What is agreement term?
For Sunnova the agreement term Is the number of years of the contract.
What is an escalator?
This features gives the customer the ability to pay lower amount for the beginning of the contract and slightly increase annually.
The four types of escalator rate?
0.9%, 1.9%, 2.9% & 3.9% which is only applicable for California and Hawaii.
Reasons why Customers may choose escalators?
...
What is a prepayment?
The customer makes all remaining monthly at one time.
Prepayment is only applicable for what services?
? Lease and PPA services- the service and warranty remain for the remainder of the agreement term.
What is a buyout?
The customer can pay the remainder of the contract term but this can be done after the 5th year.
What type of service has the buyout options? Will the service and Warranty be the customer’s responsibility?
PPA services only, yes the contract will end after a buyout
What is a payoff?
The customer pays the remaining principal balance on a Loan agreement.
System Ownership for: Lease, PPA, Loan?
: Lease not available, PPA- after the 5th year, Loan- Immediate Ownership.
Down payment for Lease, PPA, Loan are taken by?
Lease- taken by Sunnova Agent, PPA- Taken by Sunnova agent, Loan- Taken by dealer
ACH (Automated Clearing House) discount for Lease, PPA, Loan?
Lease: $15.00, PPA: 10%, Loan $10.00
Is recurring payment required for Lease, PPA, Loan?
Lease- yes, PPA- yes, Loan- No
What is PGO- Performance Guarantee/ Production guarantee
In the case that the Solar System does not produce as expected the customer will be given credit to make up for the difference.
How is the PGO calculated?
After the third year for the first time then annually after that.
