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Selling Your Home With a Solar Lease in Palomar Mountain CA 92060

Selling Your Home With a Solar Lease in Palomar Mountain CA 92060

Problems With Solar Lease in Palomar MountainBefore you sign your name to a solar panel lease on your house in Palomar Mountain CA 92060 you have to comprehend what you are truly getting into. If you’re in business of selling solar leases possibly you must try Googling this, “benefits of solar lease” Read all of the page one results and see what your customer’s are reading if they do even a small amount of research. You also may try Googling, “selling home with solar lease” and “solar lease vs. buy”. Read exactly what your client’s will certainly check out when they do 30 minutes of research online before dedicating to a 20 year contract. Perhaps you’ll now comprehend why you get a lot of cancellations and why if you do not seal the deal on the first appointment you’ve got virtually no chance of closing it later. Why not change your approach do what’s right for the customer and get on board with a business that offers industry leading value (price + quality + service).

The Solar Lease in Palomar Mountain CA 92060 or PPA Sales Pitch typically includes 6 main points. We talked about each below.

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

Signing a 20 year contract in which you promise to pay X hundred dollars per month is barely paying nothing. If you build up all of those regular monthly payments during 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 consider the interest paid on the solar loan. Lots of no cash down solar loans are available. If you have the credit history to get the lease you can make use of the bank’s cash to finance your solar system with zero cash down.

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2. No worries. The leasing/PPA company in Palomar Mountain CA 92060 is responsible for all repair and maintenance on the system.

The leasing business will certainly not clean your photovoltaic panels which is about only maintenance needed on a solar system. Solar systems are extremely low upkeep with no moving parts and have extremely long producer’s warranties and performance guarantees. 25 years with a microinverter based system, that’s longer than the leasing companies’ assurance. Most tier 1 solar equipment makers are larger and more solvent than the solar leasing company by numerous multiples. Those long warranties are backed up by a 20 year bumper to bumper warranty from Solar Symphony.

3. Insurance– go solar with a lease and the leasing business guarantees the system.

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

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

When you buy a system you also get keeping track of for the life of the system, utilizing the exact same monitoring devices utilized by the leasing business.

5. Just sign a contract and the leasing company does everything else.

When acquiring a system you likewise simply sign a contract and the solar professionals does everything else. Distinction is the leasing business contract is 17 pages (fine print) and the solar professional’s contract is 2 pages.

6. A lease does not hit your personal credit. Does not impact your debt to earnings ratio.

This might be the only true benefit of the lease but it comes at an awefully high rate. If this is one of your primary issues there are funding choices for a purchase (PACE and HERO) that also don’t hit your individual credit or influence your debt to earnings ratio. And those programs allow practically any house owner to go solar regardless of their credit rating.

Now for the six major disadvantages to a solar lease in Palomar Mountain CA 92060 or PPA.

1. A lease is a 20 year liability. It is not an asset or a financial investment in solar. The solar leasing companies are purchasing solar on your roof! You’re just providing them an ensured 20 year capital!

2. Now you have 2 energy bills not simply one! In essence the renting business ends up being a 2nd utility. 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, typically 2.9 %. So while you may be conserving money today in a several years you will not be.

4. You will not have the ability to claim the 30 % federal tax credit and any relevant money refunds. 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. In contrast, if you buy a solar system once the solar loan is paid off you can delight in free 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 require 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 be interested in presuming the commitments of your lease. This is especially true if the lease is 7 or more years old and the yearly cost escalator in the lease has actually now raised the expense of electricity to equal or more than the cost of electrical power from the energy.

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