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There are two separate arguments here and attempting to address them together only clouds the issue.
Either solar systems can or cannot work economically on Long Island, and I'm sure they can.
The second issue revolves around financing the system whether through leasing or purchasing. Key here is a knowledgeable customer who will refuse to do business with a shady company.
Own: It's a small loan. Pay it off, refi it or build it into the sell price. It's a proven benefit to the new owner.
Lease: Yuck. I don't want to know. Buy it out? Pay a penalty and let them take the panels back? Convince the buyer to continue the lease (maybe not as hard as it sounds if it's generating good power, but then I'm sure to some buyers it will just feel like baggage they don't want to deal with...I don't lease so I wouldn't want to take over someone else's lease). I have a feeling the solar companies will offer decent deals to buy after lease is up. I doubt they want the old panels back and people won't want to be forced to replace their roof. Too early in the trend to tell I guess. Until some leases come up, who knows.
Own: It's a small loan. Pay it off, refi it or build it into the sell price. It's a proven benefit to the new owner.
Lease: Yuck. I don't want to know. Buy it out? Pay a penalty and let them take the panels back? Convince the buyer to continue the lease (maybe not as hard as it sounds if it's generating good power, but then I'm sure to some buyers it will just feel like baggage they don't want to deal with...I don't lease so I wouldn't want to take over someone else's lease). I have a feeling the solar companies will offer decent deals to buy after lease is up. I doubt they want the old panels back and people won't want to be forced to replace their roof. Too early in the trend to tell I guess. Until some leases come up, who knows.
Personally, I'm not going solar anytime soon as I don't see myself living here longer than the lease, don't want to draw on my equity for a loan, and don't want to be saddled with trying to unload it on the next guy. IMHO solar panels are like pools: attractive to some, a turn off to others.
Personally, I'm not going solar anytime soon as I don't see myself living here longer than the lease, don't want to draw on my equity for a loan, and don't want to be saddled with trying to unload it on the next guy. IMHO solar panels are like pools: attractive to some, a turn off to others.
Fair way to feel but for me the math makes it tangible, not a lifestyle choice.
I now pay $300 per month with unavoidable 2+% PSEG increase every year.
The day the panels are installed I will be paying $225 month for the same power plus loan w no escalation in rate. I don't tap into any equity for the loan. The loan is paid by what I CURRENTLY pay PSEG for electricity.
Instant $75/mo savings for 12 years, then free. If I sell earlier, I'll owe whatever part of $21k (my share of panels/install). Let's say 8 years (when my rugrat goes to college). I'll still owe $5-7k on the panels. Easily built into the sell price, even if I take a hit, but in my area, warrantied solar from a reputable company is an easy $10+k seller's incentive.
To me, it's throwing money out the window NOT to do it.
To me it's less like pools and more like when Natl Gas came. The early adopters got free hookups, free appliances, rebates and incentives. Now, no incentives, long wait and high cost to convert. Solar is in that early stage now. It's not going away, but the incentives (rebates, tax credits, low interest rates, etc) will. To be fair though, equip and install prices WILL come down, but it will be a long time before they come down enough to replace the state and fed incentives offered thru Dec. 2016.
Last edited by monstermagnet; 05-15-2016 at 07:50 AM..
I have enough problems keeping my furnace, hot water heater, airconditioner, refrigirator, dishwasher, stove, TV and computer and computer printer running. Also they put all these holes in my roof, soffit and walls as well as big metal boxes hanging off my wall. If it can be done economically, the power company can do it for 1/2 price in a big field somewhere pointing them in an ideal direction with ease of access maintenance. Its called ECONOMY OF SCALE. The tax rebates dont lessen the cost, they just transfer it to someone else. I pay my OWN bills. Solar panels are not for me.
I was told by a neighbor of mine who sells solar panels that in my area the homes are too old and the rafters would not hold solar panels and that his company is not allowed to put them up, meanwhile I have a house at the end of my block with them. Makes no sense because I have seen other homes in the area with them. BTW I am south of East Islip apple bees if that helps. Hubby wants to get them, but I think they look ugly. But then again what's more important? Ugly or saving money? Saving money I guess.
Not sure what he's talking about. How does the roof support the immense snow load every winter then?
Not sure what he's talking about. How does the roof support the immense snow load every winter then?
You're not taking into account the weight of the solar panels plus snow load. Solar panels can weigh up to 5 pounds per square foot, most in the 2-4 pound range.
We recently did a roof on a 1920's bungalow which had several cracked rafters which needed replacement. The house had several roofs on it which did not help when compounded with seasonal elements.
One thing we have seen is previous homeowners or tradespeople who have bored holes through or chiseled away portions of structural supports in order to run pipes or wires. This compromises the integrity of the rafter or beam. There's always the chance for rotting sheathing, too.
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