American Solar Direct - In Escrow on a house with ASD leased solar system
We are in Escrow on a wonderful house and have just found out the solar panels are leased.The lease is for 20 years.
After running all of the numbers, we will be paying ASD for 1/3 of our electric bill for the next 20 years. Our electricity won't be any less expensive we will just be paying a different company. After the lease is over there is still a $3000 buy-out requirement to then own 20 year old panels that are significantly less efficient than. ASD will not work with us to resolve our concerns because we aren't the "current owner" of the lease.
To close escrow we must sign their contract transfer and then we will be locked into the 15 year commitment. The current owners have no option to buy-out their system (which we are financially willing to help with) or cancel it, because of the contract they signed. There are significant questions on their warranty and performance guarantee.
The whole lease solely benefits ASD and not the end user.Don't ever sign up for a leased solar panel system.
Review about: Lease Solar System.
I didn't like: Force of ownership through escrow.
Review #869795 is a subjective opinion of a user.