Diamond Certified Experts: Caution about Power Purchase Agreements

Diamond Certified Experts: Caution about Power Purchase Agreements

Host, Sarah Rutan: Before signing a power purchase agreement with a solar leasing company, make sure you understand the implications of the fine print. Today we’re in San Jose with Diamond Certified Expert Contributor Jason Lee of Solar System, Inc. to learn more.

Diamond Certified Expert Contributor, Jason Lee: There are many different solar companies, but most of them will offer you at least a so-called “PPA.” Right? The contract is very lengthy. And in the contract, if you sign a contract, there is a 240 payment that you need to make through the leasing company. My advice, before you sign anything in America, is contract. So, you need to consult your attorney for the real meaning of what you’re about to enter. And also, there is a sentence in the contract always, saying, “We will not put lien in your home.”

But if you sign a contract, you’re obligated to pay them 240 payment with a 20-year loan. And you, yourself, just put a lien for 20 years into your home. And you need to know that. And when the time comes when you want to sell your house, you’re going to lose a lot of money. And if you own a system, you will increase the value of your home [00:01:04 unintelligible] decreasing. So, that’s a tip.

Host, Sarah Rutan: To learn more from local, top rated companies, visit our Diamond Certified Expert Reports at experts.diamondcertified.org.

Get Free Surya Mitra Training and start job or business

Get Free Surya Mitra Training and start job or business

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