# SolarLease from the SolarCity



## Boris (Nov 18, 2010)

I like these ideas: 
- âA SolarLease can be a better investment than purchasing your system with cash because you do not have a big upfront payment and can save your money for other opportunities. You save money every month on electricity bills so you can be cash flow positive from day one. In addition, you do not have to worry about unexpected repair costs because they are covered under a SolarLease.â
- "...In the unlikely event that your system underperforms, SolarCity will alert you and help to remedy the situation. We will send out a repair crew for free warrantee repairs over the life of the lease. This includes replacing a worn out part such as the inverter. The good news is that solar panels typically last up to 30 years or longer, and have few moving parts. So once systems are installed, they require little ongoing maintenance."
- and more...

Note: âTo qualify for financing, you need to have excellent credit (a FICO score of 700 or greater).â
From: http://www.solarcity.com/residential/solar-lease.aspx

Boris


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## wy_white_wolf (Oct 14, 2004)

Just like leasing a car. Some will come out ahead with the lease while others it's not the best deal. I personally wouldn't consider one.




> Pros:
> 
> 1.Easy access to solar without high initial costs.
> 2.With growing energy costs, this caps your electric bill for the next 15 years.
> ...


http://sanjosegreenhome.com/2010/01...solar-lease-sweet-deal-or-disastrous-rip-off/

Here's another good one explaining the cons of solar leasing

http://www.solarleasedisadvantages.com/


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## Boris (Nov 18, 2010)

wy_white_wolf said:


> Just like leasing a car...


I think your statement is not completely correct, because very often (at least in my area) a leasing customer have to put a sufficient down payment on the lease of a new car versus a "$0 Down" in SolarCity terms.

In addition (because I believe in Google): "SolarCity has partnered with Google to offer affordable solar power to homeowners by creating the nation's largest residential solar financing fund." From:http://www.solarcity.com/residential/google-residential-solar-fund.aspx?zip=12740&bill=90&own=1

Boris


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## Jim-mi (May 15, 2002)

Big thank you WWW for those EXCELLENT links . . . . . . .

They say it all.....................

BUYER BEWARE..........


Awhile back one of our farmer friends from Canada posted about **The company** would even build a building for *you* to use with their solar panels on top of it........
(park your tractor and a bunch of hay under this building)

Can you imagine that added into the lease cost . . ????


There just ain't NO free lunch......................


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## Boris (Nov 18, 2010)

Jim-mi said:


> ...
> There just ain't NO free lunch......................


Once again, I believe in Google.

"Google has created a $75 million fund with Clean Power Finance, a company that offers financing for residential solar panel installations.
The investment will enable *10,000 homeowner*s to install solar panels on their homes.
The upfront cost is the largest obstacle to installing residential solar panels, and solar installation companies don't always have the means to offer financing. Clean Power Finance seeks to overcome that hurdle by offering installers a way to provide financing to potential customers, while also giving companies without ties to the solar community a way to invest in the industry.
*Google, the investor in this case, will technically own the solar panels, while the maintenance and upkeep responsibility of the solar panels stays with the installer and Clean Power Finance. The homeowners, who are essentially giving roof space in exchange for a chance to buy solar-generated electricity, will pay a monthly fee. Google's return on investment comes via the electricity that is generated by the solar panels and sold to customers.*
The big advantage of residential solar to the community at large is consumption at the source. Because much of solar electricity is consumed close to where it's generated, residential solar panels reduce the inevitable waste in electricity and money that happens when current must be transported via transmission lines from distant power plants.
"It greens our energy mix by using existing roof space while avoiding transmission constraints, and it can be cheaper than drawing electricity from the traditional grid," Rick Needham, Google's director of green business operations, pointed out in the company's green blog.
A solar proponent for quite some time, Google made headlines in 2007 when it installed 1.6 megawatts worth of solar panels at its Mountain View, Calif., headquarters. Google proudly touted at the time that within four days its panels had generated enough electricity to power 251,073 hours of television viewing. Google has also been developing its own solar technology, and it's an investor in solar companies eSolar and BrightSource. Google has invested a total of $850 million in clean-energy related projects."
From:http://news.cnet.com/8301-11128_3-20112778-54/google-rent-your-solar-panels-from-us/

Boris


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## TnAndy (Sep 15, 2005)

About the only time leasing makes sense is if you do it for business purposes, to retain capital you would have shelled out on a large expenditure, AND you can fully deduct the cost of the lease payments as a business expense.

