Ucc Solar Panel

Many people who purchase solar panels do so with the help of a loan and others choose to lease their systems to save on the cost of installation.

Ucc solar panel. The ucc 1 fixture filing is a public declaration of our interest in the solar energy system. Many energy companies offer substantial subsidies but the cost can still be quite high. Featuring guest contributor greg field solar home realtor as a homeowner you authorized a uniform commercial code 1 ucc 1 filing when you received a loan to add solar panels to your home. It is a financing statement confirming tesla s ownership and or financial interest in the leased or financed solar equipment.

The solar nerd community has information on hundreds of thousands of solar installations around the country including some near you. Solar panels can save you money on energy bills but they can be quite expensive to install. The ucc 1 form places what is essentially a lien against your leased or financed solar power assets pv panels electrical wiring inverter batteries and any other related equipment used as collateral by the entity financing your solar system. Ucc 1 fixture filing for home solar panel systems some people call the ucc 1 a lien but it can also be referred to as a financing statement and commonly goes by the name fixture filing.

Fixtures are defined in section 9 102 of the ucc as goods that have become so related to particular real property that an interest in them arises. If a ucc fixture filing is in the land records as a priority senior to the mortgage loan it must be subordinated. Although the solar panel system will be attached to a particular home the ucc 1 financing statement will show the true owners it ll show that the homeowner is simply leasing the. It helps prevent the sale of our equipment without our knowledge.

It is not a lien on your home. Our map will let you browse these systems in detail and learn more about your neighbors who have joined the solar revolution. The source of confusion. To file the agreement the authorized ucc 1 is filed with the secretary of state sos and the county where.

Sometimes as referred to as a ucc 1 filing a ucc 1 fixture filing or a ucc 1 lien this is a public document that the owner of the equipment the solar company files to indicate that they have the legal right to repossess the solar equipment in the event that the debtor you the homeowner fails to keep up with their payments. Our solar panels are low profile and durable quietly converting sunlight to energy for decades to come.