Name: New to TPO: Introduction to Third-Party Financing
Uploaded: 2025-10-16T19:16:06.147Z
Duration: 44 min
Description: New to TPO: Introduction to Third-Party Financing

Transcript for "New to TPO: Introduction to Third-Party Financing": Hello, everyone. We're gonna get started here in just a moment. Let some folks trickle in. Alright. I think we're seeing good amount of folks coming in here, so I think we can kick things off. So hello, everyone, and welcome to our webinar, new to TPO, an introduction to third party financing. And to answer your first question, yes, this webinar is being recorded and will be sent out to all of you afterwards if you want to rewatch or share with your colleagues. My name is Steven Gerken. I'm a senior product marketing manager here at Aurora Solar. Thrilled to be joined here today by Troy Roble, senior vice president of business development residential at Palmetto, who will be driving most of the great content that we have here for you today. So, Troy, I'll pass it over to you to give an introduction to yourself and get us kicked off here. Thanks, Steven. Welcome, everybody. My name is Troy Roble, the SVP of business development here, at Palmetto LightReach. Been in the business for about fifteen years, spent quite a number of years, bouncing around the industry. Very excited to be here working with with Aurora and presenting this timely information to you guys. So what we are going to cover today is, third party ownership. What is it? What does it mean? Why Palmetto? Why LightReach? Why LightReach and Aurora makes sense? And how, Aurora and LightReach integration works with the demonstration. So first of all, what is third party ownership? So third party ownership, really means a third party is actually owning the system. So the homeowner is not going to own the system. Somebody else is going to finance that system. They're going to pay for the construction of that system. The homeowner has agreed to is agreeing to take the electricity from that system, and pay for it in the form of monthly payment. So we often refer to third party ownership as TPO. You'll hear that as the acronym. It comes in two different formats. There is a PPA or power purchase agreement, which literally means that the homeowner is contracting with the system owner for a specified rate per kilowatt hour. So think 15¢ per kilowatt hours for twenty years. There's also a lease. A lease is leasing equipment. Think of leasing a car. Think of leasing a tractor or a forklift or something. I'm leasing a seven k w system for a $100 a month. So for a homeowner, they don't really notice the difference between a PPA or a lease because really what they're looking at is a monthly payment. But we either offer a lease or a PPA depending upon what the local jurisdiction, might require. Like an example, Florida and Arizona, PPAs are not allowed, so we offer leases. Bring it up to the next slide. So why would a homeowner choose third party ownership? Well, it creates a different relationship with your utility. You'll often hear third party ownership presented to a homeowner as, hey. The the difference between this is you're just switching utilities instead of paying Pacific Gas and Electric, say, you're paying LightReach and you're contracting with that company for a specified rate for twenty five years, you're getting predictability over your energy usage for the for the foreseeable future. That is going to allow you some peace of mind because you can then customize your your rate schedule that fits your needs. If you look at residential versus loans, You know, loans involve high interest rates or variable interest rates. There can be dealer fees. There's also a complexity of a homeowner having to take credit for a tax credit, so they may or not be able to get. And so TPO ownership is going to simplify that. The third party owner, in this case, LightReach, is going to take the advantage of the tax credit and the incentives. They're going to monetize that, and they're going to convert it into a monthly payment that's digestible for a homeowner. They're also going to allow the EPC to have what's called an escalator, so you can customize the rate for the homeowner. An escalator means the rate at which the, payment will go up over time. If you've ever had an adjustable rate mortgage, it's kinda similar to that. So at the end of year one, the escalator would kick in. At the end of year two, the escalator would kick in. So we give EPCs the option to, customize that per homeowner. So you can go with the 0% escalator, a point nine nine escalator, a one nine nine escalator, or a two nine nine nine escalator. What that does for a homeowner is it will impact their savings. Homeowners will sometimes go with a higher escalator if they want the lowest possible monthly payment. Maybe they think that they're going to move in five years or seven years, or they think they might get a promotion later down the line, and they just wanna save the maximum amount of money possible, they might choose a a a higher escalator. Reverse of that is, let's say, somebody's in retirement. They want predictability. They want a fixed income, or they're on a fixed income. They want a fixed payment. You could do a 0% escalator or a point nine nine escalator, which will lock that payment in over the full duration of that time period for, for the homeowner. It provides them that predictability. We there's also a lot of protective requirements with third party ownership, which means, you know, we're reviewing the