The Florida Public Service Commission (PSC) today 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 Sunrun’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. 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 Commission’s jurisdiction. Homeowners can lease equipment to generate electricity for personal use and also benefit from interconnection and net metering with their local utility.
“Residential equipment leasing makes solar more attractive for some customers, and today’s decision confirms that Florida’s ratepayers have that option,” said PSC Chairman Art Graham.
In its declaratory statement, the PSC found today that:
- Sunrun’s residential solar equipment lease does not constitute a sale of electricity;
- Offering its solar equipment lease to customers in Florida will not cause Sunrun to be a public utility under Florida law; and
- The residential solar equipment lease will not subject Sunrun or its customer-lessees to Commission regulation.
Located in Tampa, Sunrun is the nation’s largest dedicated residential solar storage and energy services company.
