Idaho § 48-1806 - Contents of disclosure statement for system purchase agreement

§ 48-1806. Contents of disclosure statement for system purchase agreement

If a solar retailer is proposing to enter a system purchase agreement with a potential consumer, the disclosure statement required in section 48-1804 , Idaho Code, shall also include:

(1) A statement with substantially the following form and content: "You are entering an agreement to purchase an energy generation system. You will own the system installed on your property. You may be entitled to federal tax credits because of the purchase. You should consult your tax advisor.";

(2) The price quoted to the potential consumer for a non-financed purchase of the system;

(3) If the system purchase agreement is not an outright purchase and requires installment payments:

(a) The interest rate charged and a schedule of required and anticipated payments from the consumer to the solar retailer and any third parties over the term of the system purchase agreement, including application fees, up-front charges, down payment, scheduled payments under the system purchase agreement, payments at the end of the term of the system purchase agreement, payments for any operations or maintenance contract offered by or through the solar retailer in connection with the system purchase agreement, payments for replacement of system components likely to require replacement before the end of the term of the system purchase agreement, and any prepayment penalties; and

(b) A figure that reflects the total amount to be paid by the consumer pursuant to the charges set forth in paragraph (a) of this subsection;

(4) A statement indicating the charges associated with insuring the system against loss or a statement that loss insurance is not included within the schedule of payments under the system purchase agreement;

(5) A statement, if applicable, with substantially the following form and content: "You are responsible for obtaining insurance coverage for any loss or damage to the system. You should consult an insurance professional to understand how to protect against the risk of loss or damage to the system. You should also consult your home insurer about the potential impact of installing a system."; and

(6) Information disclosing whether the system purchase agreement is transferrable to a purchaser of the home or real property where the system is located and, if so, any conditions for a transfer.

[48-1806, added 2019, ch. 267, sec. 1, p. 784.]