What are my options at the end of the SolarLease?
SolarLease is a very flexible way to go solar. When your SolarLease ends, you have several good options to choose from:
- You can upgrade to a new system with the latest solar technology under a new SolarLease.
- You can also extend your existing SolarLease in five year increments.
- You can ask Panatec to remove your system for free.
• What if I move to a new home before the end of the SolarLease?
- You can pass on the solar system to the new owners in two ways. The great thing about either of these options is that solar homes typically have a higher resale value, because their lowered electricity costs.
- You can transfer the SolarLease to the new homeowners if they qualify with excellent credit.
- You can also prepay the lease and include it in the asking price.
• Can I decide to buy the system later?
No, but you can renew your lease in five year increments.
• A SolarLease includes full service. What is included?
- Your free SolarGuard monitoring service will alert you and Panatec of any changes in performance. If we see a problem, we will give you call to help diagnose the problem and dispatch a repair team to fix it if needed.
- Every SolarLease and SolarPPA includes an extended warranty on workmanship and hardware through the end of your lease. Panatec will repair or replace broken components at no cost to you. For instance, your inverter will likely need to be replaced around year 12.
- SolarLease and SolarPPA performance is guaranteed. If your system doesn’t produce as much electricity as we promise we will pay you back.
• How does the Performance Guarantee work?
Panatec offers a performance guarantee that your system will produce as much electricity as we promise, or we will pay you back. This takes into account normal weather variation and solar panel performance over time. The amount of electricity we promise to deliver is stated in your contract. We track your system performance through our SolarGuard monitoring service.