On episode 1 of “The Energy Show”, host Eric Scott sits down with the found and president of Advanced Energy and Solar Solutions, Ron Urban, to uncover the pitfalls of leasing a solar system, how the big companies are creating more costs for the customer, and where the tax incentives are really going.
Residential and commercial owners alike are being approached by big solar corporations to lease systems, but the benefits this renewable energy production has to offer are being wiped out. Ron is telling people to run away. Runaway from these giants and if you truly want your solar system to benefit you or your business then solar companies in NJ offer you the best deals.
When it comes to adding a solar system to your home or business you need to understand what you are getting into. If done correctly, adding this system can reduce your electricity bill to 0, will pay for itself in 5 years or less, and can even become a new source of revenue. That’s money in your pocket every month.
To get these benefits though you must be aware of how to obtain your system. Leases will wipe out these benefits while purchasing the system is the key to profits. Don’t let the sticker price of a purchase shock you for it will save you from the pitfalls of leasing as we discuss below.
The large solar contractors out there today approach customers with the promise of saving them money every month on their electric bill. This part may be true but the lease they hand over for you to sign is one that takes away the rest of the benefits of having a solar system.
Ron explains the lease as a complicated document that the salesmen won’t even answer questions about because they have not been trained or educated on what their system actually provides. Ron knows though. He started out as an electrical contractor and engineer before opening Advanced Energy and Solar Solutions at the turn of the century when solar started making it’s a big move, and has seen first hand what these leases do and don’t provide for a customer.
For starters, any system installed by the larger companies under a lease is owned by those companies. They have taken over your roof and any of the benefits you were supposed to gain from having a renewable energy source. Most leases are 20 years, meaning if you wish to move from your home you now have to sell the lease that is attached to it. This has created nightmares for realtors, and some won’t even be willing to represent you as a seller.