Reply to Would you buy a house with a solar lease?

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[quote=Anonymous][quote=Anonymous]I don't understand-the SRECs are different from the energy your panels produce? So you basically get reduced electricity and nothing else? Who owns the panels? What happens if they are damaged or the lease ends?[/quote]

SRECs- yes the SRECs go to whoever owns the panels.  In this case Solar Solutions paid for the installation and owns the panels, and signed a lease with the current homeowner to lease the roof space for the panels.  They then get the SRECs- it's an investment, they probably get the original investment paid back within 6-7 years (including the federal 30% installation credit), and after that its how they earn % on the investment.  SRECs have outsized value in DC because of how the local requirements work.

The panels tie into the electrical box/system of the house and walk the electric meter back 1kWh for every kWh produced.  In the spring they can sometimes out-produce the home electricity usage. That benefit accrues to the homeowner and it's the incentive that was used to sell the original lease.

The panel owner has to repair the panels and pay for any roof repairs needed if the panels cause any damage.

Normally after the lease ends the panels become part of the house property, but usually they have a 15-20 year life, so would probably be replaced at that point.  The inverter would also probably be at end of life.  The lease probably requires the panel owner to remove them at lease end if asked. [/quote]

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