Leasing a solar system just got a whole lot easier for people interested in saving money, choosing how they power their homes and reducing their environmental footprint. Starting today, the Solar Energy Industries Association (SEIA) is making the SEIA Residential Lease Disclosure form available to all companies to help consumers better understand the terms and costs of their solar leases. The form is also designed to help consumers choose among competitive providers.
“This one form can help millions of homeowners go solar,” said Rhone Resch, SEIA president and CEO. “The SEIA Residential Lease Disclosure form is the knowledgeable best friend everyone wishes they had on those big ticket purchases. By using this tool, solar shoppers can now easily compare competing lease contracts – creating a marketplace of consumers who are both well-informed and confident in their decision to go carbon-free.”
The form was created by a team of senior attorneys from across the solar and housing industries and has been shared widely with consumer groups, federal and state regulators, and others with an interest in ensuring consumers understand how solar transactions work. The disclosure form does not replace a traditional lease, but instead provides a clear snapshot of the important details of a leasing arrangement, increasing consumer awareness of key terms, including costs, warranty terms and solar energy production estimates.
“We applaud SEIA’s prioritization of consumer protection and are confident that the Residential Lease Disclosure form will provide transparency across the solar industry marketplace and drive greater clarity for consumers,” said Seth Weissmann, Executive Vice President, General Counsel and Secretary of SolarCity.
“SEIA has done great work to make going solar a straightforward experience for consumers,” said Nick Mack, general counsel at Spruce Finance Inc. and co-chair of SEIA’s Consumer Protection Committee. “The Residential Lease Disclosure form is the latest tool to help the industry provide a transparent process so our customers can make informed decisions.”
The disclosure form is part of SEIA’s ongoing effort to ensure that the solar industry remains at the forefront of consumer protection. The SEIA Solar Business Code, launched last fall, is the backbone of the industry’s consumer protection efforts. Today’s release of the SEIA Residential Lease Disclosure form increases the transparency and understanding outlined in the code. For more resources, including the newly-updated SEIA Residential Consumer Guide to Solar Power, go to http://www.seia.org/policy/consumer-protection/consumer-protection-customer-resources.