As I travel, I notice more and more homes electing this option. Very curious of the costs and costs savings, besides the carbon footprint.
Shalom
Shalom
AKB: Anyone here go Solar Power for their home?
- Thread starter Mr. Potter
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Not sure how it exactly works but I have heard stories of leaky roofs and the solar company taking money from bank accounts each month.
The solar company doesn't charge you for the solar panels but expects a certain amount of money from selling the electric back to the electric company.
However, I don't have the details so make sure you understand the fine print.
This was a scheme where the solar company owns the panels and you let them put them on your house and you get some sort of credit or reduced or no electric bill.
The solar company doesn't charge you for the solar panels but expects a certain amount of money from selling the electric back to the electric company.
However, I don't have the details so make sure you understand the fine print.
This was a scheme where the solar company owns the panels and you let them put them on your house and you get some sort of credit or reduced or no electric bill.
The solar programs I've seen in Oregon charge you for the panels - basically a mini-mortgage for 20 years or so. The consumer then benefits from selling back electricity. Wonder if where you live (what climate) determines how they sell them to you. We get little sun in the winter and what we get is usually behind cloud cover. The summer is the opposite.
Heard the same things about roofs - guess they have anchor the panels to the trusses. Maybe the freeze/thaw cycle plays a part of it.
Some day, 20+ years, the solar panels will be spent. Guessing it will be on the home owner to pay for disposal - or maybe they get them disposed as part of a deal to replace them.
I did and am very satisfied. I live in Tucson and had the panels through "Solar City" for 4 years now. No inital cost and they inspected my roof 100% before installing the panels. I rent them and pay $90 a month and then about $25 a month to the electric company. I compared different programs and this on was best for me. Do your research because options are available and can be faverable depending on a familys needs. I have neighbors who Pay between 350 and 450 each month between June and August so for me, the solar is a blessing.....
I have geothermal at home and the office. Much better if you can get a closed system.
I put them on my room in NJ back in 2017, one of the best decisions I've made. The state had a rebate program for 30% of the total cost and I had a 20 year loan at $120/month for the remainder of the cost. The difference between purchasing and leasing is that I get the Solar Renewable Energy Credits to sell on an exchange with a value of $215-220/credit, and we earn 9-10 per year. The excess from the credits more than covers the monthly distribution fees from PSEG and our annual gas bill. The leasing programs with a "fixed rate bill" usually around $95-110/month allow the solar company to keep those credits to sell themselves.
The credit programs can vary state to state so do your research on that before making a final decision, but if it's anything like the NJ program definitely go the purchase route vs leasing. Especially if there is any chance you might move before the lease terms are up as you need the buyer to agree to the terms of your lease and keep it in place or you are stuck with the cost of removal and roof patching. (This impacted a family friend who had two potential buyers back out.)
The credit programs can vary state to state so do your research on that before making a final decision, but if it's anything like the NJ program definitely go the purchase route vs leasing. Especially if there is any chance you might move before the lease terms are up as you need the buyer to agree to the terms of your lease and keep it in place or you are stuck with the cost of removal and roof patching. (This impacted a family friend who had two potential buyers back out.)
Yes, I have 35 panels....have had it for 7 years. When I got it there were some good rebates and tax breaks....no problems.
I did in 2015, so about 8 years in on 20 year lease for 38 panels. I pay a monthly fee which increases each year now about $177 per month. Also pay a $18 meter or billing fee to Con Ed. I get a credit for what i generate versus what I use. That gets paid each year. Basically I am neutral except for Dec or Jan or if we get a lot of snow. Rates in NY went up 20-25 percent last year. So I am glad I have them. We lost a nuke plant and no new source to replace. I hear complaints of electric bills of $300-400 per month, at under $200 I think it’s paying off.
No leaky roof. They added 8 ft sister beams to all those with panels, I asked for 12 ft which they obliged at no extra cost.
It was salty , but at that time the Federal tax credit made up for the difference. Haven't looked into the tax aspect since . Both were brand new builds at the time. Very happy with the results though.
--Here's what I found on a quick google. obviously confirm it before moving forward with installation.
Under the Inflation Reduction Act (IRA) of 2022, the federal tax credit for residential geothermal system installations was increased from 26 to 30 percent, effective January 1, 2023. The 30 percent tax credit runs through 2032 and then gradually reduces until expiring in 2034.Jan 13, 2023
--Also note it says tax credit not tax deduction
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Trinity offers free panels , pay a much lower rate for electric and they are on the Hook for any leaks or problems associated with the panels and ppl pays me for any unused electric at end of year!
I’m in this category, pretty much. We pay around $1500 less a year for electricity than without the panels, I’d say.
I wonder how much longer that will last?
I remember in the 90's, HOA's said the same thing about the Dish and DirecTV satellite dishes.
