newvy

I’ve been selling solar for 8 years. There are good companies and a lot of bad ones. Everyone has a contract and (Yes) they are all designed to protect the company. Ever bought a car? I worked in the industry for 20 yrs.
4ways to put solar on
1 cash (cash is king, w shortest roi)
2 finance no money down, save on expensive monopoly and cut price increases
3 lease (save on electric, but many downsides)
4 PPA you don’t own system just buy power at lower price ( I’m not a big fan as it’s not always the best for the customer)
I’ve had solar on my own home for more than 3 years (I ought it 4 years ago) and I can recommend it highly enough. Enough sun hits the earth in 20 minutes to power the entire world for 1 year. Feel free to pm me if you have any specific questions.

sippyjug104 Loc: Missouri

I'll share our interesting story....Our business was approached with an opportunity to install solar collectors on the roof of our 60,000 sq. ft. building. Because we were a full service design/build mechanical contractor and energy conservation was part of our services it would be a good opportunity to install 75-Kw of electrical generating solar panels.

Here's the interesting part. The installed price in round numbers was a bit over $250,000. The Return on Investment was far too long to make it worth doing. HOWEVER...! There were huge incentives and credits from the Federal Government and even some from the local utility although not that much.

When it was all said and done our "out of pocket" price was only $32,000...! A big thanks to the American Taxpayer that subsidised the solar business including Solyndra that got $535-million in taxpayer money that went bust.

brucebc Loc: Tooele, Utah

I don't know what state you are in but some states make it hard for solar to pay for it's self. We paid cash for our solar becausw there are so many problems with the finance type deals.
We looked-talked with 4 outfits before deciding. Three of them wanted to over sell the number of panels that we actually needed. They recommended 15 to 17, we have 10 and have only paid for power 3 months in 5 years. Fell free to pm me for more info.

andesbill

I live in Naples, FL. I bought a 10 kWh solar system 2 years ago. I love it. I produce extra energy, and intend to buy a Tesla to plug into the panels as well.
Don’t lease solar. You’ll probably have to pay it off if you sell your home.
FPL is being cute. The want to put their solar on your roof and charge you an additional $100.00/month. Or an additional $200.00 if you want a storage battery.

bcplimpton Loc: Southern New Jersey

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We have had solar electric panels (32) since 2011. In 2011 having mini-inverters on each panel was something new but very beneficial because if a shadow covers one inverter only that one is shut down. It was also welcomed by the fire departments since inverting the 600 DC to 120 AC at the panel makes it much safer for the firefighters if they are called.

In those days the "we'll own it and bill you" scam (IMHO) didn't exist. You paid full price for the panels, inverters and installation. There was a 30% Federal tax CREDIT as well as state tax incentives. That reduced the immediate up front cost by between 30% and 40% depending on the type of state incentive. For most homeowners a 30% federal tax credit represents the tax on three to five times the amount in income depending on your tax bracket. The electric company buys all excess production from you at the same rate they charge you. In NJ where I live that includes the delivery charges as well. In the spring month (around the beginning of April) the bill from the electric company is less than $20 if not just the single digit administrative fee. Also the NJ law sets targets for renewable generation for the electric companies. They can purchase credits for the electricity that you generate (all of it not just what they pay you for). In my 32 panel system these credits produce about $1500 a year. The break even for my system was a little less than 9 years not even half way into the 25 year warranty. We borrowed about 2/3 of the cost on an equity LOC and the monthly savings was more than the principle and interest payments even in the winter so the actual monthly dollar outflow went down.

In 2011 this was purely a construction project. The proposal itemized the specific type, make and model of both the panels and inverters and a specific list of the services provided which included acquiring all necessary approvals and permits and inspections, assistance in setting up software that connects to the maker of the inverters (they report back status and production every 15 minutes) so that we can monitor the system for both status and production since installation. The proposal also included their separate cost for removal and replacement of the double layer of roofing (only one layer was allowed below the panels) for us to compare with our trusted roofer. In addition they provided an Excel spreadsheet that described the system "as-built" showing any and all assumptions used for the production estimates and cost recovery. They reviewed all this in detail including how to adapt for any changes that affected the assumptions BEFORE we signed any contract.

