1) SolarCity will own the system and any associated credits, rebates, etc.
2) System: 7.920 kW DC (STC) photovoltaic (6.91 kW AC) with 1 inverter and approximately 33 panels flush mounted on one south-facing roof, 40-degree pitch, in Plano, TX
3) I must pay $11,362.20 total in about 2½ months or so. (Half is due upon installation, and half is due upon inspection.) I will have no other payments to SolarCity for the next 20 years.
4) SolarCity guarantees solar production throughout the 20-year term. 10,213 kWh is guaranteed in year 1, and this level gets reduced by 0.5% annually, all the way down to 9,285 kWh in year 20.
5) SolarCity will annually pay me for any cumulative shortfall, at a rate of $0.0554 per kWh.
6) If the system overproduces, I benefit from the 'free' energy.
7) TXU will credit any surplus solar generation beyond what I use. (Current rate is $0.075 per kWh.)
8) For the 20-year duration, I must provide a continuous high-speed Internet connection.
9) For the 20-year duration, I should hose the panels off as needed. (Bird crap mostly, I suppose.)
10) After the 20-year term I can renew, upgrade, or get 'free' removal.
11) SolarCity is full service and will take care of every step of the installation process.
12) SolarCity uses only the highest quality solar panels, equipment and hardware.
13) SolarCity uses panels that are sleek and attractive and feature a low profile aesthetic.
14) SolarGuard monitoring service is included.
15) REMOVED -MIB 2/5/2013
16) Extended Warranty & Repair Service on system and roof is included.
17) Insurance Coverage is included.
18) I can get $400 for any friend referrals. Put down 'Michael Barth', and I'll split it with you!
19) And for the August promotion, I get a 16GB "New iPad" approximately 2 months after installation.
Here is some additional info pulled from the Q&A in my prior thread:
A) My lease states: "SolarCity agrees to ...create a priority stream of operation and maintenance payments to provide enough cash flow in our financing transactions to pay for the Limited Warranty obligations and the repair and maintenance of the System in accordance with this Lease even if SolarCity ceases to operate."
B) A SolarCity energy consultant emailed me: "The equipment would not be used as any kind of collateral on a loan."
C) I expect that the inverter will need to be replaced, at SolarCity’s expense, at some point during the 20-year term.
D) SolarCity's BBB rating is currently 'A', with 25 complaints in the last 3 years, of which only 4 were not resolved to customer's satisfaction. Considering SolarCity's size, this seems pretty good to me!
Also, here is some additional info from the October 10, 2012 system design specs:
- Modules: (33) TRINA SOLAR # TSM-240PA05
- Mounting System: SC BIGFOOT – 1 LAG – DOWNSLOPE
- Inverter: (1) SMA # SUNNY BOY 7000–US