proposal, the production that was estimated to the to the homeowner. We're we're reviewing the actual installation. We're making sure that the system was designed and installed and built for the plan sets. There's photo requirements that we're doing. And so all of that comes in to really protect the homeowner and ensure that that homeowner is going to get a system that is going to produce what was promised to them at the time of sale. That comes in the form of a production guarantee. And what the production guarantee, it's literally, you know, a guarantee that the system is going to produce x amount of kilowatt hours through the duration of that contract. The contract is twenty five years. The production is estimate or is, listed in the contract for the full twenty five years. And every three years, there's what's called a true up period where the homeowner will receive a statement. Here's what was promised in the contract. Here's what was delivered by the system. If it's below 90%, they get a bill credit in the amount that they were short. So that's literally putting your money where your mouth is. That occurs every three years, with the homeowner in the form of a production guarantee. So if you look at how LightReach, energy plans compare to say loan or cash, You know, with the LightReach energy plan, there's zero out of pocket. It's coming in the form of a monthly bill. There's no extra fees or dealer fees. We do give the production guarantee, which I mentioned. There's a soft credit check, and then the system owner, in this case, LightReach, will take on the ownership maintenance and, also the monetization of the tax credits. If you look at a loan, you know, a loan also can have a monthly payment. Generally, there's some type of fees associated with them. It's usually a hard credit check. They're looking at DTI, so it's a little bit harder to qualify as well. And then the homeowner is responsible for the ownership, the maintenance, and they're also responsible, for a tax credit, which is expiring at the end of this year, you know, through the OBB. With cash, it's a much higher barrier to entry. You gotta have the cash upfront. You're not getting a monthly payment. And again, you gotta take on the ownership and maintenance of it. So why would you choose Palmetto? So at Palmetto, we wanna be more than at LightReach, we wanna be more than just, you know, a a finance partner. We're trying to build smart systems that are going to meet the needs of a homeowner as this grid is changing, as the industry is evolving. You know, what one of the things that makes us different is that we own this system for twenty five years. No other finance partner does that. Most of them flip it. And so because we own that system for twenty five years, we wanna make sure that we're giving homeowners the tools and the resources to be able to manage their energy, effectively to save money. And we also wanna be able to evolve as the industry evolves and technology evolves to be able to continue to deliver solutions that are gonna meet the homeowners' needs. And so to that end, we have a Palmetto app that has integrations with all of our hardware and finance or software partners, that takes a lot of complex data and puts it into a really easy and digestible format for a homeowner to be able to see how their energy is being used and how their system is is producing and how they can manage it effectively to ultimately save more money. We're also introducing an HVAC product. We're looking at backup storage leases. So we wanna continue to evolve as this industry evolves and the homeowners needs evolve, over time. And so why would a EPC wanna choose LightReach? Well, ultimately, we're gonna help the EPC convert more homeowners, and we're gonna hopefully help you get paid faster. There's a couple of ways that we can do that. And so when we talk about converting more homeowners, you know, the way that people qualify is through a soft credit check, $6.60, FICO only, no debt to income. We do a seven year look back on bankruptcies, but it is a soft credit check. It remains a soft credit check throughout the duration of that project. It will never hit their credit report. We I mentioned the Palmetto Home app. We do have a fully integrated digital experience for homeowners to pay their bill, sign their contracts, manage their energy usage, all done through the Palmetto app. We've got very competitive rates, versus, you know, loans or traditional avoided cost of power from the utility. And one of the things that makes us unique is that we guarantee savings. So we do not allow, sales reps or EPCs to sell a LightReach Energy plan for higher than the avoided cost of power. So a homeowner will always pay less money for a LightReach Energy plan than they would versus their utility. We don't have to take down payments. There's no out of pocket, requirement. And we have a payment schedule, for our EPCs that, you know, is very favorable. They get payment when there's a glass on roof. They get payment also at PTO. We call that m one and m two. So glass on roof m m one, PTO is m two. And then again, we have the protection with the production guarantee for the homeowners throughout the twenty five years. If you include a battery in the system, that also includes the battery. So a lot of homeowners and a lot of sales reps and EPCs really like the fact that when you pair solar plus storage on the LightReach Energy plan, it does include the full twenty five year, and we are factoring in for a battery replacement, during that