MAKE YOUR DEALS SHINE BRIGHT WITH SOLAR
Lunch & Learn with David Gafafyan
For internal use only
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Recap of "Make Your Deals Shine Bright with Solar!" Lunch & Learn
Presented by David Gafafyan from POWUR Solar Power Company
Key Points:
Rising Utility Costs: Utility rates are increasing (e.g., Southern California Edison raised rates by 15%, Glendale Water and Power by 11%). Solar can provide an alternative to avoid future hikes and make energy costs inflation-proof.
How Solar Works:
Solar panels harness energy from the sun, allowing homeowners to produce their own power and reduce reliance on utility companies.
Solar and Real Estate Transactions: Solar loans can be transferred to new homeowners during a property sale. Ideal situations involve either the buyer taking over the payments or the seller paying off the loan through escrow.
Solar Benefits:
Reduces utility costs by up to 50% or more.
Provides fixed energy rates for up to 25 years.
Increases home value by approximately 6.8%.
Homes with solar panels sell faster and often above the asking price.
Tax Benefits: 30% federal tax credit on solar installations, available until 2032.
POWUR Company Info:
Established in 2014, POWUR is a national company operating in 27 states.
POWUR offers a 30-year bumper-to-bumper warranty that covers parts, labor, and is transferable to new homeowners.
POWUR uses local labor partners and provides multiple panel, battery, and financing options to meet customers' needs.
Referral Program: Real estate agents can refer clients to POWUR and earn $1,500 per successful solar installation.
Questions & Answers:
Q: Can solar energy be stored?
A: Yes, with battery systems that store excess energy for use during power outages or high-demand periods.
Q: How can homeowners monitor their solar system’s performance?
A: Homeowners receive an app connected to their inverter, allowing real-time monitoring of solar production and usage.
Q: What happens to excess energy?
A: Excess energy can be stored in a battery or sent back to the grid, often generating energy credits.
Q: Does solar affect home sales?
A: Solar increases home value and makes properties more attractive to buyers. Solar loans can be paid off during escrow or transferred to the new owner.
Q: Are there limitations on where solar panels can be installed?
A: Solar can be installed on most roof types, though metal and clay roofs may require additional support. Ground-mounted systems are an option if roof space is limited.
Q: What’s the weight of the solar panels, and is there a limit on how many can be installed?
A: There is no specific limit on how many panels can be installed. POWUR uses racking systems to distribute the weight evenly across the roof. The panels can cover the entire roof if necessary without causing issues. However, if the roof is very old, it might not be a good idea to install solar on it. The warranty also covers roof penetration in case of leaks caused by the installation.
Q: Can solar panels be installed on any type of roof?
A: Not every roof qualifies for solar installation. Solar panels cannot be easily installed on metal roofs due to the difficulty of drilling into metal. Clay roofs are also tricky because they are brittle. Asphalt, concrete, and flat roofs work well, but very steep roofs may pose challenges. POWUR will inspect roofs to ensure they are suitable before installation.
Q: Is the company privately owned?
A: POWUR is a shareholder company, similar to State Farm. It gives shares back to the people. It was started in 2014 by a woman who passed the company on to her son, Jonathan Budd. The company operates virtually with no brick-and-mortar offices to minimize overhead.
Q: Does POWUR have licensed contractors for installation?
A: Yes, POWUR works with licensed, approved, and vetted local labor partners who are insured and bonded. The contractors are monitored, and those who perform well get more jobs. For example, Guou Construction in Riverside, California, handles a large portion of the installations in the state and has over 1,200 five-star reviews.
Q: What happens if the roof is unsuitable for solar installation?
A: If the roof doesn’t qualify for solar, homeowners can opt for ground-mounted systems. This option works well for homeowners with available land. Ground mounts are sleek and can be used if the roof is too steep, too old, or if the homeowner prefers not to have panels on the roof.
Q: What are the lease options for solar?
A: Solar leases typically last 10 to 25 years, depending on the agreement. At the end of the lease, homeowners can either buy the system for a nominal fee (like $1) or pay off the remainder of the lease. The leasing company claims the 30% tax credit, which reduces the monthly payment. After the lease term, the company might not want the panels back since they could be outdated.
Q: Do homeowners get the tax credit with a lease?
A: No, the 30% federal tax credit is applied to the lease and benefits the leasing company. The homeowners see the benefit in the form of lower monthly payments, but they do not receive the tax credit themselves. Homeowners who purchase the system through cash or a loan can claim the tax credit.
Q: What happens at the end of a lease?
A: At the end of the lease, homeowners can pay a small amount (like $1) to buy the system. If they don’t want to keep it, the leasing company may not want the panels back because they would be outdated after 25 years. Alternatively, homeowners can pay off the remaining balance early with no penalties if they wish to own the system outright sooner.
Q: How can real estate agents monetize referrals for solar installations?
A: Real estate agents can refer clients to POWUR and earn a $1,500 commission for each successful solar installation. Agents can reach out to past, present, or future clients, neighbors, or friends to offer solar solutions and partner with POWUR. It’s a win-win for both the agent and the client, as the client saves on energy costs and the agent earns a referral fee.
Q: Can agents receive marketing materials (flyers, postcards) to share with clients?
A: Yes, agents can email or text David at solarbydave@gmail.com, and he will send over marketing materials like flyers or postcards to help them promote solar services to their database.
For more information or to explore POWUR’s solar options, contact
David Gafafyan at solarbydave@gmail.com