I've never seen a case where the numbers actually work in the case of an individual.....and until someone can show me the numbers in the case of solar leases, I'm going with that same response.

Lot of individuals lease cars....mostly, I suspect because they can't afford to buy one, and the rest simply like that new car smell every 3-4 years.....and are blissfully ignorant of the true cost.


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## nadja (May 22, 2011)

TnAndy said:


> About the only time leasing makes sense is if you do it for business purposes, to retain capital you would have shelled out on a large expenditure, AND you can fully deduct the cost of the lease payments as a business expense.
> 
> I've never seen a case where the numbers actually work in the case of an individual.....and until someone can show me the numbers in the case of solar leases, I'm going with that same response.
> 
> Lot of individuals lease cars....mostly, I suspect because they can't afford to buy one, and the rest simply like that new car smell every 3-4 years.....and are blissfully ignorant of the true cost.


Andy, you are 100% correct..... as usual:happy:


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## nadja (May 22, 2011)

Another bad thing that just poped into my mind, is that if you have to reroof your house in the future, who pays to remove the solar panels and then after re roofing put them back on ? Bet that would be an added expense for the person doing the leasing.


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## Boris (Nov 18, 2010)

TnAndy said:


> ...I've never seen a case where the numbers actually work in the case of an individual.....and until someone can show me the numbers in the case of solar leases, I'm going with that same response...


"A SolarLease can be a better investment than purchasing your system with cash because you do not have a big upfront payment and can save your money for other opportunities. You save money every month on electricity bills so *you can be cash flow positive from day one.* In addition, *you do not have to worry about unexpected repair costs because they are covered under a SolarLease."*










You can get a very reasonable Lease deal if you have &#8220;a FICO score of 700 or greater&#8221;, otherwise this deal is not for you.

&#8220;The SolarCity/Google fund will extend solar lease (SolarLeaseÂ®) and power purchase agreement (SolarPPA&#8482 options to customers who desire to have solar panels installed on their homes, but do not wish to make the larger upfront investment to purchase the systems. SolarCity serves Arizona, California, Colorado, the District of Columbia, Maryland, Massachusetts, New York, New Jersey, Pennsylvania and Texas, and has more than 15,000 solar projects completed or underway. More than *12,000* of those customers have chosen SolarCity&#8217;s financing options, while *3,000* have purchased their systems&#8221; (June 14, 2011)

I think the above mentioned proportion (12,000 to 3,000) shows what real customers prefer.

Boris


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## ace admirer (Oct 5, 2005)

When my neighbor does it and proves to me that it works, i'll think about it.


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## Bluesgal (Jun 17, 2011)

OK, here's what turned my walking away to running away from this.... 

Due to the nature of the inverter that is installed (for safety requirements), the solar city system will not provide power in the event the grid goes down.... 

so grid down.. no power, even with a roof covered with panels.....


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## Jim-mi (May 15, 2002)

Bluesgal . that just the way it is with a strickly "grid tied" No battery backup system.

No grid . .No workey

Thats why I prefer and argue for a battery back up system.
Thousands of bucks of equipment that does not work when you really need it (grid down)


Boris seems like your mind is already made up . . . .Let us know in a couple years how your doing............
Post a pix of your bandit banker shaking your hand............

Giggle is NOT our friend . . . they were one of the supporters for SOPA. And they are already doing their own sensoring . . .you need to check into what they are doing . . and their association with the CIA . . . . . .