time frame. So that is a really big feature. I wanna make sure people drive home without one of the differences between TPO and say cash alone. Battery warranty really lands with homeowners, and so make sure you're highlighting that. And then I mentioned the new products that we're working on too. We recently launched an HVAC lease, back in about June, and we're in pilot phase right now with a backup, energy storage lease. We're gonna continue to evolve those products to deliver solutions to our EPC partners so that they can continue to sell products to homeowners, throughout that lifetime of that relationship. One of the ways that we like to try to help you guys get paid faster is, you know, by a lot of our software integrations. So Palmetto is really a software forward company. You know, we have integrations with a lot of the leading CRMs out there on the back end to help you with. We have quite a bit of, API integrations directly with our EPC partners, if you're interested in that. And then we also have quite a bit of resources to help you educate yourself, interact with us, get feedback with us, and a lot of that comes from our support and knowledge base, center. It's a very robust tool. It's help.palmetto.finance. We have a chat feature, a support feature, which I'll show a little bit later in there. But that team is available, you know, eighteen, sixteen hours a day almost, throughout the time zones. They generally respond in under thirty seconds. We've got all types of videos and support on anything that you could ever want to know about LightReach that's in the knowledge base. So that is at help dot palmetto dot finance. Again, if you wanna write that down, I will send that out as part of the follow-up. We also have a very deep and talented capital markets team. You know, in today's environment, trusting a finance company with, your pipeline is important. We have announced publicly that, you know, we've already raised enough money for all of 2026, for our forecast for next year. So we're fully funded through 2026. We have robust financing partners and relationships. We've got many different joint ventures with them, and, you know, we've got roughly 1,400,000,000.0 of tax already committed for next year. So you can trust us that, you know, we will help you pay your pipeline out and be here for the long term. And then again, you know, we've got great terms that allow you flexibility to customize it to to meet your needs of your partners, I'm sorry, to meet the needs of your homeowners and your markets. And another thing that people really like about our financing is that, know, we generally have more less change orders, particularly with some of this integration that we have with Aurora Solar, which I'll speak to. But, you know, we have a minus five to plus 10 tolerance for change orders, which, you know, when you're on-site, things come up, you gotta change something. Don't wanna get your crews slowed down to have to get approval for a change order. So we allow you the tools and the flexibility to execute that yourself, which ultimately allows you to keep your crews working and being more efficient and get paid a little bit faster. So why LightReach and Aurora? Well, Aurora is a great end to end tool. You know, you can use it as an individual design tool. You can use it as a as a proposal tool or what a lot of our our partners are doing right now is using the end to end sales integration, where you can get an instant design, you can run credit, you can send contracts, you can really take that homeowner from start to finish with, with the integration with Aurora. And so Aurora is also extremely supportive. We work in collaboration with them and some of their account managers, to work through any any individual configuration issues or questions that an EPC might have or if there's a issue on a project that we need support with. My team and my relationship manager team works with, the team over at Aurora to really provide that end to end project level support, for our EPC partners that I know really resonates and ultimately helps have a higher, you know, business impact on your profitability. So some of the stats that we've seen with Aurora, you know, we look at first time approval rate. That means when you submit to get paid, does it get approved or rejected? We generally see not generally. What we've seen against the average is a 15%, improvement versus the the average with Aurora. When we look at submissions per approval, that means how many times do I have to submit a job before it gets approved. We see a 25% improvement on, lower submissions. That means people have to submit less times. We get 15% less missing flags when people use the Aurora Solar integration. And we see the timelines to actually get reviewed and improved, decrease about 30%. So, you know, overall, you know, roughly 50% of our partners use Aurora Solar, and, they have a very high level of success using the integration. And so with that, I'm gonna kick it back over to Steven to talk about that a little bit. Awesome. Yeah. Thanks for running us through all that, Troy. Yeah. Really excited to see just those stats and the impact that it's had, for a lot of the installers out there. But, yeah, as Troy talked about, together, Aurora Solar and LightReach have really partnered just to help you convert more homeowners through tailored and customized designs and proposals and get paid faster with that industry leading level of speed and accuracy. And with our integration, this gives you that ability to