Subhead: 
Refinance
Body: 

For those who are refinancing their mortgage.

Note: Instructions for completing the form are included in the PDF.

Subhead: 
Lease Changes
Body: 

Changes to lease due to military relocation, divorce, one lessee passing away, or removing a co-borrower’s information.

Note: Instructions for completing the form are included in the PDF.

Subhead: 
Home Sale
Body: 

Changes to current lease due to sale of your home. Must be completed prior to final close of sales.

For: Current homeowners

Note: Instructions for completing the form are included in the PDF.

 

Solar Lease Services FAQs

Home Refinance as Lease Customer

I'm refinancing my home; how should I start the process?

Please call 1-800-SUNPOWER (786-7693) and speak to one of our customer service representatives to initiate the process, or email refinance@sunpower.com with a completely filled out Refinance form.

Are there any fees associated with refinancing requests?

Yes, there is a $250 processing fee.

I’m refinancing my home and the title requires "a subordination". What does "subordination" mean?

If the Solar System is located in California, SunPower—as the Lessor of the Solar System—is required to record a Notice of an Independent Solar Energy Producer Contract with the county recorder’s office, pursuant to Section 2869 of the California Public Utilities Code. This filing is simply a notice that a Solar System is located on your property. SunPower will process a Subordination Agreement during the refinancing process. The Subordination Agreement document will be submitted electronically and will be provided to the lender.

How does my title officer request a termination of the UCC filings?

Please ask your escrow or mortgage officer to send us the completed Refinance form along with the preliminary title report to refinance@sunpower.com. The escrow officer will receive electronic copies of terminated UCC documents, which should satisfy the requirements of your lender.

Can I do a buyout of my Solar System during a refinance?

Systems can only be purchased during home sale and/or if an early buyout option is specified in your contract.

Will UCC filing be reinstated after refinance?

SunPower will refile UCC 60 days after termination of the original filings.


Home Sale Assignment/Buyout (Seller)

I'm selling my home and I have an existing Solar Lease Contract. What are my options with my lease?

You have two options during a home sale:

  • Assignment (a credit check is required from the buyers, even in the event the lease is prepaid): An assignment is the transfer of the lease contract terms and conditions, which will be assigned to the new homeowner’s name during the sale of a home; or,
  • Purchase:​ The seller or buyer has an option to buy out the system during the sale of the home.

Call 1-800-SUNPOWER (786-7693) or email homesale@sunpower.com with a completely filled out Home Sale form to initiate the process.

What is the time-frame for a lease assignment and/or buyout process to be completed?

SunPower requires a 30-day notice prior to home sale.

  • Lease Assignment process can be completed within 10-14 business days after Buyer's credit approval and/or contingent of the escrow closing date. Signed lease assignment documents and final payment (if any) must be completed and submitted to SunPower in order to complete the assumption process.
  • Buy Out process can be completed within 10-14 business days once confirmation to exercise the buyout quote has been received and/or contingent of the escrow closing date. Signed purchase documents and payment must be completed and submitted to SunPower in order to complete the buyout process.

What paper work will SunPower provide in-line with my home sale?

An Escrow Package of home sale documents will be presented to your escrow officer/attorney. The package should be presented to each party (buyer and seller) at closing by the escrow officer for their records.

The documents are:

  • Escrow instructions
  • Assignment of lease
  • Terminated UCC filings
  • Extinguishment of PUC (notice of independent solar producer) – this will be sent directly to the county within 48 hours upon your Escrow/Title Company's receipt of Escrow Package. A draft will be included in the Escrow Package for your reference.

What happens if the buyer is credit declined?

SunPower will request for specific documents needed from the buyer to support credibility of assuming the lease.


Home Sale Assignment/Buyout (Buyer)

I’m purchasing a home with a prepaid lease. Why do I need a credit check?

While the lease has been paid in advance, SunPower utilizes the credit check process to also verify identity. The credit check is a requirement for all lease assignments regardless of whether the lease agreement is prepaid or monthly.

What happens if I get declined?

SunPower will request for specific documents needed from the buyer to support credibility of assuming the lease.

What if I do not want to assume the solar lease on this home?

You cannot cancel nor remove the equipment. If you do not wish to assume the lease:

  • You can purchase the system; or,
  • SunPower would be happy to try to assist you in learning more about the lease and the solar system, including the benefits of solar. Please contact us at 1-800-SUNPOWER (786-7693) with any questions you might have.

What will the monthly payments be and how does the lease work?

Your realtor can assist you in obtaining a copy of the lease from the seller. If one is not available, the seller can call 1-800-SUNPOWER (786-7693) or email homesale@sunpower.com to request a copy for you and permit us to send you the copy of the lease agreement.


Other Lease FAQs

What happens at the end of the lease term?

When the lease reaches its scheduled end of the lease term, you may extend the lease term or request the removal of the system. If you do not extend the lease term or request removal of the system, the lease automatically renews on a month-to-month basis. Please review your lease contract for more information. If you have questions or concerns, please email homesale@sunpower.com or call 1-800-SUNPOWER (786-7693).

What happens in the event of death?

In the event of death, the lease will automatically be transferred to the spouse or estate of the deceased. To change ownership to the estate or a trust, please contact 1-800-786-7693 or send the completed Life Event form to homesale@sunpower.com and attach a copy of the death certificate and the assumptor's state-issued ID.

How can I change the name of the Lessee (or assign it to my relative) on the Solar Lease Contract?

We will assist you to amend your Solar Lease Contract. Please send the completed Life Event form to homesale@sunpower.com or call 1-800-SUNPOWER (786-7693) for more information.