Leases are offered by financing providers such as Spruce Finance, One Roof Energy, SunPower, SunRun and Sunnova as a way for homeowners to enjoy the benefits of going solar, without having to worry about the upfront cost, or the operations and maintenance issues associated with solar ownership.
In a lease the homeowner may make an upfront payment, and then will have a monthly payment for the duration of the lease agreement. Since in a lease the homeowner does not own the system, the input parameters are limited. Here is how to model it:
- Go to the Database section of your account and select Financing Products.
- Click Add Financing Product. Give your product a descriptive name and click Create.
- Click Edit to designate the financing product for Residential or Commercial and change the Financing Type to Lease. Click Save.
- Input the Upfront Payment (if applicable), the Monthly Payment, and the Escalation Rate. We highly recommend that you lock fields that will not change between different designs. This will save your team time and reduce errors.
To learn more about modeling leases please review this video: Creating Financing Products.