REC Solar, a national enterprise in solar electric system design and installation, is now providing homeowners in Colorado, Arizona and New Jersey access to low to zero money down solar leases and power purchase agreements (PPA) available through Clean Power Finance’s online marketplace. The expanded system financing options enable qualified homeowners to install a solar electric system without paying any money upfront and benefit from clean, reliable energy and a reduced electricity bill.
Customers that enter into a solar lease or PPA enjoy additional benefits beyond low to zero upfront costs. Parties lock in lower-than-utility electricity rates for a 20-to 25-year period and access third-party monitoring of their solar system to ensure generated electricity matches production estimates over the life of the system. All-inclusive insurance coverage is included to protect against damage or theft.
“Low to zero down leases and PPAs extend solar access to a far broader range of homeowners in leading solar states,” said Ethan Miller, General Manager and Vice President of Regional Business at REC Solar. “As innovative financing models drive explosive growth in residential solar, our partnership with Clean Power Finance will help us continue to outpace the market and continue taking solar to the mainstream.”
REC Solar customers that opt into a solar lease or PPA that requires a small upfront payment toward the costs of the system receive an even greater return on utility bill savings over time. For both programs, customers are refunded if the system produces less than what is guaranteed in their contract. All minimal maintenance requirements are managed over the life of the system as well.