SunPower Lease Program
Effective Date: September 20, 2019
By using our Site and selecting the “Lease” option on our “ORDER NOW” page, you acknowledge that you have read and agree to the following terms:
Leased solar systems with SAVKAT are only available to customers who own their home and use it as a primary residence.
If you decide to Lease your solar system, as an Elite SunPower dealer SAVKAT offers a leasing program through SunPower. You will need to complete the required credit check, sent to you upon deposit payment submission.
Just because you select the lease option on our “ORDER NOW” page does not mean that you qualify for a SunPower Lease with SAVKAT. If your residential solar project is not viable, your deposit will be refunded in full.
Within 3 days of submitting your deposit, qualifying customers will sign a SunPower Lease Contract for the solar system monthly cost.
SunPower Lease Options:
- 20 Year ‐ monthly payments escalating at 2% every year
- 20 Year ‐ fixed monthly payments
The cost represented in our “ORDER NOW” page is modeled after the fixed lease program and includes all applicable local incentives and rebates.
With a SunPower Lease program, SunPower owns the system on your roof. You pay a monthly amount to “rent” the system and use the energy you produce for the term of 20 years. For many customers, their lease and remaining utility bill are lower than their previous electric bill. SunPower guarentees the System production for 20 years. If something breaks, they fix it. When you sell your home, you can assign the lease to the new homeowner, subject to credit approval. SunPower facilitates this process.
What does SunPower do?
- Ensures the System, and arranges for its repair and maintenance (including the inverter) at no additional cost to you as specified in the Lease.
- Provides a Production Guarantee and Limited Warranty, as specified in the Lease. They do not guarantee savings though, estimates are based on the bill assumptions you provide to us.
- Provides 24/7 web-enabled monitoring at no additional cost to you, as specified in the Lease.
- Assigns to you a warranty of your roof, against leaks within three inches of mounting penetrations, as specified in the Lease.
What are your transfer choices during the 20-year term?
- If you move, you may transfer this Lease to the purchaser of your Home, subject to SunPower approval, as specified in the Lease.
- If you move, you may purchase the System for an amount equal to the Remaining Value Amount (as defined in the Lease), plus all payments that are specified in the Lease.
What are your choices at the end of the 20-year term?
- The System will be removed at no additional cost to you.
- You may request an extension of the term of the Lease on prevailing market terms, as specified in the Lease.
- Otherwise, the Lease will automatically renew, unless you are notified otherwise (which we will have the right to do in our sole discretion) and continue on a month-to-month basis, at a monthly rent equal to the last applicable Monthly Payment during the Lease Term (or, in the event rent was fully prepaid, in an amount provided by us). These terms are also in the lease agreement.