not sure about the home owners association, but I though the model is the following:

A company like SolarCity is an installer of rooftop residential solar systems . The product offering is a lease where the Company retains ownership of the solar system and sells the power to the homeowner at a contracted rate. The lease typically has a 20 year term with an automatic renewal if the customer doesn’t terminate in year 20 and an annual escalator of 2-3%. The value proposition to the customer is derived from the fact that the Company sells the power to the homeowner at a 15-20% discount to the rate the homeowner pays to purchase electricity from the grid. The value proposition pitched to the customer is: put a solar system on your roof at no cost to you and the Company will save you 15-20% every month on your utility bill. The Company’s contracts contain escalators so it is impossible to predict if the power will always be at a discount to the grid. Historically grid power has increased at a rate closer to 3% per year (in excess of the typical SCTY escalator). However if grid pricing stops increasing tomorrow in approximately 8 years the contracted pricing would be higher than grid pricing. Personally I think it is a good bet that it will remain at a discount through the life of the contract.

The value proposition to the Company of the arrangement is an attractive set of tax credits and a highly valuable long duration cash flow stream created at a double digit yield on cost. The Company retains full ownership of the systems, and partially monetizing the cash flow through the sale of the tax attributes of the project to tax-equity investors and financing the system with either non-recourse term loans or ABS deals. The two major variables impacting the cash flow of the system are the default rate and renewal assumption. And of course the favorable subsidy from local governments has to persist. California just renewed theirs, but I think Nevada revoked theirs. Grandfathering is crucial here from a Company pov. That is probably not your concern unless the Company bankrupts.