We’ve had a lot of fun these last few years at the NW solar expo atthe Oregon Convention Center in Portland. In 2009 we celebratedinstalling the most residential PV systems by any contractor in thestate of Oregon. In 2010 we launched our electric vehicle chargingstation division. At the 2011 NW Solar Expo we were thrilled toannounce our partnership with SunRun. Our partnership with SunRun andthe SunRun Total Solar program is a breakthrough for residential solarpower in Oregon and a complete shift in the way we buy solar power.
SunRun is a national solar power company that specializes in makingsolar affordable for everyone by vastly lowering the out of pocket costfor a residential solar power system while also providing a long-termoperations & maintenance agreement that includes a 20-year 100%performance, equipment, and labor warranty. They are able to do this in Oregon by accepting the Energy Trust of Oregon incentive as well as the 30% federal tax credit.
Sunlight Solar customers from left: Vince Alvarez in Milwaukie, Cindy Hickmanin Hillsboro, and brothers David and Marshall Threefoot in SW Portland. On the far right is Sunlight Solar President and Founder, Paul Israel.
Since SunRun is a corporation, they can depreciate the equipment andpass the discount on to you. For the 20-year agreement, SunRun willmaintain ownership of the solar equipment on your roof and you will reap all of the benefits of having solar power without the cost or hassle of ownership. This is also referred to as a residential PPA (powerpurchase agreement) or a solar power finance program. Essentially – youare pre-paying for 20 years of electricity and hedging against futurerate increases from Portland General (PGE) or Pacific Power (PPL).
How does the SunRun Total Solar program work?
SunRun accepts the ETO incentive and federal tax credit, but you arestill able to monetize the $6,000 state tax credit over 4 years at$1500/year. The total out of pocket cost for a 3.24KW solar electricsystem is $6,000. As long as you have a $1500 state tax liability overthe next 4 years then you will monetize 100% of that. So the deal ismost simply put “$6,000 down, and $6,000 back” and never make anotherpayment for the next 20 years. Simple!!
Who is eligible?
On day two of the solar expo Sunlight Solar customers Ron and Jean Boeslstopped by sporting Sunlight Solar gear! Ron and Jean live in northeast Portland and their yard is a certified wildlife habitat by the National Audubon Society. Far left: Sunlight Solar thermal technician MarkoWessels. Far right: future Sunlight Solar customer Bob Gordon fromGresham.
This program is available for any Oregon resident whose electricityis provided by PGE or Pacific Power. Sunlight Solar will provide theSunRun Total Solar program statewide including Portland, Gresham,Tigard, Lake Oswego, West Linn, Oregon City, Estacada, Clackamas, HappyValley, Beaverton, Hillsboro, Newberg, North Plains, Tualatin, Sherwood, Wilsonville, Milwaukie, Hood River, Bend, Redmond, Prineville, Madras,Eugene, Corvallis, Albany, Salem, Klamath Falls, Roseburg, Grants Pass,Pendleton, and Medford. If your city is not listed and you are a PGE or PPL customer you are eligible.
Can I buy the equipment?
Of course, however, with SunRun, you can buy electricity from a clean renewable source, and at a lower cost than you would pay for the samepower from your utility. You will never have to worry about theequipment as it is insured by SunRun and has a 20-year 100% warranty.
What are my options at the end of the 20-year agreement?
At the end of 20 years you will have three options:
- Renew with SunRun at a guaranteed 10% less than the utility’s baseline at that time
- Buy the equipment at Fair Market Value (determined by 3rd party)
- Remove the equipment at no cost to you
What if I move before the 20-year agreement is complete?
We installed SSE customer and friend Mark Nutcher’s first solar electricsystem in 2009. In 2010 he called us back and we installed anothersolar electric system for him. Mark is the owner of Wood Toy Shop inPortland and among many of his talents he crafts hand-made wood toys.Take a look at his work here and support a great person this Christmas! www.woodtoyshop.com
You can transfer the agreement to the new homeowner through a simpleone-page transfer agreement. The $6,000 state tax credit is in yourname so regardless of whether you move in year one or year fifteen youwill still monetize that over 4 years to pay the system off. The newhomeowner will pay no additional costs and your home will have anincreased value and potentially higher selling price
What if SunRun were to go out of business?
If SunRun were to go out of business you are completely protected. An escrow account is created to completely protect your system today andfor the entirety of the agreement.
What if my roof needs re-roofing?
The Energy Trust of Oregon requires 10-years of remaining roof lifeto approve the installation of a PV system. If your roof has less than10-years of remaining roof life we recommend at least re-roofing theportion of your roof where the solar will go.
Please call or email us today if you have more questions or if you would like to see if your roof qualifies.