The standard disclosure form shall include an addendum that applies if a solar retailer is proposing to enter into a power purchase agreement with a potential customer. The power purchase addendum shall include:

(1)  The following statement: “You are entering into an agreement to purchase power from an energy generation system. You will not own the system installed on your property. You will not be entitled to any federal tax credit associated with the purchase.”;

(2)  Fields requiring information about whether the power purchase agreement may be transferred to a purchaser of the home or real property where the system is located and, if so, any conditions for a transfer;

(3)  A field to indicate whether the solar retailer will obtain insurance. The field shall be accompanied by the statement: “If indicated above, the solar retailer will not obtain insurance against damage or loss to the system and the customer is responsible if there is damage or loss to the system.”; and

(4)  Fields requiring information about what will happen to the system at the end of the term of the power purchase agreement.

History of Section.
P.L. 2022, ch. 255, § 1, effective June 28, 2022; P.L. 2022, ch. 256, § 1, effective June 28, 2022.