or PPA.
1. A lease is a 20 year liability. It is not a possession or a financial investment in solar. The solar leasing business are purchasing solar on your roofing system! You’re just offering them a guaranteed 20 year capital!
2. Now you have 2 utility expenses not just one! In essence the renting business ends up being a 2nd energy. So, sign a solar lease and now you have two utility companies you have to pay monthly.
3. Most leases or PPAs bring an annual cost escalator, normally 2.9 %. So while you may be saving money today in a several years you won’t be.
4. You will not have the ability to claim the 30 % federal tax credit and any suitable money discounts. You likewise will not be able to declare any tax deductible interest on solar loan payments (HELOC or PACE).
5. You never ever get to totally free power with a lease or PPA. In contrast, if you purchase a solar system once the solar loan is paid off you can get totally free electricity from the sun for 10– 15 years depending on the length of the solar loan.
[google-map location=”Indio CA”]
6. Selling your home 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 probably see why an enlightened consumer would not have an interest in presuming the commitments of your lease. This is particularly real if the lease is 7 or more years old and the yearly expense escalator in the lease has now raised the expense of electrical energy to equal or more than the expense of electrical power from the utility.