access LightReach products directly within Aurora Solar sales mode. So now you can use Aurora Solar NREL validated three d designs and accurate data to build trust with homeowners and confidently present monthly payments and savings estimates without needing to run all of those calculations yourself, really presenting in a digestible way that makes it easy for homeowners to understand. And then you can apply for LightReach TPO directly within the proposal to streamline those preapprovals and send out all of the necessary financing docs. So really allowing you to design and quote, finance, and deliver your projects all within the same platform to help keep your deals moving forward. So I'm gonna jump into a demo in just a minute here, but just wanna give a very high level overview of how the integration actually works. So once you've set up your LightReach integration in Aurora, you've entered in the customer's energy usage information and created a design. You can select the Palmetto LightReach from the financing page within your proposal, which will then show you a prefiltered list of leases and PPAs available based on the utility or the state where your project is located in. And then we pass all of those design details to LightReach, and you'll be able to see and view, to view and select a solar rate, which clearly shows you the breakdown of estimated monthly payments and the associated EPC price per watt so that you can select the best rate option. And once you've selected your rate, you can then present the calculated year one monthly payments, the lifetime savings, and even compare multiple LightReach financing options, and then apply through the LightReach credit application to get preapproved and send out the financing documents, again, all within the same proposal within the same platform. So with that, I'm actually gonna jump into a quick demo to show you how this all works in practice. Alright. So I'm gonna give a high level overview of how to quote LightReach TPO in Aurora. So starting off in this project, assuming that I've entered in the customer's address and contact details. So I'll jump right into sales mode, which is Aurora Solar interactive proposal tool. So first, I'll go ahead and enter in their energy usage information and just ensure that the utility rate that was automatically pulled in here is correct. And there's a number of different ways that you can input energy usage depending on what information that you have available. But let's just say that I know that they used a thousand kilowatt hours in the month of September. I'll input that here, and Aurora Solar will extrapolate out their consumption for the rest of the year. And once I've entered that in, I'll jump straight into design the system. So first, I'll use Aurora Solar AI here to quickly design the site model, which will generate that three d model for me in 15 or less, automatically identifying any roof obstructions and using lidar to make sure that the roof has the correct height and pitch. So I have my three d model here, and I can even go ahead and run a shading analysis, to see what the best roof like roof base is to put solar are. And next, I'll go ahead and design the system. So I'll select my panel type, and I can even see the panels from LightReach ABL that I've enabled in my account. So I'll select this one and click place. And here, Aurora Solar is going to automatically design a system for me, placing modules on the roof in the areas with the highest production and avoiding obstructions, step backs, and fire pathways. And because I have a target energy offset to 100%, it's going to design that system to offset at least 100% of their energy usage. But I can always come in and redesign the system as needed. So if the homeowner says that they want all of the panels on this roof face, I can toggle these off and toggle on additional modules here and see how that impacts the energy offset up here. And so this really empowers you to design a system that really meets the homeowner's needs and their goals. And so next, I'll click on finalize to run the final production simulation, And then I can add in battery storage here. Select my battery model, and my consumption schedule is self consumption or energy arbitrage or even add backup here and see how that affects the bill savings with solar only versus solar plus a battery. And then I can come into pricing and add any adders, discounts, or incentives. And then I'll jump into financing, which is where I'll be able to select my LightReach TPO product. So I'll select LightReach and select the product that I want to quote here, enter in my California license number, answer a couple questions about electrical upgrades and battery and operating mode. And now with our integration, Aurora Solar is passing all of the design details to LightReach and returning a solar rate table. And this will give you a number of rate options to choose from, and this includes the solar rate, the estimated monthly payment, the base price per watt of the system only, the price per watt of any add ons like adders, discounts, or battery storage, and the gross price per watt or EPC price per watt, which is the amount that the EPC will receive for the project. I can also see up here the system yield and the pre solar rate, to help inform your selection. So once I've selected my rate option here, I'll click on save. And here, Aurora Solar will calculate out the year one monthly payment, and I can even expand the details here to see the cumulative and annual cash