Thinking about taking full ownership of your solar system, or managing your lease payments differently? Here's what you need to know.
Understanding your options: prepaying vs. buying out
These two options work very differently, so it's worth knowing the distinction before you decide.
Prepaying your lease
You pay all remaining monthly lease payments upfront, in advance.
Palmetto keeps ownership of the solar system.
Your service, maintenance, and support continue exactly as outlined in your original agreement.
Buyout/payoff (purchasing your system outright)
You purchase the solar system from Palmetto and become the full owner.
Once the buyout is complete, all warranties, maintenance agreements, and service contracts with Palmetto end.
This option is only available after the first five years of your Palmetto Energy Plan lease.
When can you request a buyout quote?
You're eligible to request a buyout quote:
On the fifth anniversary of your System Interconnection Date
Any time after that fifth anniversary
If you're selling your home during the initial lease term (see our Selling your home with Palmetto article for details on that scenario)
How is the purchase price determined?
The price is based on your system's fair market value at the time of your request. An independent appraiser determines this value using data from comparable solar systems in your area, so the price reflects current market conditions and your system's actual performance.
The full quote process typically takes 10 to 15 business days from the date all required documents are submitted. The independent appraisal itself takes 24 to 48 hours, but document collection and processing add to the overall timeline. Submitting documents promptly and completely is the best way to avoid delays.
What if my quote expires?
Buyout quotes are valid for 30 days. After that, a new appraisal is required because solar system market values fluctuate over time. If your quote has expired, we'll let you know and walk you through requesting an updated one. This expiration window is disclosed when your initial quote is provided.
Ready to get started?
To request a lease prepayment or a buyout, complete the form below:
On the form, select Lease/PPA Pre-Payment from the Request Type dropdown. Once submitted, a Palmetto team member will follow up to walk you through next steps.
Have an upcoming closing or deadline?
If you have a home sale or refinancing closing date, submit your request as soon as possible. The 10 to 15 business day timeline starts only once all documents are received, so delays in submitting documents will push back your quote.
Closing within 5 business days and your request is still open? Call our Homeowner Support team directly and share your closing date. We'll escalate your request as a priority.
⚠️ Closing within 5 business days and your request is still unresolved? Please let our team know your closing date. We'll escalate your request as a priority.
If you have any questions about your options or would like to check the status of your request after submitting the form, please don't hesitate to reach out!