Your mileage may vary depending on how important your public utilities commission believes renewable energy is.

The current offers (this is hearsay from friends and neighbors) is that some company will install a solar system on your house, own the system, convert the electric company billing from your name to theirs and Bill you at a predetermined rate for the power you use (generated and purchased from the electric company.) In at least one case I heard of that was considered a 20-25 year lease purchase agreement for the system when it would be transferred to you and the electric company billing be put back into your name just in time for the guarantee to expire.

The friends and neighbors that I talked to did not know what kind of panels, inverters, production capability and projected savings. Most of what they could tell me sounded a lot like campaign promises. Chasing the social media adverts provided very little information other than your zip code is eligible before asking for enough information to put you on a salesman's call list.

This type of deal may be helpful to someone who owns their home, has little to no savings or available line of credit and doesn't intend to move. If the promised delivered KWH rate times the annual KWH usage from the past few years is enough lower than the cost from the electric company to make a difference in their lives then they should go for it after having an attorney review the details.

bertloomis Loc: Fort Worth, Texas

If your object is to lower your electrical bill solar panels won't do it. Yes you will be paying the electric company very little but you will be paying the solar company alot. It will be just about a wash.

bcplimpton Loc: Southern New Jersey

You're right in the current "rental" proposals. If you can finance ownership you can win in the long run. Five digit savings in a little over 9 years.

bertloomis Loc: Fort Worth, Texas

I agree, but a 9 year payout on an investment is awful. Industry requires 2 years.

Bridges Loc: Memphis, Charleston SC, now Nazareth PA

When I lived in IN, a utility company there didn't want the expense of building a new plant and the state was experiencing some rapid growth. They offered home owners a very attractive deal. They would install a groundwater heat pump system at no cost to the homeowner. If the average electric bill was say 250.00, they would charge the owner that amount for 10 years after which they would own the system. The electric bill would then drop about 40% of what it would otherwise be. When I moved to the Lehigh Valley I bought a house that was all electric and the monthly budget billing was about 450.00 a month. This was a killer and when I contacted the local electric company to see if they had a program like the one in Indiana, they did not. My budget billing now is over 600.00 a month! If I had paid for the system myself back then, I would have saved over 50,000 over the last 30 years. Now I'm over 70 and will most likely be in this house for about six more years -- not enough time to recoup any investment now. My advise to anyone building today or planning to stay in their current house for 20 more years would be to invest in one of these systems. While the savings aren't as great as a good solar system, there are no panels to put up with. I don't like the sight of panels on the front of a house, they need maintenance like cleaning etc., they are an incumbrance if the roof shingles need to be replaced, they can be damaged in storms -- just too much to consider to go solar in my opinion.

Bob Werre

An engineer stopped by yesterday and photographed our electric boxes, and the roof. He determined that the roof would hold about 24 panels. Luckily all of them would be on the back side, out of site. The idea of not really owning the system doesn't bother me too much, as I'm past 70 and I don't care who happens afterward. Right now estimates are under $100 per month--bout half normal. They can raise the monthly charge by 2.8% per year, but again I really don't care after I'm gone, plus 100 year olds' don't happen in my family!

My main concern is much the same as has been mentioned, I'm in hurricane country, so they could go flying perhaps lifting the roof too. Also the warranty on the panels if they die for some reason, along with any insurance issues.

The contract states that it can take months to get the proper approvals. We do have a family in the neighborhood who has had the panels for a few years. I used to haul their kids to Boy Scout camps, so I'll be chatting with him tomorrow.

fetzler Loc: North West PA

Mostly solar panels don't make sense at all. A major factor in determining if solar panels will be financially successful is your location. Some have suggested that they make no sense if you live north of 35 degrees latitude (northern hemisphere). Someone living in San Diego, CA has a far different calculus than someone living in Nome, AK. (No sun in the winter and you don't need much lighting in the summer) Where I live in Western PA it is generally rather cloudy from October through March and my roof can be covered in snow for at least 3 months. For some hurricanes can be an issue- I can see the panels flying through someones living room.

If you live where electricity rates are very high (usually due to bad politics) and you live in the sunny south you may see an ROI after a couple of decades.