Retail Supplier Offering Two Years of Free Electricity With Solar Lease

NRG Residential Solar Solutions is offering residential customers a solar leasing package that includes two years of free electricity from its affiliated retail electricity provider, for usage not met by the solar panels.

According to NRG Residential Solar Solutions' website, the offer is only available to residential customers living in the PSEG [sic] service territory.

Specifically, for the first two years of the solar lease, in the event that the solar system does not supply all of the customer's electricity needs in a given month, the customer will receive free electricity supply from NRG Residential Solutions, up to 10,000 kWh per year. This does not include utility charges.

If the customer exceeds the annual cap for free grid-sourced supply, the customer shall be invoiced for an amount equal to the kilowatt-hours used in excess of 10,000 multiplied by $0.12 per kilowatt-hour.

The customer will have a monthly solar lease payment, which NRG Residential Solutions' website states, "should be less than your current electricity bill." The customer will also be subject to utility charges.

NRG Residential Solar Solutions is offering the solar lease with $0 down.

In order to qualify for the offer, a prospective customer must be a U.S. citizen, own the home being equipped with solar panels, pass a credit check with a minimum FICO of 700, unless the lease is prepaid at signing, and live in the PSEG service territory. In addition, the installation property must meet the following qualifications, among others: (1) be a residential property with a broadband Internet connection; (2) be a permanent structure, with title (this excludes boathouses, mobile homes, etc.); and (3) have an open-roof space facing south, southeast or southwest, or have available land for a ground mount that is free from shading or obstructions. In addition, in the case of an attached residence, the customer must have rights of ownership over the roof.

The installed solar system must be greater than 3 kilowatts.