Giggle had to do something with their massive profits . . . .thats the reason they made a big splash with that big PV system......


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## TnAndy (Sep 15, 2005)

Nothing to do with safety.....everything to do with cost. 

You can grid tie with, or without the ability to produce your own power in a grid down situation.....ALL grid tie inverters disconnect from the grid if the grid is down to meet UL1741 standard.

Grid tie with battery backup is about 50% more expensive than plain jane grid tie.....more components, more wiring, batteries, etc. You don't put in one of these if cost/payback is an issue.....you put one in if having power is your main concern.


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## TnAndy (Sep 15, 2005)

Boris said:


> "A SolarLease can be a better investment than purchasing your system with cash because you do not have a big upfront payment and can save your money for other opportunities. You save money every month on electricity bills so *you can be cash flow positive from day one.* In addition, *you do not have to worry about unexpected repair costs because they are covered under a SolarLease."*



Easy to copy and paste something, and if I were selling leases, that would be my pitch as well.... but that doesn't make it so.

Post actual figures, including local power costs, and so on.....rather than simply parroting Giggle's sales brochure. 

The devil is always in the details.


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## Boris (Nov 18, 2010)

Jim-mi said:


> ...Boris seems like your mind is already made up . . . .Let us know in a couple years how your doing...



Personally, I like SolarCity Offer, because it backed (financially supported) by Google. * I'm not ready to go to other Lease deal without Google involvement!* 
Therefore I've chosen SolarCity and I was ready to get this Lease deal. But unfortunately yesterday I received this e-mail. You can see the screen copy below. 

I hope I will see Solar City in my area soon, like they promised: &#8220;next 6-12 months&#8221;. And I definitely will inform forum members about my experience with SolarCity.

Boris


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## Tobster (Feb 24, 2009)

If I wanted to finance a solar system, I would use a home equity loan, not a lease contract. Personally, the advantage of shopping from the many different equipment providers in order to get the best deal is what appeals to me. Perhaps SolarCity has the best deal on equipment and installation I don't know, but I would certainly do my homework, shop around to make sure.

As far as 'free' warranty repairs and unexpected repair costs being covered under the lease . . . I am sure that is the case and I am also sure the cost for such repairs to SolarCity is factored in the upfront cost to the purchaser. Nothing wrong with that, but nothing is free, at least nothing of value is free. 

I realize for some that a turnkey operation is preferred. Buying a system ready to go from a contractor, they finance, install and maintain the system, easy for the buyer and costs is secondary.

Good luck Boris, your deal may indeed end up with a grand slam home run, I hope so. Let us know AND do include pictures and thanks for sharing.


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## Jim-mi (May 15, 2002)

It really concerns me that some one would have a infatuation with a very unfriendy monster *company*....................?!?!

Since this is not the 'political' forum I can not get into the problems with the monster nasty giggle corp...................
If you only knew, you would have NO dealings with them..........
Their bottom line is **profit** and to pass your info on to the CIA.


Yes, until I learn how to do other wise, I still use giggle for 'searches' . . . .But I'm not a happy camper with their building a *file* on me...........


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## Boris (Nov 18, 2010)

Tobster said:


> ... thanks for sharing.


I hope the details posted here: http://www.nrel.gov/docs/fy09osti/43572.pdf
are useful too.

Boris
www.borisromanov.com


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## mnn2501 (Apr 2, 2008)

I know this is a 2 year old thread, but......
I've just heard of Solar City and started researching.
Looks like you can lease or purchase. I'm interested in the lease.
They've added a battery backup for use when the grid is down.

I like what I see so far, but I really want to know about selling your house if you are on the lease program as we plan on moving when we retire in 10 years.

And do you really save money? My electric bill is close to $400 in the hot Texas summer but winter time drops down to $120-180 - Its Texas, electricity is not cheap and we do use a lot.

Anyone with them yet?


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