SunPower: We are going Solar (1 Viewer)

[MarkeytMaker]

It would interest me more to pay it off and reap the rewards right away...at least then I could pay a more sensible power bill and feel good about it right away:smile2:

 

[ucla1967]

O.k thanks...help me figure something else out. You pay the same amount you did before solar (new payment $80, plus lease $80 = $160) this makes the solar free essentially right?....but what is the benefit...will you benefit only after the 20 years? My fear would be the condition of the solar in 20yrs...does it then need to be replaced? Will it even make it to 20 years? What if you need a new roof, how will this effect the new roof cost (maybe not with tile roofs of course) I'm asking because getting something for free is exciting but I'm not sure if free makes sense if it causes headaches later, or doesn't benefit you after being paid off.

Assuming that electrical rates go up 6% per year, I should save more than $50,000 over the 20 year period of the lease. My break even point is in about eight years. The solar panels are guaranteed contractually to produce 97% of their original production capacity after 20 years or they will pay me the difference. I believe I have a 50-year roof, so I am not too worried about that. At the end of the 20 year lease, they will remove the solar array and restore my roof to its original condition, if I choose. I also have the option of leaving them in place or upgrading, since I will be 91-years old then, I will let my son deal with it.

 

[MarkeytMaker]

Assuming that electrical rates go up 6% per year, I should save more than $50,000 over the 20 year period of the lease. My break even point is in about eight years. The solar panels are guaranteed contractually to produce 97% of their original production capacity after 20 years or they will pay me the difference. I believe I have a 50-year roof, so I am not too worried about that. At the end of the 20 year lease, they will remove the solar array and restore my roof to its original condition, if I choose. I also have the option of leaving them in place or upgrading, since I will be 91-years old then, I will let my son deal with it.

Thanks for the follow up...20 years is a long time in this sense. I wonder if these companies have set plans to do what business they can do in 20 years, or less...then close? This warranty stuff when set so far out in time always concerns me:rolleyes2:

 

[ucla1967]

Thanks for the follow up...20 years is a long time in this sense. I wonder if these companies have set plans to do what business they can do in 20 years, or less...then close? This warranty stuff when set so far out in time always concerns me:rolleyes2:

Yes, I also wonder if they will be around in 20 years, too. Although my lease is with the manufacturer, SunPower, and not the contractor, who knows what the future holds.

 

[Combat]

Solar is a great technology, but I checked into it a while back and was shocked at how expense it would be to install even with tax credits. I couldn't justify sinking that kind of money into the house unless I was sure that I would live there another 20 years. Then I looked into a solar system just for the pool since the water temps in PA are fairly cool even in the summer. The estimate was something like $10K! LOL. That would cover my propane heater cost for the next fifty years.

 

[ucla1967]

Solar is a great technology, but I checked into it a while back and was shocked at how expense it would be to install even with tax credits. I couldn't justify sinking that kind of money into the house unless I was sure that I would live there another 20 years. Then I looked into a solar system just for the pool since the water temps in PA are fairly cool even in the summer. The estimate was something like $10K! LOL. That would cover my propane heater cost for the next fifty years.

I don't get the $7,500 Federal tax credit since I am leasing the system. However, we do have a lot of sunshine in Southern California, unlike Pennsylvania, so I can generate more solar energy than in most other areas of the country. Also, I have two 3 1/2 ton central air conditioning units and an electric swimming pool pump that runs 365 days a year, all of which use a lot of electricity. No propane around here.

 

[ucla1967]

My solar array has been up and working for two months now, but I still have the old Southern California Edison meter program and not the new one for solar. The good news is that my contract doesn't require me to make the down payment or start the lease payments until it is converted, so I have been getting the solar power it has produced for free. In that time period, I have receive two bills from SCE, both of which were about $78. It isn't off setting the amount of my SCE bill as promised (90 to 95 %), but I am hoping that is due to the short days and low sun angles we have at this time of the year. The proof in the pudding will be this summer.