US Power, a factory-direct Qcells solar and roofing brokerage, has added the EnFin Solar Lease to its financing options.
EnFin is Qcells’ in-house solar and storage financing provider. Under the lease, EnFin owns the system and the homeowner pays a set monthly rate for the electricity it produces.
No deposit or upfront payment is required, and the first payment is due 30 days after the system is placed in service. Lease agreements run 25 years and carry a 0%, 2.99%, or 3.5% annual escalator, which is disclosed at signing.
EnFin monitors each system through a third-party partner, Omnidian, which dispatches a technician if remote troubleshooting doesn’t resolve a problem. Repairs are covered at no extra cost for the full term, whether or not the equipment is under warranty.
“The lease is for the homeowner who wants the monthly savings without writing a check on day one,” said Erik Sords, Senior Energy Consultant at US Power, in a statement. “We make sure people understand what they’re trading for that. EnFin keeps the tax credit since they own the system, so there are no surprises later.”
At the end of the term, homeowners can buy out the system, renew the agreement, or have EnFin remove it for free. Because EnFin retains ownership, it also keeps the federal and state tax credits and incentives, which US Power says it explains to every customer alongside its loan and cash-purchase options.
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