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Solar Assist is here to help you understand the different purchase, leasing and PPA options available, for all residential and commercial solar applications.
A “Solar Lease” is when someone else owns the solar energy equipment (usually the leasing company). And you pay a monthly payment to lease it for the lease term (usually 10-25 years). Often the lease payment escalates (increases) over time. These lease payments may be wholly or partially balanced by lower electric utility bills.
Ability to Sell your Home & Property Appreciation: Leases are long-term financial liabilities. If you want to sell your home during the lease term the buyer will need to assume those lease payments. This may be a hindrance, and perhaps a deal breaker, when trying to sell your home. For this reason, the presence of a solar lease may actually lower the value of your home. On the other hand, if you purchase your solar energy system, it is then an asset that can improve your property value (property appreciation).
During the term of an operating lease, the leasing company is supposed to insure the system operates properly. However this is a benefit of little value (modern solar systems are largely “maintenance free”), and may actually be a liability in the longer term: The leasing company “operates” the solar energy system for 10-25 years (or whatever is the lease term).
However the likelihood of solar equipment failing during that term is negligible. Yet for a lease company to maximize its profits, they will minimize the cost of equipment and labor to install and maintain the system. This may mean “cheaper” equipment is being installed.
A Lease is not an “investment” — with a lease you do not have ownership of the solar assets. A solar lease is a financial commitment to a long stream of lease payments. For this reason a Lease adds no value to your property (property appreciation), and may actually reduce property value and/or be a hindrance when trying to sell your home.
Pay Now or Pay More Later? Many leases are promoted as “no money down” methods to go solar. And the prospect of installing solar for “no money down” may be enticing. But be aware of the lease costs and liabilities that could come back to bite you – a solar lease may limit or negate any financial advantages you could have gained by investing in a solar energy system with your own cash or a well-structured loan.
Ask why would you be better off with a Lease compared to a purchase with cash or a well structured loan. Why would you agree to a lease?
In today’s market, solar energy systems can be one of the best long-term investments you can make.
Owning Solar Power provides great, long-term dividends and earnings, being a secure investment with minimum risk factor, your homeowners insurance should cover the potential for damage and generous (typically 25 -30 year) equipment warranties cover the risk of any major equipment failure.
Cashflow Comparison (typical): The graph below shows the significant wealth that can be created by investing in a solar electric (PV) system via cash and/or a loan. In this comparison committing to a solar lease results in a 40% reduction in cash gained. A solar lease drops accumulated cash savings from over $100,00 to about $60,000 over the life of the solar electric (PV) system.
That’s money moved away from you to the leasing company’s pocket (“Wallstreet”). It is the leasing company that made the “investment”, not you. By signing a lease you become the source of the leasing company’s profits.
The exclusive Solar Assist 30 year complete system and installation warranty is fully transferable, this industry leading extended warranty is above standard manufactures warranty.
American-made quality, reliability and durability. SolarWorld panels are widely recognized as the industry standard in quality – the result of the company’s commitment to research and development, quality materials and manufacturing excellence.
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