Tesla Solar Payoff Request Everything You Need To Know

Tesla Solar Payoff Request: Everything You Need To Know

Are you looking to pay off your Tesla solar system? Want to understand the process for releasing the lien or transferring ownership when selling your home? You’ve come to the right place.

In this comprehensive guide, we’ll cover everything you need to know about Tesla Solar Payoff Request, including:

  • How Tesla solar financing and ownership works
  • Steps for paying off your solar system
  • Process for transferring panels when selling your home
  • Lien release process
  • FAQs on solar payoff requests

Whether you financed your solar panels or a solar roof with Tesla or bought them outright, this guide has the details to help make the payoff and home sale process smooth. Let’s get started!

Overview of Tesla Solar Financing and Ownership

Most homeowners choose to finance solar panels or solar roof products through Tesla rather than buying them outright. Here’s an overview so you understand how the financing process works:

  • Tesla Financing – You pay $0 down, Tesla installs the system, and you make monthly payments over 10-20 years to cover system costs. Tesla has ownership until it’s paid off.
  • Cash Purchase – You purchase the solar system upfront and have full ownership. No financing or loan is involved.
  • Power Purchase Agreement (PPA) – Tesla installs a system at no cost and sells solar energy generated back to you at a fixed rate. Tesla maintains ownership.

With financing or a PPA, Tesla files a UCC-1 fixture filing which gives them an interest in the solar system. It’s like a lien to protect their asset.

Once your solar panels or roof are fully paid off or you buy out the balance, Tesla can release this filing so you have outright ownership.

Now let’s get into the steps for paying off your solar system.

How to Pay Off Your Tesla Solar System

How to Pay Off Your Tesla Solar System
Tesla Solar Payoff Request: Everything You Need To Know 5

If you financed solar panels or solar roofs with Tesla either directly or through a home improvement loan, here is the process you’ll follow for early repayment or paying it off once payments are complete:

Early Repayment and Paying Off Loan Balance

  • Log in to Account – Login to your Tesla account and access account details to view your current loan balance.
  • Call Tesla Support – Contact Tesla Energy support by phone or email. An advisor will confirm the details.
  • Make Payment – Send payment by check, wire transfer, or ACH payment. Include your Tesla Energy account number.
  • Receive Confirmation – Tesla will send a confirmation once payment is received and your contract shows paid in full.

Once Tesla confirms your financing contract is paid off, you own the system outright!

Paying Remaining Balance When Selling Home

If selling your home before completing monthly payments, here are your options to settle the loan balance:

  • Pay off the loan – Make a payment to cover the remaining balance
  • Transfer agreement – Transfer agreement to the buyer so payments continue
  • Buyout then transfer – First buyout loan, then transfer panels

We’ll cover agreement transfers in more detail in the home selling section next. But first, let’s talk about liens…

Releasing Solar Panel Lien After Payoff

For financed solar systems, Tesla files a UCC-1 financing statement to secure their equipment asset. This is not the same as a lien. No lien is placed on your home.

  • The UCC-1 form is a legal filing that shows Tesla has an interest in the solar system until you finish payments. It attaches their rights to the equipment.
  • It simplifies transferring ownership if you sell a home before paying off the system.

Once your Tesla Energy financing balance is fully paid, you can request to clear this filing. Here is the solar lien removal process:

  • Contact Tesla Support – Email the energy products support team
  • Confirm payoff – Verify financing contract shows paid in full
  • Receive lien release – Tesla will execute and send the UCC-3 form to remove the filing
  • Review documentation – Confirm filing release with county records

And you’re done! With the filing cleared from public records and the contract paid, your solar system ownership has transferred 100% to you.

Transferring Tesla Solar System When Selling Home

Transferring Tesla Solar System When Selling Home
Tesla Solar Payoff Request: Everything You Need To Know 6

Selling you your house? Let’s cover what happens if your solar panels or solar roof installation is not fully paid off yet when transfer ownership to the new homeowners.

