A solar lease allows us to purchase, install, own, and maintain a solar photovoltaic system on your property, which will be connected to Duke Energy’s meter. The energy produced by the system will reduce your power consumption (and therefore your bill) from Duke Energy. You will make monthly payments to us for the lease term, and these payments are designed to save you at least 10% on your electric bill. Since we own the solar system, you are not responsible for maintenance or operation, and you are not eligible for the Investment Tax Credit. However, you may be eligible for an additional monthly incentive payment from Duke Energy because our systems include energy storage.

 Our solar lease does not require a large upfront payment and is designed to save you at least 10% on your electric bill.  We also include a battery so that you increase your energy resilience by having power during a grid outage.  And producing clean energy on your roof is great for you, the environment, and your budget!

Most of our solar leases last for 25 years. At the end of the lease, you can purchase the system at a relatively low cost, enter a new lease, or have the system removed from your roof at no cost to you. During the lease term, you agree not to damage the equipment and to provide us access for repairs.

Our systems include a battery that provides approximately 11 kWh of storage, enough to power your house for a few hours. Reducing your power consumption (e.g., turning off HVAC systems and unused electrical appliances) can extend battery life. Your salesperson will explain when the battery will and will not work based on your energy consumption patterns.

Our lease includes a production guarantee, which obligates us to repair the solar system promptly if it goes down. This may include reducing your lease costs or compensating you for missed production. The solar panels have a 25-year production warranty, while the battery warranty is limited to 10 years. After 10 years, we will continue to honor the solar production guarantee only.

Every homeowner should make an informed decision about integrating clean energy into their home. Your salesperson can help you explore different options: paying upfront, taking a loan, or signing a solar lease. A solar lease can be attractive for those who don't have a lot of cash to invest or don't want to take out a loan. However, leased systems do not generate a tax credit for the homeowner.

How does the tax credit work?  In a solar lease, the lessor (EnerWealth) gets the tax credit.  If you purchase the system, instead of leasing it, then you too could get the tax credit.  A similar-sized system with the same components will have a tax credit worth a little more than $10,000.  Tax situations vary, but generally, a family of four with two income earners would need at least $100,000 or more in gross income (with the standard deduction) to use a $10,000 tax credit in one year.

With a loan, you own the system immediately and can claim the tax credit. You are responsible for operating and maintaining the system, but you can hire companies to handle this for you. With a lease, we handle the operations and maintenance, and we monetize the tax credits since we own the system.

The lease can be transferred to a new homeowner (subject to conditions in the lease), or you could terminate the lease and increase the purchase price of the house to cover it.

Yes, even with our leased systems providing a significant portion of your energy, you will still be connected to Duke Energy’s grid and will use their power at times. You will be charged for this usage, and solar does not impact Duke Energy’s fixed charges, such as the “Basic Customer Charge.” Our lease aims to save you at least 10% off your energy bill after accounting for the lease cost.

You must be a homeowner with proof of income such as a recent paystub.  Some houses will have conditions that may disqualify you from obtaining a lease with us such as an aged roof, or lots of trees that limit solar production. 

North Carolina does not allow third party PPAs.  The PPA is based on output from the solar system, and our lease is based on the cost of the equipment, installation and maintenance and operations.