Transferring a solar lease can pose difficulties for several parties.
Problem for solar owner (Investor): Continuity of payments for improved return on assets. Ensuring a smooth transfer of remaining lease payments requires a high level of customer interaction and knowledgeable personnel who can guide the new customer through the transaction in a way that is helpful and informative to all parties involved (seller, buyer, solar asset owner).
Problem for home seller: The homeowner signed a 15 year lease agreement with a reputable solar leasing company and they’ve enjoyed the solar savings to this point, but they have decided to put their house on the market. They want the new owner to take over the solar lease payments when the house is sold.
Problem for home buyer: The buyer was excited about the prospect of owning a home with solar power, but like any diligent buyer, she wanted trustworthy third-party verification that the solar system worked properly. Prior to acquiring the house and taking over the lease payments, the buyer wanted to fully understand the equipment, the monitoring process and the basics of the lease contract.
Solar O+M met with the buyer. The team walked her through the functions and equipment of the solar system. They also provided helpful materials detailing the historical production benefits of the system. After the purchase, Solar O+M guided the buyer through a simple and timely lease transfer using our meticulously prepared and streamlined transfer system.
The new homeowner was able to learn about the benefits of solar, and she took over the existing solar lease. As a result, the homeowner understands her system and can be confident in the continued performance of her solar system.
The process of transferring a solar lease from my home's previous owner to me was easy with Solar O+M. The technician was kind enough to meet me at my house to guide me through the paperwork and teach me about the equipment. All communication I've had with Solar O+M since then has been timely and pleasant - I'm extremely satisfied with their service.