NorTracNY
Platinum Member
My panels come with a 25 year transferable output warranty... only thing is the company went out of business in 2012...
I am all for warranties but have found things happen to the best of plans.
Yes, I certainly factored in the possibility of the company going out of business. Seeing that the system was installed at my place for a fraction of the buy price (less than 1/2) I'm not concerned. I figured that if they go under the system will be mine. What I really anticipate is after the lease is up at the end of 20 years, the company will abandon it. What company would pay several thousand to have a 20 year old system removed from someone's house? Either way, when the lease is up, I'll need a new roof. I'm told the panels will last forever with a ~0.5% drop/year (so 90% at 20years). It's the inverters that only last 15-25years.
I believe the reason the lease was a good deal is that the company got all the tax credits and they can do something I can't. They depreciated the value over 6-7 years. It's even written in the contract that I could but it at 7years for $700. I'd loose the guarantee so I passed. But it did mean for me that leasing + buying at year 7 was half the cost of buying at the beginning.