The PowerPair Solar Lease
One of the biggest concerns for homeowners is having power when they need it most. Our lease includes a battery storage system with approximately 11kWh of backup power to 13.5kWh/AC of storage capacity giving you peace of mind during power outages.
What is Solar Leasing?
What is a solar lease?
A solar lease allows EnerWealth to purchase, install, own, and maintain a solar photovoltaic system on your property which will be connected to Duke Energy’s meter. The energy produced by the system will reduce your power consumption which means your bill will also be lower from Duke Energy. You will make monthly payments to us for the lease term, and these payments are designed to save you at least 10% on your electric bill. Since we own the solar system, you are not responsible for maintenance or operation and you are not eligible for the Investment Tax Credit. However, you may be eligible for an additional monthly incentive payment from Duke Energy because our systems include energy storage.
What are the benefits of a solar lease?
EnerWealth’s solar lease does not require a large upfront payment, and is designed to save you at least 10% on your electric bill. We also include a battery to increase your energy resilience and ensure power during a grid outage. Producing clean energy on your roof is great for you, the environment, and your budget!
How long is a solar lease and what happens at the end of a term?
The PowerPair solar lease lasts for 25 years. At the end of the lease, you can purchase the system at a relatively low cost, enter a new lease, or have the system removed from your roof at no cost to you. During the lease term, you agree not to damage the equipment and provide EnerWealth access for repairs.
How does the tax credit work with a solar lease?
In a solar lease, the lessor (EnerWealth) receives the tax credit.
How is a lease different than a loan?
With a loan, you own the system immediately and can claim the tax credit. You are responsible for operating and maintaining the system. With a solar lease, EnerWealth handles the operations and maintenance, and claims the tax credits since they own the system.
What happens if I sell my home?
The lease can be transferred to a new homeowner (subject to conditions in the lease), or you can terminate the lease and increase the purchase price of the house to cover lease balance.
How do I qualify?
You must be a homeowner with proof of income, such as a recent paystub. Some houses will have conditions that may disqualify you from obtaining a lease with EnerWealth, such as an aged roof or lots of trees that limit solar production.
Solar Leasing Made Simple.
Your Power, Your Choice