There are three major advantages to renting the system:
Financial: Our system does not need to be purchased. So the customer has no capital costs, no installation costs, and no investment risk.
Operation and maintenance: In a traditional installation, the owner is responsible for operating and maintaining the Solar electricity or photovoltaics (PV) system. Usually this requires the customer to purchase a separate monitoring system and/or rely on their own resources if the system fails to perform. If the system breaks down, the owner will most likely need to call for service. The performance of the system will be monitored on a daily basis to determine whether performance is optimum. If it is not, a work order to repair the system will be issued immediately at no cost to the customer.
"Peace of mind”: Our system is a performance-based rental. If the system temporarily stops working, the customer stops paying for it until the system comes back on-line. In the case of the traditional installation, the customer continues paying for the system, even if the system stops working.
How does renting benefit the customer more than purchasing?
Customers have no investment risk. PV technology is continuing to advance at a rapid rate. Renting the system effectively shields the customer from the risk if disruptive technologies drop the price or otherwise change the marketplace. This is all made possible by our flexible termination options and our low termination penalty. As long as the customer remains cooperative, the fee for early termination will only be the security deposit The deposit (from $500 - $1000, depending on the size of the system) paid by customer when they sign off on the engineer's plan for their system just before installation..
Customers get hassle-free installation, guaranteed performance, and quality maintenance. If the customer was to purchase a system, he or she would bear these responsibilities or would have to pay someone else to take on the responsibility.
To give you an example. I estimated purchasing a solar system for my home using the excellent calculator at
http://www.findsolar.com. For the solar system to cover 100% of my electric charges the total system cost would be $207,000. I would get a rebate from the state of $112,500 and a state tax credit of $10,500. I would also get a federal tax credit of $2,000. I would have to pay a total of $84,940 out of pocket expenses. If I took a 30 year home equity loan at 6.5% I would have a monthly payment of between $530 and $600 depending on how much closing costs I would have to pay. To rent the system, I estimated a monthly payment of between $180 and $210 per month with a 25 year contract. At the end of the 25 year contract, I could have the old system removed and have a new system installed with another 25 year contract. If I bought the system, I would also have to pay for any repairs and maintenance and by the time it was paid off it would be getting close to the end of its life and I would have to purchase another system. Financially, I would save almost $400 per month throught the life of the contract.
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