Prior to you sign your name to a solar panel lease on your home in Oceanside CA 92049 you need to comprehend what you are actually getting into. If you’re in the business of offering solar leases possibly you should attempt Googling this, “benefits of solar lease” Read all of the page one results and see exactly what your consumer’s are checking out if they do even a small amount of homework. You likewise might try Googling, “selling home with solar lease” and “solar lease vs. buy”. Read what your consumer’s will read when they do 30 minutes of research online before committing to a 20 year agreement. Perhaps you’ll now understand why you get many cancellations and why if you don’t close the deal on the first consultation you’ve got nearly no chance of closing it later on. Why not change your strategy do what’s right for the consumer and get on board with a company that provides industry leading value (rate + quality + service).
The Solar Lease in Oceanside CA 92049 or PPA Sales Pitch usually consists of six main points. We discussed each below.
1. Go Solar and Pay Nothing! Or no money 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 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 cash down solar loans are readily available. If you have the credit history to get approved for the lease you can use the bank’s cash to fund your solar system with zero money down.
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2. No fears. The leasing/PPA company in Oceanside CA 92049 is liable for all repair and maintenance on the system.
The leasing business will not clean your photovoltaic panels which is about only maintenance required on a solar system. Solar systems are very low maintenance without any moving parts and come with exceptionally long manufacturer’s warranties and performance assurances. 25 years with a microinverter based system, that’s longer than the leasing business’ warranty. Most tier 1 solar equipment producers are bigger and more financially stable than the solar leasing company by lots of multiples. Those long 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. Monitoring– the renting 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 very same monitoring devices used by the leasing company.
5. Simply sign an agreement and the leasing company does everything else.
When acquiring a system you likewise just sign an agreement and the solar specialists does everything else. Difference is the leasing companies contract is 17 pages (small print) and the solar professional’s agreement is 2 pages.
6. A lease does not hit your individual credit. Does not impact your financial obligation to earnings ratio.
This may be the only real advantage of the lease however it comes at an awefully high price. If this is among your main concerns there are funding choices for a purchase (PACE and HERO) that likewise don’t strike your personal credit or influence your financial obligation to income ratio. And those programs enable almost any homeowner to go solar no matter their credit rating.
Now for the 6 main drawbacks to a solar lease in Oceanside CA 92049 or PPA.
1. A lease is a 20 year liability. It is not a possession or a financial investment in solar. The solar leasing companies are purchasing solar on your roofing! You’re simply offering them a guaranteed 20 year cash flow!
2. Now you have 2 energy expenses not simply one! In essence the renting company ends up being a 2nd energy. So, sign a solar lease and now you have 2 energy business you need to pay monthly.
3. Many leases or PPAs lug an annual expense escalator, usually 2.9 %. So while you may be conserving cash today in a numerous years you will not be.
4. You will not have the ability to declare the 30 % federal tax credit and any relevant cash rebates. You also won’t be able to claim any tax deductible interest on solar loan payments (HELOC or PACE).
5. You never ever get to complimentary power with a lease or PPA. On the other hand, if you acquire a solar system once the solar loan is paid off you can get free electrical energy from the sun for 10– 15 years depending upon the length of the solar loan.
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6. Offering your house with a solar lease or PPA can be troublesome. Solar leases need the new owner to assume the lease and terms. If you read any of the above you can probably see why an educated consumer would not be interested in presuming the commitments of your lease. This is specifically real if the lease is 7 or more years of ages and the yearly expense escalator in the lease has now raised the expense of electrical power to equal or more than the expense of electrical energy from the energy.