NVenergy Solar rebates die in 6 weeks (real estate, 2015, lease)

[macgeek]

Looks like NVenergy pulled a fast one, and that all the netmetering rebates will end in 6 weeks
(they have reached the cap) This will have a major effect on the Vegas solar industry as well
as State / NVenergy rebates

Jonathan

[ScoopLV]

Did you get in before the lock?

[macgeek]

http://lasvegassun.com/news/2015/jul...them-cap-limi/


Original agreement

[lvoc]

Was not the PUC to deal with this? I thought they were supposed to develop a tariff or such to deal with it.

[airics]

i don't understand what the craze is about solar.. yes its cleaner energy but at a huge cost..

save 20, 30, even 50% big deal... if you spend $3000 on electric a year.. you save 1500. The setup costs 40k.....It will take more than 25 years to recoup the investment.

[007 license to sell]

There is a new issue showing up when selling homes with solar. Most solar is leased and when a seller goes to sell they have to make sure that the buyer can assume the lease. And it's something a buyer needs to know when purchasing a home with solar. Assuming the lease may put the buyers loan in jeopardy.

Here is a link that highlights this potential issue:

Solar Panels Are Killing Real Estate Deals | National Real Estate Post

[macgeek]

WELL, THAT WON'T BE A PROBLEM FOR ME

and as far as 'payback' for solar, My usage is enough that in 10 years I make ROI on the $$$ I am spending now for solar
the panels I have, Have a 25 year lifespan, so if I get 80-90% of the solar production, in 10 years I am making 4.5% interest on my 40K

Jonathan

[ScoopLV]

Originally Posted by airics

i don't understand what the craze is about solar.. yes its cleaner energy but at a huge cost..

save 20, 30, even 50% big deal... if you spend $3000 on electric a year.. you save 1500. The setup costs 40k.....It will take more than 25 years to recoup the investment.

It's smart for the same reason paying off a mortgage is a smart investment -- it's a known, GUARANTEED return. We all know what we spend on electricity each month. Making that go away is a great investment because those numbers aren't ever going to go down. And it frees up capital for other uses.

[T. Damon]

Originally Posted by airics

i don't understand what the craze is about solar.. yes its cleaner energy but at a huge cost..

save 20, 30, even 50% big deal... if you spend $3000 on electric a year.. you save 1500. The setup costs 40k.....It will take more than 25 years to recoup the investment.

I'm almost positive that our electricity costs are higher here but I'm sure that the cost of solar installations are similar and our installation will be offsetting ~100% (although the PUC just allowed an increase to the minimum charge this month, to $10 from $5) of electricity charges with a 5 year payback and another 20 years guarantee on production. Makes perfect sense for us. Of course, we purchased instead of leased.

Without net metering which our utility company will also drop within a few months after meeting their cap I can see it not being so cost effective.

[yellowsnow]

ROI is important but there is another factor. Being cool without living in fear of the electric bill! Peace of mind is worth a lot! Macgeek is smart I'm sure he will do great with his solar.