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Module 4
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Down payment for Lease, PPA, Loan are taken by?
Lease- taken by Sunnova Agent, PPA- Taken by Sunnova agent, Loan- Taken by dealer
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Prepayment is only applicable for what services?
? Lease and PPA services- the service and warranty remain for the remainder of the agreement term.
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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
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What is a buyout?
The customer can pay the remainder of the contract term but this can be done after the 5th year.
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Reasons why Customers may choose escalators?
...
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Is recurring payment required for Lease, PPA, Loan?
Lease- yes, PPA- yes, Loan- No
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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.
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ACH (Automated Clearing House) discount for Lease, PPA, Loan?
Lease: $15.00, PPA: 10%, Loan $10.00
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System Ownership for: Lease, PPA, Loan?
: Lease not available, PPA- after the 5th year, Loan- Immediate Ownership.
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What is a payoff?
The customer pays the remaining principal balance on a Loan agreement.
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The four types of escalator rate?
0.9%, 1.9%, 2.9% & 3.9% which is only applicable for California and Hawaii.
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How is the PGO calculated?
After the third year for the first time then annually after that.
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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.
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What is agreement term?
For Sunnova the agreement term Is the number of years of the contract.
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What is a prepayment?
The customer makes all remaining monthly at one time.
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