How can the SunCap Lease help me save on my utility bill?
Utility costs continue to increase steadily.  Naturally, utilities will pass these costs on to consumers.  A solar system allows you to lock in a portion of your energy prices today and watch your savings grow over time.

 

What is the difference between leasing and buying solar?
Leasing eliminates the hassles of ownership by covering all installation and equipment servicing costs, warranties, and guarantees an annual energy generation for the entire term of the lease. With little to no down payment options, the SunCap lease brought to you by Aztec Solar offers low monthly payments to free up household operating capital for other needs. 

 

How does the lease work?
The lease will be provided by NRG SunCap Financial LLC. Homeowners begin by working with Aztec Solar who will provide a turn-key design and installation of the home solar system. Aztec Solar will produce a lease proposal based on the total price of the system, available solar incentives and Homeowner qualifications. Upon Homeowner credit approval and acceptance of the SunCap Lease, Aztec Solar completes the system installation and is paid directly by SunCap.  The Homeowner either makes a single prepaid lease payment or begins making affordable, fixed monthly lease payments and is provided installation insurance, a system warranty and a Power Production Guarantee.

 

What options do I have at the end of my lease?
When the term of your lease is up, you can renew your lease, purchase your existing solar system or request to have your system removed at no cost.  If neither SunCap nor the Homeowner request to remove the Solar System, then at the end of the 90-day period, you shall become the owner of the Solar System conveyed to you “as is, where is”, to the extent not prohibited by the applicable state law. The choice is yours.

 

Can I install it myself and save on the cost?
No. The SunCap Lease is only offered to residential Homeowners through Aztec Solar. SunCap relies on us to ensure the quality of the leased solar installations and to ensure systems qualify for local incentives.

 

Will I receive the tax credits or rebates?
No.  All tax credits and rebates are assigned to NRG SunCap, but your monthly payments or prepayment price reflect these incentives. 

 

Can I claim the lease payments as an expense on my income taxes?
Please ask your accountant.

 

What about hidden costs?
There are no hidden costs associated with your lease.  We provide a straightforward alternative to the traditional method of purchasing residential solar power systems.  Your solar consultant can go over the specific options and costs that are right for you.

 

Who provides my solar lease?
SunCap LLC provides a residential solar lease through Aztec Solar. SunCap LLC is wholly owned by NRG Energy, a Fortune 500 company that owns and operates one of the country’s largest non-utility power generation businesses.

 

How will I know if the system is producing power and how much power it is producing?
The SunCap Lease includes our Smart Monitoring System that enables the Homeowner to observe the amount of energy generated by the solar array in real-time as well as historical production data.  SunCap also monitors this information and, if there is an issue, they will contact you.

 

What is a Power Production Guarantee?
SunCap ensures all solar installations are working properly by sending the system's power production data over the internet using the Smart Monitoring System. This is how SunCap guarantees the system's performance at no charge to the Homeowner.

 

What is a money-back Power Production Guarantee?
The Production Guarantee promises that if the system does not produce the minimum amount of kilowatts predicted, SunCap will pay you for the difference.  And if your system produces more kilowatts than promised, the power is yours at no additional cost.

 

What happens if the power production does not meet the guarantee?
System performance will be evaluated on an annual basis. If the annual performance does not meet the guaranteed performance, a Homeowner will either be credited against payments owed or sent a check from SunCap Financial for the Performance Credit as defined in the Limited Warranty.

 

Is there a warrant on the solar panels if the manufacturer goes out of business?
Yes. Your solar panels will be warranted for the entire term of the lease, and SunCap will provide an option for you in the event that situation occurs.

 

What happens if I prepay my lease or overpay my monthly payments?
There is no penalty to prepay the remaining portion of your lease or overpay your monthly payments.

 

What happens to my solar lease if I decide to sell my home?
If you sell your home, you can easily transfer the solar lease to the next Homeowner, but if you prefer, you can prepay your remaining lease payments. If you sell your home, the new Homeowner must pass credit qualifications to assume lease.

 

Need more information? Contact us by phone on (916) 853-2700 or send us a message