Sun Run PV leasing

[icarus]

Has anyone had any experience with Sun Run Inc. http://www.sunrunhome.com/ and their leasing program? I have relatives in Mass. and they bought into the CitizenRe scam. SunRun is now advertising in Mass.

Is SunRun a more legit operation,,, it seems that they have done some "real" installs.

Tony

[niel]

fool me once shame on you. fool me twice shame on me. if you know that they scammed in the past then don't deal with them at all. a few legit installs could be a ploy to reel in more and the workmanship quality would also come into question on the ones they may do if they decided to. your call as i don't know of their practices as you do.

[mike95490]

Why rent, when you can own, and payback in 10 years or so?

[icarus]

Mike,

The answer to "why rent when you can own?" question is one of capital and capital cost. Some folks are scared away with the idea of putting up so much money, or they can't raise it for a variety of reasons. It seems to me a reasonable alternative.

To Niel's question, I'm note sure what you are saying. I think that the jury is no longer out RE: CitizenRe. It is clear that it is a non-starter. What I am asking with no evidence one way or another if it is legit or a scam. (My relatives didn't buy a system,, because there was nothing to buy,, what I meant was they "bought into" the concept of leasing PV). So I am looking to see if anyone knows anything about them first hand.

Tony

[niel]

tony,
sorry i misunderstood what you were saying about them. another gauge may be how much hype the company throws out there. a good company doesn't need hype. personally, i was never sold on the idea of renting or leasing solar. they should go for buying it and try for a loan as many states offer loans for re even if there's no grants or rebates available, which i believe their state does have rebates. they will most likely have to pay more in property taxes to have rented or leased pvs on their home and if one's going to pay taxes on that improvement, then one should be the owner of it in the first place. so if they go for that lease then who do they call if there's trouble and there's little legal recourse available to you that would give prompt results. far too many ifs, ands, or buts so try for ownership imo.

[Solar Guppy]

If one is scared about the capital costs, they should be petrified on the thought of signing a 20-25 year contract that puts the home owner on the hook to make the payments forever

Leasing is NEVER a good idea, it always cost more and have no benefits what so ever for PV ... if some other company is willing to buy, build,install a system, they want profit for there investment ...

What happens in 4 years and you want to move and new home-owner say no to taking over the lease? think time-share for a comparison from what the deal is worth and how long you are stuck once you sign the contract ...

[icarus]

Hey guys,

I'm not hyping this thing,, as they say I have no dog in this fight,, but I do think that there are those that might make the solar leap if they could lease, and so there may be a place. My question is whether or not this is a legit company.

As for the details. I was alerted to them by a recent article in the Boston Globe. Here are the simple details. You pay a $1000 up front fee for an install. You sign a contract of 18 years,, locking the electrical rate for that time frame. If you sell your house, the lease is transferable,, or you can buy it out. I think I read you can move it to another location for a fee.

I do understand that these guys are in this to make a profit. Question is at some level understanding that leasing is not great financial deal,, does it make any sense to lease (assuming this is legit) due to the reduced upfront capital cost?

I agree that it probably doesn't make much sense for most,,, the question is does it make sense for any,,, and is this a legit company?

[niel]

legit company or not, the answer is, no, it's not a good thing to do imho. btw, legit companies can steal and do wrongs too. good companies is another point and i can't say they are or are not a good company even though i would lean negatively.
this time you misunderstood me as i never implied you are hyping, but i was referencing any company's business practices, as a bad one makes bad claims or stretches the truth like we've seen some doing with claims of the government paying for all of it while it allows your meter to run backwards.

[jon k]

hello, i had the phone call from sun run today. lots of people in this group seem against this idea of leasing the panels. I guess my question is this. I dont have the $13,000 to 30,000 for this panels, so its either lease or nothing. why would nothing be better?

Some one talked about having a bill for 18 years, if i do nothing i still have that bill.

i really am intested in this program. i know nothing about solar . any help would be great.

thank you

jon

[BB.]

The 3rd choice is spending on conservation...

You spend the money on leasing for 18 years and the system does not add any value to your home or reduce other energy bills (heating oil, natural gas, etc.).

Spending on conservation usually has a better rate of return on your money, and can add to the value of your home (around 50% of the money spent on insulation, new appliances, etc. can increase the sales price of your home--and make it nice to live in now; less drafts, less noise, etc.).

In the end, we don't know your home, how energy efficient it is at this time, or your personal life style.

Solar Grid Tied systems rarely save money (tax rebates certainly help) and if you have heavy tierring of electrical rates (for example, in Northern California we can pay between $0.09 and $0.60-$0.75 per kWhr, depending on rate plan, energy use, seasons, and residential vs commercial).

Don't fall in love with solar PV electric systems. Look at it as an investment and only if it does something for you -- think about installing.

Leasing, usually, only makes sense for corporations that are trying to alocate tax issues and take advantages of certain transactions.

These rarely will help a home owner--and being on the hook for 18 years in one home (with penalties if you end the lease early?) is certainly a commitment that many people should not make.

-Bill