Rooftop Solar Lease Agreement
This can apply to every rental agreement, not just a solar roof lease. The tenant may require the lessor to obtain agreements from mortgage lenders that the tenant remains in possession of the leased roof despite a mortgage default and that lenders recognize the lease and the tenant`s rights with respect to the lease. The landlord wants the tenant to properly maintain and repair the equipment to ensure that it is kept safely and in accordance with the laws and regulations, and the tenant will want the landlord to properly take care of the building, especially the roof, to avoid compromising the tenant`s ability to properly operate his solar installation. Eligibility for a solar site lease may depend on each project, but there are certain requirements that are generally required for each lease. These include: if it takes days or weeks to repair a leaky roof surface, all the financial benefits generated by roof rent can be quickly replaced by huge losses that could eliminate several years of rental income. Therefore, for each roof rental contract, you need to know who will pay if roof repairs are needed, especially if the disposal of photovoltaic installations is necessary. In addition, the rental agreement may provide that the tenant must pay his electricity consumption and all actual taxes related to the photovoltaic installation. Because of this growing demand – homeowners see the interest of developers who are willing to pay to rent the place. Participating in a solar site leasing is a great way to support solar energy in your community, especially if you are not able to use the electricity generated from your site`s table.
For example, a recently renewed Solect customer, Mass Tank, wanted to follow a solar solution, but found that its municipal plants, Middleborough Gas and Electric, had rules preventing the possession of a solar installation and the use of electricity on site. Instead, Mass Tank made a proposal to the distribution company; The company would lease its roof to an investor, IGS Solar, hosting the rooftop solar installation and selling the electricity as a customer to the distribution company. This solution allows Mass Tank, homes and other Middleborough businesses to benefit from renewable energy. By renting its roof to the IGS, Mass Tank has created an additional flow of rental income for 20 years. To learn more about this project, see this press release. A roof rental contract is suitable for landowners with a main meter with an electricity supply contract and a sub-counter for tenants who purchase their electricity from landowners. Solar energy consumed at the main meter is distributed according to normal electricity consumption between sub-counters and can be billed under-meter at the retail price of electricity.