Solar, what it means to own?

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Submitted by moneymaker on April 4, 2018 - 2:52am

Just noticed a listing that says solar is owned and in the same sentence says it is the hero program. To me it is not "owned" really if the next buyer of the property has to pay for it with property taxes. So leased, owned and ?
Here is the link I'm referring to
https://www.redfin.com/CA/Lemon-Grove/21...

Submitted by Escoguy on April 4, 2018 - 9:29pm.

When I looked into Hero a few years ago, my takeaway was the relatively high interest rate vs the much lower mortgage rates.

It seem only suitable for those who couldn't pay cash or didn't have a better financing option.

The solar probably still saves money and its probably still a net positive but smaller than if it had been purchased outright or financed with a lower rate.

If a buyer could pay it off early with a lower rate, then much of the downside could be mitigated. Not sure if there is a prepayment penalty but my guess would be no.

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