Lease

How Lease Works For Solar Power

AREP/Bank purchases/owns solar/storage system

AREP pays for all capital costs and O & M

Customer provides downpayment: 20% of total expense prepaid 

Customer leases system for 7 years/buys back at FMV to be determined

Power Price will be lower than customer currently pays utility

          Solar system will provide hedge against future utility power price increases

Customer is at risk for system performance, maintenance after lease period