  • With Tesla financing, you have three options when selling before the contract term ends:
  1. Pay off the Remaining Balance
  2. Transfer Agreement
  3. Buy Out then Transfer
  • With a solar PPA agreement, the contact transfers automatically to a new home buyer
  • For cash purchase systems, no action is needed – you’ve owned it outright from the start

Below we break down how to navigate each scenario:

Paying Off Remaining Financing Balance

  • Determine payoff amount – Contact Tesla support to get the remaining loan balance
  • Make payment – Submit payment to the Tesla Energy finance team via check, bank transfer, etc.
  • Confirm payoff – Tesla will send an email confirming you’ve paid the contract in full
  • Transfer ownership – Send home sale docs to Tesla so they can transfer panels to the buyer

Once Tesla confirms the payoff, the new homeowner will take full ownership of the rooftop solar system.

Transferring Existing Tesla Energy Contract

If the buyer is interested in assuming the existing financing agreement rather than you paying it off, Tesla makes the transfer process easy:

  • Contact Tesla – Email Tesla Energy support with home sale date and buyer details
  • Sign agreement transfer – New homeowner signs Tesla agreement to consent to transfer
  • Submit home sale deed – Send a copy of recorded home sale deed
  • Update account – Tesla transfers the panel contract to the buyer for the remaining term

Now the monthly payments will continue seamlessly but be billed to the new homeowner.

Buying Out a Contract and then Transferring

Another option is first buying out your Tesla Energy bill balance, taking temporary ownership, and then transferring panels:

  • Determine buyout amount – Ask the Tesla Energy team for a loan payoff quote
  • Pay loan balance – Submit payment to buyout financing agreement
  • Transfer ownership – Send home sale records so Tesla can reassign panels
  • New owner signs contract – They would then start a new financing agreement

So in summary, you first settle the balance, take ownership, and then sign over the solar asset (not a contract) to the buyer for them to create their own financing or cash purchase contract.

Understand? Great! Next, we cover what happens for customers with a solar PPA agreement…

Transferring a Tesla Solar PPA when Selling a Home

Transferring a Tesla Solar PPA when Selling a Home
Tesla Solar Payoff Request: Everything You Need To Know 7

For homeowners with a Power Purchase Agreement:

  • No action required – Tesla solar PPA transfers automatically when a home sale closes
  • Update account access – New homeowner logs into Tesla account to access
  • Billing continues – Monthly bill stays the same but now charges the new owner

Simple! Tesla’s agreement stays attached directly to the home. Ownership does not change hands.

Now let’s get into some frequently asked questions…

FAQs on Tesla Solar Payoff Requests

Let’s wrap up with answers to some common questions on paying off and transferring Tesla solar systems:

How do I get a payoff quote for my solar loan balance?

Login to your Tesla Energy account and navigate to details or statements to see the remaining amount owed. Or contact their financing support team by phone or email to request an official payoff quote.

How long does Tesla take to release the solar panel lien or clear the UCC-1 form?

After verifying your financing contract shows paid in full, allow 1-2 billing cycles for Tesla to process lien release paperwork and file with the county.

Can I take ownership of the Tesla solar system when I sell my house?

Yes, if you first pay off the full remaining loan balance you can take ownership before transferring panels to the new homeowner.

What if the new owner doesn’t want to assume my financing contract?

No problem! Just pay off the Tesla solar loan first, take ownership yourself, and then sign over ownership rather than transferring an active contract.

And there you have it! We covered everything from paying off your solar panels, releasing liens, transferring ownership when selling a home, details for both financing agreements and PPAs, and more.

In Summary…Key Things to Remember

  • Contact Tesla Energy support for all payoff quotes and home sale transfers
  • Financed systems have a UCC-1 filing that must be released after the payoff
  • For financed solar, choose to pay off, transfer agreement to a new buyer, or buyout contract then transfer ownership
  • Solar PPA agreements automatically transfer to new homeowners
  • Have the exact Tesla Energy account number ready when contacting support
  • Loan payoff payments can be made by check, wire transfer, or ACH
  • Confirm lien release paperwork is filed after paying off the solar agreement
  • Submit home sale deed and documents to Tesla when transferring panels
  • New owners can choose to start their financing agreement
  • Access your Tesla Energy account online for statements and details
  • Payoff quotes, lien releases, and ownership transfers may take 1-2 billing cycles
  • Selling your home? Notify Tesla Energy support early in the process

We hope this guide covered everything you need to know about paying off your Tesla solar panels or solar roof system. And details to make transferring ownership smooth when selling your home.

Let us know if any other questions come up! Tesla’s customer support team is here to help.

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