Rhode Island General Laws 39-26.8-6. Standard form addendum for system lease agreement
The standard disclosure form shall include an addendum that applies if a solar retailer is proposing to enter into a system lease agreement with a potential customer. The system lease addendum shall require the solar retailer to provide a detailed comparison of the cost of leasing the system as compared to purchasing the system.
History of Section.
P.L. 2022, ch. 255, § 1, effective June 28, 2022; P.L. 2022, ch. 256, § 1, effective June 28, 2022.
Terms Used In Rhode Island General Laws 39-26.8-6
- Customer: means a person who, for primarily personal, family, or household purposes:
(i) Purchases a residential solar energy system under a system purchase agreement;
(ii) Leases a residential solar energy system under a system lease agreement; or
(iii) Purchases electricity under a power purchase agreement. See Rhode Island General Laws 39-26.8-2
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Solar retailer: means a person who:
(i) Sells or proposes to sell a residential solar energy system to a customer under a system purchase agreement;
(ii) Owns the residential solar energy system that is the subject of a system lease agreement or proposed system lease agreement; or
(iii) Sells or proposes to sell electricity to a customer under a power purchase agreement. See Rhode Island General Laws 39-26.8-2