How do I apply for the GP Energy Solar Lease?
The application process is simple. We will provide you with an online credit application that will take approximately 15 minutes to complete. Once itís submitted, you will be notified of our credit decision within 24 hours.
How difficult is it to receive credit approval?
Our credit decision is based on verification of income and employment, as well as information obtained from consumer reporting agencies. As long as all of that is in good standing, you should not have an issue with being approved.
Who is responsible for operating and maintaining the system?
We are. Your lease agreement includes system output monitoring, theft and damage insurance, equipment repairs, inverter replacement, and a limited system output warranty.
Can I buy the solar energy system before the end of the lease term?
Yes, there are early-term flexible buyout options available with your lease agreement.
What happens if I decide to sell my house?
If you decide to sell your house, you have the option to transfer lease payments to the new homeowner or purchase the solar energy system outright to sell as part of your existing home. To transfer your lease payments, the new homeowner must financially qualify.
If I lease, will I benefit from state and federal incentives, as well as other rebate programs?
Yes, you will benefit from state and federal incentives and rebates, which are factored into your lease agreement. Since you do not own the system, all state and federal incentives are passed back to you indirectly in the form of lower monthly lease payments.
What happens at the end of the lease term?
At the end of the lease term, you have the option to purchase the system at Fair Market Value, you may extend the lease for another year, or you may return it, at no cost to you.