A prepaid Energy Services Agreement (ESA) offers a different way to go solar: a company owns the system initially, while you pay a set amount for energy services and fund a future purchase of the system. With Propel through Public Service Solar, the program is designed to give homeowners a path to ownership after the first five contract years.
You can keep the financing and make monthly payments, or pay off the loan early using your own funds. Understanding how the ESA and the loan work together is the key to choosing the right option.
- Who gets the SRECs? Under PSS’s Propel arrangement, the homeowner receives the SREC rights through a separate waiver process.
- Can I pay upfront? Yes, however the program requires a loan to be originated first, followed by an early payoff if you choose.
- When do I own the system? After Contract Year 5, when the elected Early Buyout is completed.
- Does paying off the loan give me ownership right away? No. Loan payoff and system ownership are separate.
What Is an Energy Services Agreement?
An Energy Services Agreement is a contract between a homeowner and a company that owns a solar energy system. The company provides the energy services described in the agreement, and the homeowner pays according to the contract’s terms.
An ESA is one form of third-party ownership. Other forms include solar leases and power purchase agreements (PPAs), but their payment and ownership terms can differ. With Propel, the agreement includes prepaid energy services and an elected Early Buyout designed to transfer the system to the homeowner after five contract years.
How Does the Propel Prepaid ESA Work?
- Public Service Solar designs and installs your system. We review your home, electricity use, equipment options, and project scope.
- SolSource owns the system initially. SolSource DevCo LLC is the third-party owner and ESA provider.
- Your agreement funds energy services and the future buyout. The program amount includes prepaid service fees and Early Buyout Funds held in escrow. Review both amounts in your proposal and agreement.
- You choose how to repay the financing. Keep the approved loan and make monthly payments, or arrange an early payoff.
- After Contract Year 5, the elected Early Buyout is completed. The remaining prepaid service fees and escrowed buyout funds are applied to the purchase under the agreement.
The sample ESA states that no additional payment is required to purchase the system under its elected Early Buyout terms. Your signed agreement controls your amounts and obligations. Changing or opting out of that election can change the purchase terms.
Who’s Behind Propel—and Who Owns Your Solar System?
You may see several company names in your Propel paperwork. Each has a different role in supplying the equipment, arranging financing, or providing energy services. SolSource initially owns your system. Propel is the name of the program that brings these services together.
SolSource: Your ESA Provider and Initial System Owner
Your Energy Services Agreement is with SolSource DevCo LLC, the provider identified in your contract. SolSource initially owns the solar system and receives the applicable owner tax benefits, helping support the program’s pricing.
SolSource Services LLC provides the maintenance, limited warranty, performance guarantee, and asset management services described in your agreement.
Enphase Energy: The Technology Partner
Enphase Energy is Propel’s strategic technology partner, supplying microinverter and battery hardware. Enphase also supports the program with qualifying domestic-content equipment and safe-harboring support. Your proposal identifies the specific equipment included in your project.
Greentech Renewables: Equipment Supply and Distribution
Formerly known as CED Greentech, Greentech Renewables is a division of Consolidated Electrical Distributors (CED), one of the largest electrical distributors in the United States.
Greentech provides equipment distribution, logistics, and installer support, connecting the program’s technology partners with installation companies like Public Service Solar.
TriBeam Financial and Concert Finance: Financing
TriBeam Financial provides the financing platform behind Concert Finance, connecting homeowners with financing for their Propel agreement.
Your loan documents identify your lender and establish your payment schedule and repayment terms. Financing the agreement does not make TriBeam the owner of your solar system.
Public Service Solar: Your Installer and Local Point of Contact
Public Service Solar designs and installs your system and helps you understand your proposal, project steps, SREC waiver, and installation warranties. We remain your local point of contact throughout the project and ownership transition.
Why Can a Prepaid ESA Have a Lower Project Price?
The federal Residential Clean Energy Credit under Section 25D is no longer available for property placed in service after December 31, 2025. Homeowners considering a new solar installation in 2026 therefore cannot rely on that former residential credit to reduce their purchase cost.
Propel uses a different structure. The initial business owner can use qualifying business tax benefits, and the program is designed to reflect that value in the homeowner’s offered price. Those business benefits belong to the provider; they are not a tax credit the homeowner claims.
The amount of any price reduction depends on the project and current program terms. Compare the actual ESA amount with a direct-purchase proposal for the same equipment and scope. If you finance, also compare the interest and total payments over the loan’s life.
Who Gets the SRECs With a Propel ESA?
For homeowners enrolling through Public Service Solar, the homeowner receives the SREC rights through our separate waiver process.
SRECs are certificates earned from solar electricity production that can be sold through the applicable state market or incentive program.
Because SolSource initially owns the system, its contact information can appear on the original paperwork. The standard ESA also assigns renewable energy attributes to the provider. For our homeowner SREC arrangement, PSS coordinates a separate waiver after signup that transfers the SREC rights to the homeowner.
SREC eligibility, registration, payment timing, and value depend on the applicable state program. Do not treat estimated SREC revenue as a guaranteed monthly payment or assume it is automatically applied to your loan.
Can I Prepay Instead of Making Monthly Payments?
Yes, through an early loan payoff. Under PSS’s current Propel process, homeowners complete the Concert Finance loan documents and the loan must be originated even if they intend to use their own funds to pay the balance.
Once your loan is funded and eligible for payoff, you can request a payoff quote and repay the balance using your own funds.
