Sub-Prime Solar Power Just 3 Years After Sub-Prime Mortgages Implode
Jul 7, 2011 – Todd Woody writes, “Bundling the Sun” in the July 18, 2011 edition of Forbes Magazine. How does this work and what lies ahead? SunRun, a San Francisco solar installer, leases rooftop photovoltaic arrays to homeowners who don’t want to pay $30,000 upfront to go green with solar. Instead they make lease payments over 20 years. OK, that sounds OK. Now, SunRun wants to bundle these residential solar leases and sell them to investors such as pension funds, insurance companies and anyone else looking for a long-term steady cash flow. Other than this is how sub-prime mortgages were bundled, do you see any problem with it. I do. First, how long will the solar systems on the roofs last? If they last less than 20 years the homeowner is going to stop making payments or the installer, if it is still around, is going to have to repair or replace the units. Second, solar power systems work, but they are constantly getting better and more efficient. So, what homeowner wants to be paying 20 years for a technology that has been surpassed in 5 or 10 years. It seems there can be problems concerning the cash flow if the solar arrays don’t last long or if solar becomes so good that those installed today are bypassed handily. Please leave your comments here.
Read more at GreenEnergyForEarth.com
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