flows and even the lifetime expected savings. And I can even compare multiple LightReach options to give your customers an apples to apples comparison. And then if the homeowner is ready to proceed, you can click on apply now to launch the LightReach credit application. And here, you'll just double check the fields, write in any missing information, review the disclosures, and submit. And then if the homeowner is approved, you'll see this approved status here, and you can go ahead and send out the financing docs directly to the customer via email. So that's a very high level overview of how the LightReach TPO integration works in Aurora Solar, allowing you to quickly and easily create an accurate system design tailored to your customer's needs and seamlessly quote LightReach TPO products with numbers and savings estimates that you can feel confident in. Alright. Yeah. So with that, just wanted to share, a few examples of the impact this has had out in the field, to save installers real time and real money. So with our world energy, serving markets in the Southwest US and Illinois, now quoting over 85% of their projects using TPO with a 70% reduction in change orders from 40 to 10% for TPO jobs. They've attributed this to having just a unified platform that helps just ensure accuracy, reduces rework, and allows them to handle TPO projects seamlessly. New Day Solar in California has seen a 20% increase in engineering capacity and over six hours saved per project from not having to bounce between multiple tabs, no second calls or rework, and no mistakes. And that really does add up quickly, especially if you're selling tens or hundreds of projects a month. That can amount to days or weeks of times that you can get back to focus more on, other tasks elsewhere. And I think that's really the key here. Just as you get started selling TPO, it's really important to keep it simple and create that tailored solution for each customer, but to also do so efficiently to make sure that your deals are moving forward without those mistakes so that you can ultimately get paid faster. And I think our partnership with, between LightReach and Aurora Solar really helps to, set set yourself up for success on that front. So now I'll pass it back to Troy for some closing thoughts here and next steps, to round us out before we get into q and a. Thanks, Steven. So what I'm showing here on the screen is the knowledge base, a couple of screenshots. I I dropped it into the q and a and also into the chat, help.palmetto.finance. Click it, bookmark it, save it. I mentioned to everybody, you know, I've been doing this for fifteen years. Some of you might have heard me pitch you before on LightReach. I've said this since I started. Our our knowledge base is the best tool I've ever seen in the industry from a support standpoint. You can self serve. There's a search bar in there. You can try to break it. You know, I see a lot of questions in the chat, which I will try to address when we get there. But anything we don't get to, anything that you forget to answer, to ask, go on the knowledge base, type it in the search bar. 99% of the time, we'll we'll have an answer. Try to see if you can break it. We've even built a cool AI feature in there, which is gonna help talk about, ABL and some of the complexities around equipment, which we will get into at a later series. But, we have a lot of resources for you. We have a support team that's available, via chat, you know, at all times of the day. I've got 14 relationship managers on my team spread around the country to help support you guys. So we are here to help you guys make this transition. That's the biggest thing I want to get across to you. There's lots of tools, lots of resources. We wanna help partner with you guys on that to help you make this transition. And to that end, you know, next steps, what would you do? You go to the web page. We've got the direct partner connect form address on here, or you can go to the mainpalmetto.com, go down to LightReach Solar, fill out the application. Our team will will reach out to you to to start that application process. It's pretty simple to get started. And, you know, a piece of advice that I would give you all is, you know, the biggest thing that I've seen when people have tried to transition from traditionally cash and loan to TPO is just struggling with a new process. Right? You all have your own same process. It's worked for you. Now somebody else owns the system, and you gotta adjust to their process. And, you know, it's not impossible, but it's changed. And your crew might not like change, and your lead or the foreman, like, people don't like change. And the easiest thing that you can do is simplify it for them, and the best way to do that is by using a photo capturing, software service. We have an integration with site capture. We have an integration with, LightReach and site capture. Aurora also has an integration with site capture. And Site Capture is a photo capturing software. And so, you know, for example, we require 16 photos of a job without a battery, that we need to verify for you to get paid. In Site Capture, there's a LightReach template. Your installer selects LightReach template. It forces them to take those photos every single time. It then takes those photos from the job site to our portal and uploads them into the customer's job site, folder for you, making it almost impossible to to mess it up. And, you know, that will help you get paid faster. And so if you leave with one thing with this, if