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PR: Pre-Pay & Purchase Options

Updated over a week ago

LightReach Energy Plans feature options to both pre-pay or purchase. Each option has a few simple parameters associated, giving flexibility and optionality to homeowners.

Option

Details

A

Purchase

Options:

  • Ideal for homeowners who want to maximize potential long term savings

  • Option 1: Customers can inquire about purchasing the system by writing to our customer support team upon the 5th anniversary of the interconnection date or anytime after the 5th anniversary of the interconnection date (IE Year 6) with 60 day notice

  • Option 2: If you sell the Home during the Lease Term

  • Option 3: At the end of the 25 year term

  • Homeowner must deliver a written notice to Palmetto Solar, LLC of the intent to purchase within sixty (60) days of the applicable date and deliver payment to Palmetto Solar, LLC within thirty (30) days of receiving an invoice from Palmetto Solar, LLC for the purchase price. Inquiries can be submitted to [email protected]

Details:

  • The system will be assessed at Fair market value by a third-party appraiser

  • Upon purchasing the system, the homeowner will assume responsibility for any future system repairs/maintenance.

B

Pre-Pay

Option 1: Available anytime after activation

  • Ideal for homeowners who prefer to eliminate monthly payments, but still want to maintain the extended protect coverage for the full term

  • Prepayment of full/total Energy Plan payments (typically outlined on Exhibit F of contract) less 5% discount offered

C

Transfer

Option 1 (Recommended when a homeowner sells their home to a another party):

  • The new homeowner (buyer) must qualify for an Energy Plan, and must sign a transfer agreement to take over the Energy Plan

Option 2

  • If new homeowner (buyer) does not qualify, the contract holder (seller) may purchase the system (to eliminate monthly payments for the buyer) or they can complete a pre-payment of the remaining PPA contract payments

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