Although we do not require you to purchase any solar panels or related system equipment, nor pay for any costs related to the engineering, procurement, or construction of your solar energy solution, nor provide a contract origination fee, we do require a security deposit, unless waived in part or in whole by a Company offering. The security deposit is $500.00 for all solar energy systems with capacities of 5 KWp DC or less. For systems larger than 5 KWp DC it is $500 plus 10 cents per Wp DC for every Wp DC greater than 5 KWp DC.
This security deposit is held by Citizenre until the FRA has been completed: a contract is considered completed when the customer is no longer obligated under any original contract period or contract renewal period to rent the solar energy system, and the customer has been determined to have fulfilled his/her obligations under such contract periods. At the completion of the contract, and once the solar equipment & related PV panesl have been inspected and recovered by the Company, our company will refund the security deposit to you. The security deposit will earn interest for you during the contract period or any contract renewal periods.
In the event that the Company determines that the solar equipment has been damaged intentionally or though gross neglect, our company retains the right to withhold the security deposit in whole or in part to cover damages. This does not limit our company's rights to seek additional compensation for damages sustained through any legal remedy afforded to it by the Forward Rental Agreement (FRA).
Besides the security deposit, the only other payment required of you is the monthly rental fee. As mentioned throughout the website, the monthly rental fee is based upon the determined contract rate and the amount of electricity generated by the solar equipment. By way of example only, if a customer has a contract rate of 8¾¢ per kWh, and the solar system generates 1023 kWh in July, then the customer will receive a bill for $89.51; whereas, this same system may only produce 432 kWh in December, thus, the customer will receive a bill for $37.80. In either case, the customer is only obligated to pay for what is generated.
Alternatively, our company is allowing you to choose an Even-Pay Option. The Even-Pay Option forecasts the expected electricity generation of the solar system for the entire upcoming calendar year. It then averages out the electricity generation over the twelve months equally and bills you according to the anticipated average electricity generation. Your statement will reflect both the anticipated average and the actual accumulated generation of the solar system each month. At the end of the calendar year, the actual generation will be measured against the anticipated generation and the final bill will be balanced to account for the difference – if any – in the actual and forecasted electricity generation, whether the balance is net-negative or net-positive.
This option is only available prior to the beginning of any calendar year of a contract period and obligates the customer for the entire calendar year. A calendar year only begins on the anniversary of the originating contract date. Once the Even-Pay Option has been selected, the option will automatically renew itself with each calendar year, unless the customer gives notice 30 days prior to the end of any calendar year.
The performance-based plan (pay-as-electricity is generated) may be seen as highly variable and thus unappealing to you. An even pay plan allows you to take advantage of a consistent bill and then make up the difference at the end of the year.
