Palmetto financing

Palmetto LightReach: a lease on home energy equipment. Palmetto owns the system and you pay a monthly amount for it.

Palmetto

Type: Lease
Palmetto website

Who Palmetto is

Palmetto is a home energy company based in Charleston, South Carolina, founded in 2010. Its LightReach program puts solar and battery systems on homes under a lease or power purchase agreement.

LightReach Energy Backup is a battery-only lease that works with or without solar. Installers have to be approved by Palmetto.

What you get

A lease, not a loan. Palmetto owns the equipment, maintains it and replaces it if it fails under the agreement. You pay a monthly amount instead of buying the system. Because Palmetto owns it, Palmetto claims the tax credit, not you.

How it works with Chief Electric

  1. We check whether a battery or solar system fits your home and panel
  2. We confirm LightReach is available for your utility and address
  3. Palmetto runs its approval and sends the lease agreement
  4. You review and sign with Palmetto
  5. We install the equipment
  6. You make monthly lease payments to Palmetto

Before you sign

  • You do not own the equipment during the lease.
  • At the end of a battery lease you can usually renew, buy it out, upgrade or have it removed. Check your agreement.
  • If you sell the home, the buyer usually takes over the lease.
  • Availability depends on your utility and address. Ask us to check before you plan around it.

Paying after the job

Payments go to Palmetto, not to Chief Electric. Your lease agreement explains how to set up your account.

Projects to ask about

Palmetto questions

Do I own the battery with Palmetto LightReach?

No. Palmetto owns it and leases it to you.

Who maintains the equipment?

Palmetto, under the lease.

Who gets the tax credit?

Palmetto, because it owns the equipment.

What if I sell my house?

The buyer usually takes over the lease. Your agreement has the transfer process.

Other lenders we work with

All financing is subject to credit approval by the lender. Chief Electric is not a lender and does not make credit decisions. Rates, terms and availability are set by Palmetto and its lending partners and can change; your loan, card or lease agreement controls. Palmetto is a trademark of its owner. Chief Electric is an independent contractor.