I know some people will say to walk away from a house with leased solar, but we are in the Bay Area. This is the only house that has come on the market in months that would meet our needs, and given how much we are paying for the house, the solar lease isn’t necessarily such a big issue.
How do I evaluate how bad the terms of the lease are? I only understand enough about these leases to know that I wouldn’t voluntarily take one on.
They are 5.5 years into a 20-year lease with Sunrun. It started at $63.89 per month, increasing by 2.5% a year (now $72.29). Cost per kWh started at $0.109 and is now $0.127.
It seems like there’s an option to prepay the lease or purchase the panels, both of which are $10,721 at this point. If we purchased them, we’d be responsible for maintenance and removal. The way the contract is worded, it sounds like the seller would have to be the one paying them off, so I’m not clear on how that would work.
I haven’t been able to see their electric bills to see what they’ve saved.
Thanks for your insights!