you're starting to transition to TreePO and you've never done it before, take some time before you get started on installs to really nail your process down. Look at getting site capture. If it's not site capture, get some photo capturing software. But we have an integration, works really well. We've seen, you know, 59% faster approvals, 67% reduction in QC timelines, and two times, the speed to to funding. And, ultimately, that's what you guys want is to get paid faster. So there's a couple more stats, I think, on the slide, which I'll I'll I'll I'll go through here. So first time, my m one approve improvement rates, 9% better. Measuring overall success rates, we have 7% higher capture rate with site capture. Our first time approval rate, first time they're submitted is at least gonna be 55% on m two as well. And we have 20% of our our volume in growing week over week is is with site capture. So, again, please spend some time, work with us, talk to our team, interact with us on the chat and support, take advantage of some of the software integrations, and we will help you get through this and to, build build this transition together. I know we are planning to do more of these type of series with Aurora Solar, which I'll let them speak to, but we can now, I believe, transition to the next slide, which is q and a. Right? So q and a. Steven, are you gonna do this? Do you want me to do this? Or looks like a lot of them are for you, Troy. So I'll let you take it away. I know there's a lot of questions in there. So Okay. And these are on the left to right means that they're voted. Right? So I should just go from top to bottom? Yeah. Let's start with the ones with the most upvotes and work our way through. Gotcha. Alright. So what are the buyout options of a lease and what is the anticipated cost to buy out of that? So the buyout at a lease is determined by fair market value. And, fair market value is determined by a third party appraiser. That's gonna be true for every, finance option. You can't put a specific value on it. Otherwise, it's not a lease. It's a loan because it has a specified term on it. But to that end, we have an article on our knowledge base, which I'll link, here, in a second that talks about specific fair market value and how to present it to a homeowner. So we're not going to arbitrarily mark the system up. We believe in trying to make solar more affordable. You can think of, fair market value as the cost of a system minus the incentive or ITC, minus any other, you know, local incentives or rebates, plus some form of depreciation because it's a piece of equipment that's not as much. So it's not going to be arbitrarily marked up. They're not going to have to pay the future value of every payment in the future that they're foregoing. It's gonna look more like, you know, the cost of the system minus the incentives minus some depreciation. Let me come back over to the q and a. What's the next question? Are you guys gonna put up on the screen? Yeah. I can yeah. We'll pop up the next ones and keep working through them. Awesome. I love Goldcast. Prepaid lease. We are looking at a prepaid lease. Don't have one in the market at this point in time, but it's something that we are actively looking at, at at developing. Won't have anything won't have anything, you know, in the next month or two at a minimum. Next question. With the tax credit ending customers, I would have gone with a loan and pay off quickly to avoid the mortgages from now be looking at lease or PPA to buy at the end of five years. This is the same question about buyout and fair market value, that I just addressed. Okay. Let's go on to the next one then. Okay. Great question, Greg. So at the end of twenty five years, customer has three options. They can re up for another ten years, at their current, contract rate. They can have LightReach remove and replace the system, if they don't like the offer that we've given them, or they can sign up for a new contract for a new twenty five years with new equipment and new technology. So the homeowner controls the, you know, the options. Light reach will make them an offer, say, do you wanna sign up with a new term, with a new technology? We can replace the system. Homeowner can just say yes or no. Homeowner can say, I'll keep the existing equipment at the rate that they had for another ten years, or they say, I don't like the offer. You gotta come and replace the system, and we have sixty days to come out and remove or replace the system and and return the roof to working condition. Next question. What is the largest system you can sell to TPO and PPA? We do 25 kw, 150,000, lending limit. So homeowner gets approved, you can do up to $150,000 of of contracted value for it. But these are residential. I I meant to call that out earlier. We are strictly residential. I know that there's also some, you know, helioscope and commercial, crossover, but we are strictly 100%, residential and cannot finance anything but residential systems. It's the contract transfer a little homeowner sells the property. Yes. So if a homeowner goes to sell their house, there's two options. They can purchase the system for fair market value, or they can transfer the system to the new homeowner. So let's say they're in year three of the contract. There's twenty two years left. They can transfer the remaining twenty two years. The homeowner qualifies with the $6.60 FICO. They take over those payments for the next twenty two years, or the homeowner can get the appraisal, find out that it