Home Solar property sale related questions - But from a bankrupt solar company

[mxp]

Hi,
I have questions regarding the situation of a home sale, where the existing solar installation (installed in 2015) is in place, and connected to the utility company. It's currently operational.

1. The home seller is paying out a solar finance company "Mosaic" before the sale of the property.
2. Their 6kW solar system was installed and financed by American Solar Direct. But, they went bankrupt in 2017. So, their monthly finance payments have since been made to Mosaic

My questions are:
1. Assuming they paid it out fully to Mosaic, and I can double check this easily before the property is transferred; How do I know for certain, that I am now the rightful owner of the solar system in the home? Should I ask Mosaic or the seller, for some form of paperwork to say I am now the "new owner" ?

2. Once I have the keys to the home, I will contact the utility company and tell them I am the new owner. Next, I will request for service connection to commence. Will the the utility company require some form of new documentation from me, or will they simply use the details from the previous owner and begin my service? Note: I think the existing owners are on some form of NEM net metering plan. Not sure if they are on a legacy plan or not...

3. American Solar Direct is bankrupt. So, I suspect, there is no more warranty on the system. I cannot call Mosaic because I think they are only solar financing and not a solar installation company.
What are my alternative options to get support, if something fails on my system in future?

Thanks for any advice..

 

[snoobler]

1) I would make the closing contingent. If the proceeds of the sale of the home are intended to fund the pay-off, see if you can make the closing action divert those finds directly from close to Mosaic. I don't know if this is possible, but it's what I would try.

2) No idea

3) I suspect that manufacturer's component warranty applies. Panels tend to have a 5-7 year manufacturing warranty and a 20-25 year production warranty. Inverters and such may carry a 5 year warranty.

For support, I would compile a list of all equipment and educate myself on the components, system and operation. Come here if I had trouble.

 

[dirtybobby423]

There may be a way to have money held in escrow until everything is cleared up as well.

 

[snoobler]

There may be a way to have money held in escrow until everything is cleared up as well.

That's the word I was trying to think of!!!! Dang it.

 

[BoloMKXXVIII]

Something else to think about. I have no idea if it pertains to your situation but it could amount to a lot of money:

SRECs: What are Solar Renewable Energy Credits?

Learn all about SRECs - what they are, how they work, and how they can save you money on your solar investment.

www.energysage.com

 

[Hedges]

At least PG&E/California, they say permission to connect is transferred to next customer.

I should hope that any company which hasn't recorded a lien on the property has zero recourse against new owner of the property. And anything bolted to the building is considered part of the "real property". No guarantees, though. Good to get a signed release from creditor.

Make sure you observe the power production as measured by the inverters matches expectation, to be sure it it working now.

Support, you could hire anyone in the field and pay by the hour. If you're comfortable around 240VAC and 600V DC, DIY.
Likely repair is swapping out the inverter. After reviewing voltage and current limits, and any difference in fuse requirements, you might just put in a new one, or an older model bought used or new-old-stock. Prices are cheap. I now have 95kW of grid-tie inverters on hand, either operating or sitting in my closet (but that's another story - I'm addicted, and just can't stop myself.)

 

[mxp]

Thank you Hedges, and to everyone else who help with your point of views.

I really do appreciate all the info here as it will help me in my considerations...

At least PG&E/California, they say permission to connect is transferred to next customer.

I should hope that any company which hasn't recorded a lien on the property has zero recourse against new owner of the property. And anything bolted to the building is considered part of the "real property". No guarantees, though. Good to get a signed release from creditor.

Make sure you observe the power production as measured by the inverters matches expectation, to be sure it it working now.

Support, you could hire anyone in the field and pay by the hour. If you're comfortable around 240VAC and 600V DC, DIY.
Likely repair is swapping out the inverter. After reviewing voltage and current limits, and any difference in fuse requirements, you might just put in a new one, or an older model bought used or new-old-stock. Prices are cheap. I now have 95kW of grid-tie inverters on hand, either operating or sitting in my closet (but that's another story - I'm addicted, and just can't stop myself.)