The Florida Public Service Commission (PSC) has issued a declaratory statement that affirms Sunrun Inc. can offer residential solar equipment leases in Florida.
After reviewing Sunrun’s draft lease agreement, commissioners determined that the company’s 20-year solar equipment lease is not a retail sale of electricity.
PSC rules have long allowed leasing of renewable energy equipment, but the lease terms cannot be structured to, in effect, sell electricity to the customer, the commission explains. Commissioners originally considered Sunrun’s petition at the March 1 Commission Conference but requested to evaluate its lease agreement before making a decision. Sunrun filed its draft lease on March 20.
Today, commissioners agreed that Sunrun’s lease conforms to its petition by offering customers fixed payments independent of electric production. As a result, Sunrun will be allowed to lease rooftop solar equipment to homeowners without being considered a public utility under the PSC’s jurisdiction. Homeowners can lease equipment to generate electricity for personal use and also benefit from interconnection and net metering with their local utility, the commission says.
“Residential equipment leasing makes solar more attractive for some customers, and today’s decision confirms that Florida’s ratepayers have that option,” says Art Graham, chairman of the PSC.
“The commission’s vote to grant our petition is a critical step toward broadening access to solar energy for Floridian households,” states Anne Hoskins, chief policy officer of Sunrun. “We are grateful for the time the commission and technical staff spent promptly reviewing our petition and our Florida lease product and look forward to bringing additional solar energy choice to more people in the Sunshine State soon.”
Sunrun expects to start accepting orders in select markets in the coming months, in accordance with the commission’s final ruling.
“Sunrun is delighted to now be able to offer Floridians the opportunity to lease a solar system, enabling them to have clean, reliable, affordable solar power for their homes,” adds Lynn Jurich, CEO and co-founder of Sunrun.