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All About NRG Solar and Its Services

One of the major home photovoltaic leasing companies is known as NRG Solar. It is owned by publicly traded utility NRG Energy. This corporation’s stock symbol is NRG, and it was founded in 1992, according to Reuters. The solar division was established in 2011 and headquartered in New Jersey.

NRG Solar Plans

This company made news in early 2015 when CEO David Crane talked about NRG Solar’s intention to boost its photovoltaic generating capacity from 500 megawatts to 875 MW in 2017. This could help it compensate for falling utility revenues, according to Bloomberg.

Solar Leases

All residential NRG Solar panels are installed after homeowners sign leasing agreements with the company. Clients sign 20-year contracts with no start-up costs. After two decades, the firm will take down its panels for free, let homeowners buy them or grant five-year extensions.

Guarantees

This firm handles all repairs and maintenance. It insures the panels and provides a warranty on any roof penetrations. Furthermore, homeowners receive a guarantee that their photovoltaic energy systems will produce a minimum number of watts. The company supplies compensation if they don’t.

NRG Installation Process

The NRG Solar staff and contractors handle the entire installation process. They arrange permits, design systems, set up equipment and perform inspections. The cost of installation and equipment is included in monthly lease payments, so customers don’t need to take out loans or save up thousands of dollars beforehand.

Monitoring

Another free service is solar panel monitoring. This company monitors photovoltaic equipment at all hours to determine if maintenance or repairs are necessary. Clients seldom need to inspect NRG Solar panels or report problems. However, monitoring requires that the customer have Internet access.

Generators

Leasing programs usually supply grid-tied panels that don’t have backup batteries. They can’t provide homeowners with electricity during utility outages. Homeowners who want backup power have the option to lease generators from this company. Its staff helps each customer select a suitable model.

Rating

This firm has earned a relatively high rating from the Better Business Bureau. The BBB accredited NRG Solar and assigned it a “B+” grade. It reports that 13 customers have complained about this company during the past 36 months. Employees responded to all of the complaints.

Referrals

This firm’s customers can benefit from referring new residential clients. The NRG Solar referral program pays $500 when someone refers a new customer using a phone number or online form. However, it may take over two months to receive the bonus. Some basic contact information is necessary.

Basically, NRG Solar is a company that enables homeowners to benefit from solar energy by renting the panels. It offers this service in Texas, Arizona, California, Hawaii and several northeastern states. The firm has plans to begin signing leases in additional parts of the U.S.

Updated: 7-29-15

Sources:

1. Reuters, http://www.reuters.com/finance/stocks/companyProfile?symbol=NRG
2. Bloomberg, http://www.bloomberg.com/news/articles/2015-01-15/nrg-sees-home-solar-push-as-conventional-power-unit-pressured
3. BBB, http://www.bbb.org/new-jersey/business-reviews/solar-energy-equipment-and-systems-dealers/nrg-home-solar-in-manasquan-nj-90160842/
4. NRG Home Solar, http://www.nrghomesolar.com/