Interest accrues while the loan is outstanding. Your payoff quote includes the applicable accrued interest and any other amounts required under your loan documents. Paying off the loan ends that debt once the lender confirms satisfaction; the ESA’s ownership schedule continues until the elected year-five buyout is completed.
Financing Your Propel ESA
PSS currently offers a 25-year Concert Finance loan option with quoted annual rates of 8.99%, 9.99%, or 10.99%, depending on credit qualification. Available terms are subject to lender approval and may change. Your loan disclosures establish your interest rate, APR, fees, payment schedule, and early-payoff terms.
The ESA and loan serve different purposes: the ESA governs energy services and system ownership, while the loan governs repayment. Completing the year-five system purchase does not cancel a remaining loan balance.
Estimate Your Solar Payment and Monthly Savings
Start with your average monthly electric bill. This calculator estimates a system sized to offset your electricity usage, using annual production of 1,200 kWh per installed kW and a base program price of $1.99 per watt. Adjust the utility assumptions to match your bill.
Estimate Your Solar Payment and Savings
Default: $0.25 per kWh (25¢). Adjust this to match your utility’s usage-based supply and delivery rate.
Assumes 25-year financing, annual production of 1,200 kWh per installed kW, and a system sized to offset 100% of estimated electricity usage.
Estimated System Size:
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Estimated Annual Production:
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Example Price per Watt:
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Estimated Program Amount Financed:
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SREC estimates use $77 per credit in NJ and $23 in PA.
Pricing shown is a temporary promotional example for estimation purposes only. Eligible systems of 7 kW or larger are estimated at $1.99 per watt. Below 7 kW, the estimated price increases by $0.10 per watt for each kilowatt smaller, prorated for partial kilowatts. Pricing, financing rates, and program availability are subject to change without notice. Actual pricing depends on your home, equipment, installation requirements, and approved proposal. This calculator is not a quote or an offer of financing.
Savings are illustrative and are not guaranteed. Estimated savings equal your current electric bill minus the estimated solar payment, plus average monthly SREC income. Any remaining utility bill is excluded. One SREC represents 1,000 kWh of solar production. SREC estimates assume $77 per credit in NJ or $23 in PA. Actual eligibility, rates, production, brokerage fees, and payment timing may differ. SREC income is averaged over 12 months; it is not necessarily paid monthly and does not automatically reduce your loan payment. These are current-year estimates, not a projection of SREC income throughout the 25-year loan. Actual production, roof space, shading, equipment, installation scope, lender fees, payment timing, and utility rules can change results. Final program pricing and buyout funding must be confirmed in your proposal. Future utility increases are not included.
After Year 5, You Own the System
When your elected Early Buyout is completed after Contract Year 5, ownership transfers to you under the agreement. The purchase uses the remaining prepaid service fees and Early Buyout Funds already allocated for that purpose. If you still have a Concert loan balance, continue making payments under your loan agreement.
What Warranty Coverage Comes With Propel?
Coverage comes from several sources. It helps to distinguish repairs, installation workmanship, roof penetrations, manufacturer warranties, and performance guarantees.
| Coverage | What Your Coverage Includes |
|---|---|
| First five years: repairs and maintenance | SolSource Services provides a five-year Repair Promise and maintenance services for valid covered claims, subject to the limited warranty. |
| First five years: performance | A five-year performance guarantee measures cumulative production against the contract’s guarantee. Compensation follows its calculation and exclusions. |
| Installation workmanship | The installer provides the workmanship warranty. The sample lists five years; SolSource Services arranges covered corrections through its Repair Promise. |
| Roof penetrations | The sample lists a ten-year installer warranty for roof leaks caused by the solar installation. This is separate from a warranty on the entire roof. |
| Equipment | Manufacturer warranties depend on the panels, inverters, and any batteries installed. Review the specific products and warranty terms in your proposal. |
| Ongoing asset management | The sample provides solar asset management for the 25-year initial term, including after purchase. Monitoring and warranty-claim coordination are distinct from a promise to pay all repair costs. |
Public Service Solar’s Platinum Promise After Year 5
At the year-five ownership transition, homeowners can switch to Public Service Solar’s Platinum Promise for $10, providing lifetime workmanship coverage under the written warranty terms. Our team will explain how to activate that coverage when ownership transfers.
The Platinum Promise covers installation workmanship. It is separate from equipment manufacturer warranties and the Propel performance guarantee. Review your written warranty for its scope, exclusions, and conditions.
What If I Sell My Home?
Before the end of Contract Year 5, the ESA can generally be transferred to the buyer under its conditions, including assumption of the elected Early Buyout. Alternatively, the seller may purchase the system using the agreement’s applicable purchase provisions. An earlier purchase can have different costs from the planned year-five buyout.
The loan must also be addressed separately: transfer to a qualified borrower if permitted, or payoff under the lender’s requirements. After you have purchased the system, a home sale involves equipment you own, while any outstanding loan remains subject to its terms. If you opted out of the Early Buyout and sell after year five, the sample requires the new homeowner to purchase the system.
Contact PSS and the lender before listing your home so you can review notice requirements, transfer procedures, purchase amounts, and any administrative fees.
See How a Propel ESA Would Work for Your Home
Public Service Solar can walk you through the project amount, financing, SREC waiver, year-five ownership transition, and warranties before you sign. We’ll help you compare the proposal with your other solar options.
Prefer to call? (844) 700-9782
Program availability, financing, and coverage are subject to qualification and current terms. Your signed ESA, SREC waiver, loan documents, and warranty documents govern your project.
