A family is looking for ways to exit a 20-year panel lease after a relative's death — the problem is that the contract still had 12 years left at the time of posting.
In a post in the r/TeslaSolar community, the original poster asked if they could cancel the contract, given that their grandmother's name is not on it, or if their grandma still has to pay the remaining loan term.
According to Palmetto, if someone who has a solar loan passes away, their estate may still be liable to pay off the remaining loan. The solar lease may be attached to the property and passed on to the inheritor or buyer.
Tesla shared that solar leases are similar to car leases, where individuals make monthly payments for contract lengths that run for 15 to 25 years, while the provider covers installation, ownership, and maintenance.
The OP's predicament echoes discussions from homeowners facing lease issues and challenges with solar products. If you need guidance on going solar, EnergySage, a TCD partner, allows users to compare quotes from vetted installers and save up to $10,000 when installing rooftop panels.
Other Reddit users were quick to share their experiences. One discussed how they purchased a home with panels installed over a decade ago and how they were responsible for taking over the lease.
However, they also shared how they benefited from the panels. "Our solar panels have cut our electric in half, even with paying the lease, we pay less for electric so I find having the solar panels as being a positive thing," they wrote.
Going solar helps homeowners reduce electricity costs by 15% on average and stay resilient, Stanford Energy reported. Pairing solar systems with battery storage provides backup power in case of grid outages, allowing residents to use stored power instead, according to Palmetto.
Get $1,000 cash to slash your bills with rooftop solar panels for $0 down and low monthly payments Whatever your solar budget, Palmetto can help you save. If you want to buy your own panels, Palmetto's advisors can help you save up to $10,000 on installation through a network of preferred installers. And if you'd rather get solar savings without upfront costs, Palmetto's revolutionary LightReach subscription program can deliver — including an exclusive $1,000 cashback offer for TCD readers. LightReach lets you lease solar panels with no money down, making it painless to lock in long-term savings of up to 33% off your current power bill. Palmetto covers a 25-year warranty for the panels, which means you'll get reliable performance without unforeseen costs. To get started, just book a short meeting with Palmetto's experts to explore your options and find the solution that's right for you. |
Smart upgrades that slash monthly energy bills
If you're considering switching to solar, you should explore these options to make solar more accessible and save even more money.
• EnergySage can help you save up to $10,000 on installations by curating competitive bids from local installers
• Not ready to spend up front? Palmetto's $0-down LightReach solar leasing program can lower your utility rate by up to 20%
• TCD's Solar Explorer makes it easy to access exclusive offers from preferred partners
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Which of these savings plans for rooftop solar panels would be most appealing for you?
Click your choice to see results and speak your mind. |
Save $1,000 this year 💸 To drive costs lower, consider pairing your solar system with energy-efficient appliances. Another TCD partner, Mitsubishi, can help you upgrade your HVAC into an energy-efficient system so you can save even more. And with the free Palmetto Home app, you can get up to $5,000 in rewards by completing challenges.
"I don't think there's a way out without paying one way or another," one Reddit user commented.
"Not your lawyer but you should speak with a legal professional about this. Contact your local bar association and explain the situation, they can help you with a referral," advised a Redditor.
Get TCD's free newsletters for easy tips to save more, waste less, and make smarter choices — and earn up to $5,000 toward clean upgrades in TCD's exclusive Rewards Club.
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