13-52-204. Contents of disclosure statement for system lease agreement. If a solar retailer is proposing to enter a system lease agreement with a potential customer, the disclosure statement required in Subsection 13-52-201(1) shall include:
(1)
a statement with substantially the following form and content: “You are entering an agreement to lease an energy generation system. You will lease (not own) the system installed on your property. You will not be entitled to any federal tax credit associated with the lease.”;
Terms Used In Utah Code 13-52-204
Customer: means a person who, for primarily personal, family, or household purposes:
(a)
purchases a residential solar energy system under a system purchase agreement;
(b)
leases a residential solar energy system under a system lease agreement; or
(c)
purchases electricity under a power purchase agreement. See Utah Code 13-52-102
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
sells or proposes to sell a residential solar energy system to a customer under a system purchase agreement;
(b)
owns the residential solar energy system that is the subject of a system lease agreement or proposed system lease agreement; or
(c)
sells or proposes to sell electricity to a customer under a power purchase agreement. See Utah Code 13-52-102
System lease agreement: means an agreement:
(a)
under which a customer leases a residential solar energy system from a solar retailer; and
(b)
that provides for the customer to make payments over a term of at least five years for the lease of the residential solar energy system. See Utah Code 13-52-102
(2)
information about whether the system lease agreement may be transferred to a purchaser of the home or real property where the system is located and, if so, any conditions for a transfer;
(3)
if the solar retailer will not obtain insurance against damage or loss to the system, a statement to that effect and a description of the consequences to the customer if there is damage or loss to the system; and
(4)
information about what will happen to the system at the end of the term of the system lease agreement.
