04/06/2016
Anonymous
THINKING OF GETTING A "NO UPFRONT COST" HOME SOLAR SYSTEM - BEWARE!!!!! (PLEASE SHARE)<br /><br />Scenario - you've entered into a 20 year contract for a home solar system (in our case we went with Vivint Solar). 10 years later you decide to sell your house and the new homeowner doesn't want the Vivint Solar system. What now????? What we were told by the salesperson (Tad) was that Vivint would uninstall the system with no further obligation to us!!!! NOT TRUE<br /><br />What I found out: In this scenario we would be charged a prorated price to buyout the contract (price of the system). Now I could have installed the system and paid for it myself for about $25K; back out the tax credits and the costs would have even been less. However we didn't want to put this money out to buy the system our selves. Below is the price chart from Vivint Solar to buyout the contract. As you can see in this scenario the cost at year 10 would be $32,379.69 to us!!!!! Before signing any contract with a "No Cost" Solar company such as Vivint Solar - ask for the depreciation buyout cost since most of us won't be in our house for the life of the contract. (I know - shame on me for not reading the contract and taking the word of a salesperson like this!!!)