Possibly buying a house with solar. Lease question w/pic inside

[MartyMcFLy]

So this home has a system installed by SunRun. I noticed this sticker on the meter. Does this generally mean the system is leased or is this a typical sticker that SunRun sticks on the meters? Thank you!

[inetdog]

In the absence of any other information, such as a completed buy out agreement on the lease, I would say that this is a leased system.
That information should have been disclosed as part of the sales agreement.
Whether the lease automatically transfers to you when you purchase the property and just what recourse SunRun has in the matter is an issue for an attorney who has seen the lease contract.

As a general rule a leased solar system makes selling the house more complicated and may actually lower the selling price, unlike an owned system which can increase the value.

It is possible that this installation involves a Power Purchase Agreement or a prepaid lease, in which case the situation is slightly different.
Ask your realtor to get accurate information!

[Mike90250]

The sticker says it's a lease, and you better beware of the dirty laundry, get a lawyer to understand it, realtors can disclose the info, but assuming someone elses lease seldom leaves you in a favorable position.

[thejq]

Ethics aside, I'd try to use this as an excuse to get better pricing on the house and/or the solar system buy out. Many people don't like taking over leases for obvious reasons.

[Vaggeto]

Check the details

Make sure you look into the details of the Solar Agreement.

In my case, the previous owner had prepaid for 20 years of what the system would generate. About $9000 worth, and now that I took over the lease I have the full support of SolarCity as if I was the one who paid $9000, but there really was no cost and we're only 2 years into the agreement.

It definitely wasn't clear until after several follow-up emails to figure this out.