That must have cost a lot to have installed!
It really depends on where you live... if the power company you have had a consistent trend of raising power every year or few years for the past 20-30.... It makes sense to go solar... Where I live the big push is to get it now so you are grand fathered into the prim rate hours... after July the power company is changing it in their favor....There are companies that install solar on your roof for free then charge you a fixed guaranteed rate - they are generally VERY pushy, shady.... Generally, its a terrible deal since you have to convince anyone you sell the house to to accept the panels. You are much better off paying for the panels yourself and taking any tax credits available for you.
When it makes sense to go solar, then it makes sense to own the panels yourself. You collect any tax rebates and pay nothing for the electricity but your upfront cost.It really depends on where you live... if the power company you have had a consistent trans of raising power every year or few years for the past 20-30.... It makes sense to go solar... Where I live the big push is to get it now so you are grand fathered into the prim rate hours... after July the power company is changing it in their favor....
The main problem I'm having with getting solar leases is moving.... It could be a potential deal breaker if I want to sell the house and the prospective buyer already has their own solar setup they want to transfer... I might lose that buyer... every company I talked to pushes hard to not sell out right... I'm still working on finding their profit margins to see why they are like that vs a lease.
The up front cost of material plus having someone to install it for me is over 30k so far and that isn't including the permits and HOA fiasco. Quite the hit unless I stay there for a while, and all that is hoping hail damage or something doesn't ruin the panels during their life.When it makes sense to go solar, then it makes sense to own the panels yourself. You collect any tax rebates and pay nothing for the electricity but your upfront cost.
If bob saved 550-650 with a twenty percent discount (.11 vs .14), he would save about 3k (maybe more if he installed better panels) per year in perpetuity. All these guys are sticking your with a high interest loan and issues when selling.
Trust me they are not installing a 30k system on your roof...otherwise how would they make a profit?The up front cost of material plus having someone to install it for me is over 30k so far and that isn't including the permits and HOA fiasco. Quite the hit unless I stay there for a while, and all that is hoping hail damage or something doesn't ruin the panels during their life.
That's why I'm trying to figure out the profit margin on these lease quotes.Trust me they are not installing a 30k system on your roof...otherwise how would they make a profit?
This is why I don't go for Solar that is far too expensive with breakeven too far away, may be with more efficient solar panels... lets say twice of actual efficiency but those panels will come on market with double price so here we are again...I looked at installing my own solar; but unfortunately you wont get a single tax credit if you dont contract the job out through licensed installers.. they made it a jobs program; and DIYers like us are kinda screwed.. the tax credits only offset a small portion of the labor, none of the equipment or profit.
Most people dont have the equity available in there house anymore to pull out a loan and install solar; I do but my location is so poor its not worth the expense.. solar is kinda hit/miss, largely miss.
Meh, solar panels themselves simply depreciate over time. I doubt anyone puts that much of a premium on their roof real estate.As technology of solar panels improves overtime. More power from a smaller profile. So a large amount of old solar panels, may cause a decrease in the homes value.