SEIA launches its standardized residential lease disclosure form for homewners
Written By: Stratton Report
February 9, 2016
On February 9, the Solar Energy Industries Association announced the launch of its SEIA Residential Lease Disclosure form to help consumers better understand the terms and costs of their solar leases. The form is also designed to help consumers choose among competitive providers.
Rhone Resch, SEIA president and CEO noted:
“This one form can help millions of homeowners go solar. The SEIA Residential Lease Disclosure form is the knowledgeable best friend everyone wishes they had on those big ticket purchases. By using this tool, solar shoppers can now easily compare competing lease contracts – creating a marketplace of consumers who are both well-informed and confident in their decision to go carbon-free.”
The form was created by a team of attorneys and according to SEIA has been shared widely with consumer groups, federal and state regulators, and others with an interest in ensuring consumers understand how solar transactions work. The disclosure form attempts to provide a snapshot of the important details of a leasing arrangement, increasing consumer awareness of key terms, including costs, warranty terms and solar energy production estimates.
Seth Weissmann, Executive Vice President, General Counsel and Secretary of SolarCity commented: “We applaud SEIA’s prioritization of consumer protection and are confident that the Residential Lease Disclosure form will provide transparency across the solar industry marketplace and drive greater clarity for consumers.”
Nick Mack, general counsel at Spruce Finance Inc. and co-chair of SEIA’s Consumer Protection Committee noted: “SEIA has done great work to make going solar a straightforward experience for consumers. The Residential Lease Disclosure form is the latest tool to help the industry provide a transparent process so our customers can make informed decisions.”