costs, let's say $30,000 They list that $30,000 in the purchase price of their home and they market the home as coming with a a solar system, that's paid off. So full flexibility either way works, whatever works for the homeowner at that time. Next question. In what state does LightReach offering a PPA product? That is a good question, Liz. We're currently in 32 states. And so if you use that, link that I put on there, the knowledgebasehelp.palmetto.finance, you can do a search under active utilities. It will show you not only all the states that we're in, but also all the utilities that we're approved in. But we're currently in 32, 32 states. I believe we cover about 90% of the residential, total addressable market, for solar, with our coverage. Next slide or next question, please. Does the homeowner need to include the system and their homeowner's insurance policy? No. They if there's a hailstorm, that would generally cut get covered under the, homeowners policy. So they need to let their, insurance company know that there's a system on the property and that gets included in the general policy of it. Next question. Can a homeowner use the virtual power plant feature of Tesla Powerwall threes with a PPA and LightReach? We are working through the VPP programs with, on a state by state level and incentive by level. So I would say that's specific to the your utility and the that we need to contact your local, relationship manager to discuss that specific, the specific use case. We are working with Tesla on that, And you can enroll in the programs, but there is some nuances to it that is based on just jurisdiction utility requirements that we need to work through. Next question. Yes, Jeremy. Twenty five year system coverage includes a battery for the full twenty five years. We we price in a replacement for that. Next question, please. Is the PPA available for solar plus battery systems in California? Yes, absolutely, Scott. Please, again, go to help.palmetto.finance on our knowledge base, search active utilities. We have every utility that's available in every state listed there for you. Next question. Shingle roof in Florida insurance company will not let homeowners go twenty five years without replacing Flint. So we're talking about an R and R. So in the case of an R and R, you know, the homeowner would contact LightReach to let us know that the system is going to be down. We would then create a service ticket to send back to the, installer assuming they're still in business and part of our our of our network. The homeowner goes in contracts with the installer directly to remove and replace the system. The homeowner pays the installer directly to remove and replace the system. The homeowner then lets us know that the removal and replacement has been done, and we turn the production back on, in terms of the contract. So all their homeowner has to do is let us know if the system's gonna be down and not producing for that period of time, and we put a pause in the production guarantee, and then we kinda restart it once the work has been completed, the system was up and running again. But we don't get involved directly with the collecting of the money or the replacing of the roof. The homeowner contracts directly with, you know, their local EPC or company to do that. They let us know that that that there'll be work performed on the system. And as long as, you know, it's with somebody that that is certified to work on our systems, it's no issue. Next question. How are service and repairs handled? So again, LightReach owns the system for twenty five years. So we're responsible for the production of the system. We're responsible for the operation and maintenance. So we have an operation and maintenance group that's dedicated to service our fleet of systems, in every state that we operate in. So if there's service that needs to be done, typically, the homeowner is gonna call the person who installed it. So they'll call the local EPC first. You're gonna have to direct them because we own the system first to do open up service ticket with us, just like I explained on the last one with the with the roof replacement, they'll open up a service tickets with us. We will then assign a service provider to go out and perform that service. Oftentimes, it's going to be the local installer should they still be in business and they wanna service it. We also have other installers who are not in that market any longer and need a local installer to produce the to to perform the service work. But LightReach maintains responsibility for all operations, maintenance, and service work for the full twenty five years. Next question. And I think with that, we are just about out of time for questions. I think that was the most questions that I've ever seen rapid fire through in a webinar, so props to you for getting through all of this. But, yeah, a lot of lot of great engagement here. Just wanna thank everyone for joining and thank Troy so much for coming on here and sharing all this great content. Really excited to see what LightReach is doing out there and, yeah, excited to kick things off. And, yeah, we do have some more webinars planned, coming up with LightReach in, the next couple of weeks, so stay tuned for more announcements on that. Again, we'll also be sending out this recording to you all, afterwards via email so you can rewatch it, share it out with your colleagues. And yeah. So just wanna thank everyone again so much for joining, and thank you again, Troy. Thanks, Steven. Have a good one.