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Are you saying, no matter what, i'll be using the electricity from the utility company? What happens to the electricity pulled in by the panels?
Yes. All of the electricity goes to the grid. The only way to use your own power is with a battery setup. Doable, but a much higher start up cost and tech I'm not familiar with.
Are you saying, no matter what, i'll be using the electricity from the utility company? What happens to the electricity pulled in by the panels?
OK my biggest worry is the technology becoming obsolete in coming years. No technology I think is worth a 15 year payment. That's a gamble. Tech changes too rapidly.
Solar is good for one entity and one entity only: The folks that sell it. In and out quick and they get paid. Everyone else - just a crap shoot.
Maybe the most misinformed and shallow post of a thread chock full of misinformation. Basic math shows I saved $78/month that started the day it was installed. The ones who have it keep repeating this to no avail. The ones who got hassled by some leasing agent and didn't do any diligence like to share their anecdotes likes they're biblical. It's funny when you point out the basic math and share success stories, they resort to "well, they're ugly, I don't want my house to look like a spaceship."
Quote:
Originally Posted by MykeWhyte
OK my biggest worry is the technology becoming obsolete in coming years. No technology I think is worth a 15 year payment. That's a gamble. Tech changes too rapidly.
Yes, the tech will improve and maybe get cheaper, just like you can buy a hybrid car now and save on gas, but the only real guarantee is PSEG raising rates a guaranteed 2-5% every year and solar is a hedge against that right now. I financed at 2.9% for 12 years, not 15 and started paying LESS than my original bill the day it was installed. I'll take my chances the electric grid doesn't change all that much over 12 years.
Maybe the most misinformed and shallow post of a thread chock full of misinformation. Basic math shows I saved $78/month that started the day it was installed. The ones who have it keep repeating this to no avail. The ones who got hassled by some leasing agent and didn't do any diligence like to share their anecdotes likes they're biblical. It's funny when you point out the basic math and share success stories, they resort to "well, they're ugly, I don't want my house to look like a spaceship."
I work in the industry, and don't see where I posted any anecdotes. I don't need them because I have firsthand knowledge. I'll counter your remark by saying those who HAVE gotten solar will sing its praises like it's biblical. That's called denial.
Not sure how long you've had it, but give it time...I guarantee you 1) will not get the ROI, 2) will be forced to spend mightily when the system has problems (be they electro-mechanical or physical, i.e. roof leak, etc) and 3) will have issues selling your house.
Last edited by Former LIer; 07-05-2018 at 04:58 AM..
I work in the industry, and don't see where I posted any anecdotes. I don't need them because I have firsthand knowledge. I'll counter your remark by saying those who HAVE gotten solar will sing its praises like it's biblical. That's called denial.
Not sure how long you've had it, but give it time...I guarantee you 1) will not get the ROI, 2) will be forced to spend mightily when the system has problems (be they electro-mechanical or physical, i.e. roof leak, etc) and 3) will have issues selling your house.
Do tell...again, zero substance (particularly for someone who claims to "work in the industry"). Maybe you should ADD an anecdote or two.
1. ROI/Savings day 1, hour 1, moment 1. $78/mo, pure savings. Unless I move and start an ashram and swear off electricity but my family and pets will be none too happy...and I like my computer so I can have pointless arguments on CDLI. My savings will increase proportionately with PSEG's GUARANTEED rate hikes.
2. System is warrantied bumper to bumper for exactly (read my lips) 12 years, ie the life of the loan. I did my diligence and really like the company. Everything they promised was spot on. The only issue was the Town of Hempstead taking 13 weeks for a permit. If Trump tanks the industry like he hopes and they go under, well, I'll be screwed, but that's unlikely and we'll all feel that heat when oil and natural gas escalate since solar and wind are helping to push those costs down. Besides, renewables are expanding even in the face of Trump because they WORK and are saving people money. Just like a boiler, I'm sure if the install business tanks, there will be plenty of service contracts popping up to keep jobs and service the millions with solar. Not a chicken little scenario by any stretch.
3. When I sell in 8-10 years, the system will be almost paid for. With documented savings (and fully transferable warranty), I doubt it will be hard to sell and factoring the cost to scrap and re-roof can easily be passed on (plus then I raise the ask price for the NEW ROOF). You're thinking of a lease. See my other posts. NEVER LEASE unless you use tons of electricity and can't claim the tax credits.
Good luck "in the industry." You're a heckuva spokesperson for it!
3. When I sell in 8-10 years, the system will be almost paid for.
With documented savings (and fully transferable warranty), I doubt it will be hard to sell and factoring the cost to scrap and re-roof can easily be passed on (plus then I raise the ask price for the NEW ROOF).
I don't have a dog in this fight as I won't be here long enough to purchase solar. I see solar like a pool. Some people want the house with a pool, others do not.
I don't have a dog in this fight as I won't be here long enough to purchase solar. I see solar like a pool. Some people want the house with a pool, others do not.
Strange analogy. A pool doesn't provide free electricity and a hedge against utility rate increases. If it limits the buyer pool (which I seriously doubt), so be it. Would have to be a pretty lame housing market (buyer's market, total opposite of now), in which case free electricity will be an even bigger caveat.
And that's the funnier part. There is no "dog in this fight." It's just basic math, preference and due diligence...NOT the potential horrors being alluded to that "are guaranteed to happen" but so far no one is reporting on in reality.
If Trump tanks the industry like he hopes and they go under, well, I'll be screwed, but that's unlikely and we'll all feel that heat when oil and natural gas escalate since solar and wind are helping to push those costs down. Besides, renewables are expanding even in the face of Trump because they WORK and are saving people money.
YUP. Its trumps fault! While we are at. lets blame the unions too.
Do tell...again, zero substance (particularly for someone who claims to "work in the industry"). Maybe you should ADD an anecdote or two.
1. ROI/Savings day 1, hour 1, moment 1. $78/mo, pure savings. Unless I move and start an ashram and swear off electricity but my family and pets will be none too happy...and I like my computer so I can have pointless arguments on CDLI. My savings will increase proportionately with PSEG's GUARANTEED rate hikes.
2. System is warrantied bumper to bumper for exactly (read my lips) 12 years, ie the life of the loan. I did my diligence and really like the company. Everything they promised was spot on. The only issue was the Town of Hempstead taking 13 weeks for a permit. If Trump tanks the industry like he hopes and they go under, well, I'll be screwed, but that's unlikely and we'll all feel that heat when oil and natural gas escalate since solar and wind are helping to push those costs down. Besides, renewables are expanding even in the face of Trump because they WORK and are saving people money. Just like a boiler, I'm sure if the install business tanks, there will be plenty of service contracts popping up to keep jobs and service the millions with solar. Not a chicken little scenario by any stretch.
3. When I sell in 8-10 years, the system will be almost paid for. With documented savings (and fully transferable warranty), I doubt it will be hard to sell and factoring the cost to scrap and re-roof can easily be passed on (plus then I raise the ask price for the NEW ROOF). You're thinking of a lease. See my other posts. NEVER LEASE unless you use tons of electricity and can't claim the tax credits.
Good luck "in the industry." You're a heckuva spokesperson for it!
I worked for PSEG. There's an underlying reason why they want you to have that hunk of crap on your roof.
$78/month....that blows me away...how much a month does it cost you? The loan will be paid off in 12 years...how long will it take you to recoup that?
"Bumper to bumper warranty"...does that cover your roof? Damage caused by others? Did you read THAT fine print? Look for it.
Lucky for me, I moved on from PSEG...I sell bridges now. I'll be sure to stop by when things are slow...
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