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Generator: Program Overview

Overview

Palmetto is expanding our product line to include standby generator lease financing. The generator lease fills a clear market gap: a $15,000 - $20,000+ standby generator system is cost-prohibitive for many homeowners, and today there is no subscription-style financing product that bundles installation, full warranty protection, and maintenance into a single predictable monthly payment. Palmetto’s Comfort Plan is purpose-built for exactly this structure.

Terms & Program Structure

  • 680 FICO Score base.

    • Soft Credit Pull and No Debt-to-Income (DTI) constraints.

    • See our credit parameters article for more details
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  • Lease term: 10 and 12-year

  • Monthly payment: Fixed, all-in

    • Options for 0%, 0.99%, 1.99% annual escalators

What's included for Full Lease Term:

  • Installation

  • Full parts coverage for 10 years

  • Service & repair labor

  • Annual preventative maintenance and maintenance parts

  • Remote monitoring access (Mobile Link / Generac equivalent)

Customer Experience

Homeowners want affordable monthly payment options for standby generators, and EPCs want a clean, fast path to sell and finance them.

Generac dealers, solar installers looking to bundle backup power, and customers who want a generator but cannot pay cash upfront have no LightReach path. Those customers either don't get the product, pay out of pocket, or go to a competitor.

For Homeowners:

  • Simple monthly payment: no large upfront cost

  • No surprise repair or maintenance expenses for 10 years

  • Installation and service handled by trusted local partners

  • Annual preventative maintenance proactively scheduled

  • Remote monitoring visibility (Mobile Link)

  • Easy, tech-enabled order and ownership experience via Palmetto’s consumer app

For Dealer Sales Reps:

  • Quote and sell through the Palmetto portal Key system design inputs at point of sale:

    • Manufacturer, Model (optional), Size/Power rating (kW), Fuel type, Full system price

  • Full system price converts automatically to lease monthly payment

    • Warranty costs and monitoring automatically included.

  • Qualifications and Notice to Proceed (NTP) managed through Palmetto portal

Pricing

The Palmetto Comfort Plan is designed to make geothermal more accessible by converting the total project cost into a simple monthly lease payment.

Instead of requiring the customer to pay for the geothermal system upfront, the program spreads the cost across the lease term while including the core items needed to install, operate, and maintain the system.

Pricing

  • Monthly rates in-line with comparable loans + worry-free service coverage

For customers

  • Simple monthly payment instead of upfront equipment cost

  • No surprise repair or maintenance expenses

  • Installation and service handled by trusted local partners

  • Easy, tech enabled order and ownership experience

For partners

  • Enhanced financing option that complements cash and loan offerings

  • Minimal change to existing install workflows

  • Built-in service and maintenance revenue, serving as the first call for customer needs

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