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Selling Your Home With a Solar Lease in Oceanside CA 92058

Selling Your Home With a Solar Lease in Oceanside CA 92058

Problems With Solar Lease in OceansideBefore you sign your name to a solar panel lease on your house in Oceanside CA 92058 you need to understand exactly what you are actually getting into. If you’re in business of offering solar leases perhaps you should attempt Googling this, “benefits of solar lease” Read all the page one results and see exactly what your client’s are checking out if they do even a small amount of homework. You also 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 research online before committing to a 20 year agreement. Possibly you’ll now understand why you get numerous cancellations and why if you don’t close the deal on the first visit you’ve got nearly no possibility of closing it later on. Why not alter your technique do exactly what’s right for the consumer and get on board with a business that offers industry leading value (cost + quality + service).

The Solar Lease in Oceanside CA 92058 or PPA Sales Pitch normally consists of six main points. We went over each below.

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

Signing a 20 year agreement in which you assure to pay X hundred dollars per month is hardly paying nothing. If you build up all those monthly payments during the term of the agreement you’ll be paying 2 to 3 times exactly what you would have paid buying the solar system even if you factor in the interest paid on the solar loan. Numerous zero cash down solar loans are offered. 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 zero money down.

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2. No worries. The leasing/PPA business in Oceanside CA 92058 is liable for all maintenance and repairs on the system.

The renting business will not clean your solar panels which is about only upkeep needed on a solar system. Solar systems are extremely low upkeep with no moving parts and feature very long maker’s service warranties and performance warranties. 25 years with a microinverter based system, that’s longer than the leasing business’ assurance. Many tier 1 solar equipment manufacturers are larger and more solvent than the solar leasing company by numerous multiples. Those long guarantees are backed up by a 20 year bumper to bumper guarantee from Solar Symphony.

3. Insurance coverage– go solar with a lease and the renting company guarantees 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 leasing business monitors your system for the life of the lease/PPA.

When you purchase a system you likewise get monitoring for the life of the system, utilizing the exact same tracking devices used by the leasing business.

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

When buying a system you also simply sign a contract and the solar contractors does everything else. Distinction is the leasing companies contract is 17 pages (fine print) and the solar contractor’s contract is 2 pages.

6. A lease doesn’t strike your individual credit. Does not impact your debt to earnings ratio.

This may be the only real benefit of the lease however it comes at an awefully high cost. If this is among your primary issues there are financing alternatives for a purchase (PACE and HERO) that likewise don’t hit your personal credit or influence your debt to income ratio. And those programs permit nearly any house owner to go solar despite their credit score.

Now for the six major downsides to a solar lease in Oceanside CA 92058 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 buying solar on your roofing! You’re simply offering them an ensured 20 year cash flow!

2. Now you have 2 utility expenses not just one! In essence the leasing business ends up being a 2nd utility. So, sign a solar lease and now you have two energy companies you need to pay monthly.

3. Many leases or PPAs lug an annual cost escalator, usually 2.9 %. So while you may be conserving cash 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 relevant cash discounts. You likewise will not 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. On the other hand, if you purchase a solar system once the solar loan is settled you can take pleasure in complimentary electrical power from the sun for 10– 15 years depending on the length of the solar loan.

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6. Selling your home with a solar lease or PPA can be bothersome. Solar leases need the brand-new owner to assume the lease and terms. If you check out any of the above you can probably see why an informed customer would not want assuming the obligations of your lease. This is specifically real if the lease is 7 or more years old and the annual expense escalator in the lease has now raised the expense of electricity to equal or more than the expense of electricity from the energy.

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