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  • Prepaid Solar Leases

    the only way that the lease makes sense to me is if you do the prepay. Then the lease is paid for and if you sell the home there is not credit check required for the new home buyer and it's just a transfer of the lease at that point. Doing a monthly is a dumb as going into huge debt for college. That's my .02 cents for what it's worth. I sell the suncap lease and people always ask me what happens if suncap is not in business in 20 years and I just reply with "well then you got a solar system for almost half price." At that point I would not care as the home owner. Everything has it's ups and downs.

  • #2
    Originally posted by nrgdeville View Post
    the only way that the lease makes sense to me is if you do the prepay. Then the lease is paid for and if you sell the home there is not credit check required for the new home buyer and it's just a transfer of the lease at that point. Doing a monthly is a dumb as going into huge debt for college. That's my .02 cents for what it's worth. I sell the suncap lease and people always ask me what happens if suncap is not in business in 20 years and I just reply with "well then you got a solar system for almost half price." At that point I would not care as the home owner. Everything has it's ups and downs.


    I disagree. Take a retired couple with no tax liability and a limited budget. If they're planning on being in their house for a long time, or for good, and they can turn a $200 a month electric bill into $160...170....fixed payment plus whatever the billing/metering fee is, then it makes sense for them, not because they're saving a ton of money, but because their energy costs will be relatively fixed which is a great thing to have being on a fixed budget.


    Now if you're someone who has the financial wherewithal to do a prepaid lease, and still don't do it, then I don't understand where your head is at, but the monthly lease can make sense, but it all depends on that person's circumstances. Where the monthly really falls short is when there's an escalator or adjusting payment. If you lease and your payment increases 3-4% yearly, that is truly a dumb decision that I can't for the life of me comprehend.

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    • #3
      wrong...and completely irresponsible

      Originally posted by nrgdeville View Post
      the only way that the lease makes sense to me is if you do the prepay. Then the lease is paid for and if you sell the home there is not credit check required for the new home buyer and it's just a transfer of the lease at that point. Doing a monthly is a dumb as going into huge debt for college. That's my .02 cents for what it's worth. I sell the suncap lease and people always ask me what happens if suncap is not in business in 20 years and I just reply with "well then you got a solar system for almost half price." At that point I would not care as the home owner. Everything has it's ups and downs.
      It's appalling to me that you are so poorly trained that you can tell such crap to your customers. If Suncap goes out of business the assets of the business will be sold to service any outstanding debt. A lease is a promise to make a stream of payments, so whoever purchases that lease from Suncap will expect to receive those payments. Even more likely is that Suncap is securitizing those leases, meaning they are selling them to investors. Suncap may just be servicing the leases but may not even own them.

      And the equipment on your roof is another asset of the company (I'm sure they will have filed UCC statements to back up their claims too). It's an outright lie to lead a customer to believe that they will have any chance of not having to pay the lease and that they will own the equipment. In fact, there is an increased chance that the ownership of the PV equipment on their roof could be in doubt raising serious issues about title transfer. Shame on you.

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      • #4
        why is it that people on the internet find it necessary to be so rude. I was speaking about the prepaid lease. I'm well aware that they will simply sell off the leases but if it's a prepaid lease the customers are more concerned with the service. I am also well aware that they will still be serviced as outlined in the contract and have explained this to the customers. You don't have to be so aggressive with your reply as I am learning and come to others to ask for advice and not to be spoken to like a 5 year old. Thanks for your reply though.

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        • #5
          Originally posted by nrgdeville View Post
          if you sell the home there is not credit check required for the new home buyer and it's just a transfer of the lease at that point.
          Which lease promises they won't run a credit check for the new home owner? Not "oh they won't do it" I mean the lease contract says it's not needed if you pre-pay. I'm really curious.

          what happens if suncap is not in business in 20 years and I just reply with "well then you got a solar system for almost half price."
          That's pretty optimistic. In some ways, it would be cool for the h.o. if it worked out that way. But there are lots of ways and extents a company can "go under" and many do not just quietly slink away and let you keep their assets.


          One thing I do NOT like about the new Sunpower lease is it recycled from their monthly payment lease; so there is a lot of language in there that should not be there IMO, like allowing them to run a credit check whenever they want (if they suspect you won't hold up your end of the lease, ie monthly payments). There are several other spots with language like this. If they would just clean it up and strip a lot of that stuff out or tone it down for pre-paid lease it would be even more reasonable.

          It doesn't mean they WILL run the credit check, after all why would they when they already have all your money? I don't know, but that kind of appeasement makes me cringe b/c I hear it all the time by sales people and I think "Oh they won't ever do that? OK then let's cross that part right out then....please initial here Mr. salesman"

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          • #6
            Originally posted by cebury View Post
            One thing I do NOT like about the new Sunpower lease is it recycled from their monthly payment lease; so there is a lot of language in there that should not be there IMO, like allowing them to run a credit check whenever they want (if they suspect you won't hold up your end of the lease, ie monthly payments). There are several other spots with language like this. If they would just clean it up and strip a lot of that stuff out or tone it down for pre-paid lease it would be even more reasonable.

            It doesn't mean they WILL run the credit check, after all why would they when they already have all your money? I don't know, but that kind of appeasement makes me cringe b/c I hear it all the time by sales people and I think "Oh they won't ever do that? OK then let's cross that part right out then....please initial here Mr. salesman"
            Well, they do have the ability to redo a credit check but I don't see that they can actually DO anything material as a result of performing the check or have I missed something in the contract?

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