But I agree about it not being cost effective in Western PA. I live in Bmore (right now) and wondered the same thing.
Las Cruces, NM is my planned destination in about a year and a half and with an avg. of 300 days of sun I will be checking in to them.
Gonna get your hiking on! When I do my annual drive to LA I’m gonna pit stop at your house.
Lots of hiking, biking, photography, Margarita's and Hatch Green Chili Cheeseburgers.
I guess it depends on where you live as I know our HOA isn't allowed to restrict them as they tried initially and fell on their face. I've had it for 2+ years and I'm thinking my neighborhood is up to about 10-15% of the homes now having them. The most our community has to do is have the Solar company submit the roof plans along with the company credentials and they rubber stamp the approval.
HOAs Can’t Stop You From Going Solar in Florida
A Home Owner's Association in Florida cannot stop you from installing solar. There are also rules regarding an HOA's control over solar panel placement.
www.floridapowerservices.com
I have had them for a few years now. No leaks and I’m happy so far. I’ve honestly not calculated the cost savings I get by using them, and I’m not sure I save a ton via them, but I feel good using a renewable energy source.
There was no up-front installation cost. I pay monthly to have them, currently about $203 a month and it goes up 2.9% per year over the 25-year contract I have for them.
From about mid-March through maybe early November, they take in more power than I actually use, and I build up credits with the electric company by selling the excess power to them. During that time I’m paying about a $16 nominal monthly fee to the power company (in addition to the $203 I pay to the solar company for the panels) just for being hooked up to the grid.
Starting around early November, with there being less sunlight per day + my house using more power due to electric heat pump-based heat, I start using more power per day than the panels collect. At first that excess burns down the credits I’ve built up with the power company during the warmer months, but then results in a higher electric bill during a few colder months. I think at its worst in January I may end up paying about $350 to the power company + the $203 for the solar panels to the solar company. Comparatively, pre-solar I can remember some January months where the electric bill peaked near $800.
Over all, again I’m not sure I’m saving a ton but I do like having it.
There was no up-front installation cost. I pay monthly to have them, currently about $203 a month and it goes up 2.9% per year over the 25-year contract I have for them.
From about mid-March through maybe early November, they take in more power than I actually use, and I build up credits with the electric company by selling the excess power to them. During that time I’m paying about a $16 nominal monthly fee to the power company (in addition to the $203 I pay to the solar company for the panels) just for being hooked up to the grid.
Starting around early November, with there being less sunlight per day + my house using more power due to electric heat pump-based heat, I start using more power per day than the panels collect. At first that excess burns down the credits I’ve built up with the power company during the warmer months, but then results in a higher electric bill during a few colder months. I think at its worst in January I may end up paying about $350 to the power company + the $203 for the solar panels to the solar company. Comparatively, pre-solar I can remember some January months where the electric bill peaked near $800.
Over all, again I’m not sure I’m saving a ton but I do like having it.
Just be sure to read the contract very carefully. When I looked into it I would be paying for the amount produced not the amount used. Yes, that sounds odd but that's the way it was. Further investigation found many very unhappy customers saying they were actually paying more than before.solar. There was other bad stuff too. Not saying they all operate that way but read the contract carefully.
Excellent advice. Make sure you understand exactly what you are getting into.
One of the main laments I hear from friends regarding their contracts is that they are "on grid". In other words the power is going to the grid....not to your home. And by contract you cannot alter that. So people who thought "I'll have power during an outage"....no you won't because by contract that power is not yours to use for your house. It can only supply the grid.
I recommend a hybrid system that allows you to toggle between on grid and off grid. However, some jurisdictions and power companies do not allow that and you have to choose one or the other. Obviously there are dangers to linemen if it's not done right.
This is a good point as mine is tied to a whole home battery backup system which costs more to have installed. The cutover when power is lost isn't seemless as it takes about 30 seconds to swap everything over as it's done in stages so the load isn't too high. Within 2 minutes everything is back online in my house. I also live where hurricanes are frequent so I wanted a whole home system, but I still have a gas generator in the garage as well.
Exactly the type of system I'm looking into, but as you mention, more upfront cost.
I'm weighing both the financial aspects and the benefits of having power if it's out for extended periods.
Mine is the Generac and it stores about 18kwh, but I haven't had to use it for more than 2 hours so far thankfully. You can monitor your usage on an app or on the system itself. If it was worst case scenario and I knew I would be down for a few days I would flip off most breakers in my house. It is setup to run my whole Central Air system, but I also store a window unit in my garage and would simply toss that in my bedroom if I saw the central Air draining too quickly to conserve the batteries. Assuming you have sun the next day your batteries would then replenish. We had software/firmware issues for the first year so I had to monitor it as some of the panels weren't pulling when they pushed out updates, but that hasn't been an issue in over a year now.
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