Finally taking the plunge on solar panels (power lines, renter)
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an 18 year payback doesnt seem like a good deal. i am in the process of purchasing a house so i have done some googling on this and i am trying to figure out if it will save me money. im very early in my search but id like personal accounts rather than advertisements you get when you google search.
It's really all about the installation costs. The actual parts aren't terribly expensive- panels, mounting equipment, and the inverter (or inverters, depending) are about half of the total cost. The other half is labor.
Well, it's NJ, so a quarter of the other half is labor and three quarters of the other half is the ripoff.
I looked into adding panels to a detached garage myself and the payoff was quite short, perhaps 4-5 years, but the racket here is that the state gives you a huge headache if you want to grid-tie without using a licensed installer, and the licensed installers all charge up the wazoo.
I still consider it from time to time, but the best way to really see a return on the investment is to use 100% of the electricity as it is generated and not bother with grid-tie. The main problem here is that most of a home's electricity is used over a 24 hour period (except in the summer, where the majority is used in the daylight hours). The trick here would be to have an AC unit hooked directly to panels (i.e. a window unit hooked to 2-3kw of panels) so that it doesn't interface with the grid at all, but you'd need to find a use for that power during the winter such as heating water or heating a couple rooms. Then you can tell the state to shove it when they come and bother you about permits, fees, applications, and approvals.
I'm moving forward with a solar panel installation. i'll be saving roughly $1300/yr in electricity, earning roughly $1200/yr in SREC credits (for 15 years). I'm using SunPower panels. Made in the U.S.A. and one of the best warranties in the business. 19 panels, 327 watts each. If you ever need to take them off and put them back on, it's roughly $1,000 to do so, but I'm not sure why I would ever need to (brand new roof). Just had my site visit last week, should have panels installed within about 2 months.
Hello Bradykp, would you mind sharing your installer details? I would like to get a quote too. Which part of NJ is this installer located in? I am in northern part of NJ.
Edit: Went through the old posts and saw that "SunPower" is the installer. Am I right? I see they have an office in Hamilton, NJ.
My panels were put about a month ago. Just waiting for PSEG to switch the meter to a net meter. Whole process with all the permits and whatnot took a lot longer than expected.
so what rate do you get for the energy company to buy your power? a wholesale price or retail price? i believe that varies (and is a source of controversy).
If you are considering solar and the decision point involves the utility paying you for excess electricity
and you expect that payment to be the same for 20 years, think long and hard.
Utility companies are constantly fighting to not pay home solar units retail rates, but pay homeowners wholesale provider rates. this significantly lowers what the homeowner will be paid for his excess electricity.
If you are considering solar and the decision point involves the utility paying you for excess electricity
and you expect that payment to be the same for 20 years, think long and hard.
Utility companies are constantly fighting to not pay home solar units retail rates, but pay homeowners wholesale provider rates. this significantly lowers what the homeowner will be paid for his excess electricity.
logically, it makes sense for them to pay wholesale not retail. but that does severely impact the math when it comes to the payoff.
so what rate do you get for the energy company to buy your power? a wholesale price or retail price? i believe that varies (and is a source of controversy).
PSEG will do net-metering. Over and above that would probably be wholesale rate but does not matter to me because my goal is to reduce or eliminate my electric bills, not to produce electricity for others.
so what rate do you get for the energy company to buy your power? a wholesale price or retail price? i believe that varies (and is a source of controversy).
If you have generated excess power at the end of your yearly anniversary, you will be paid the wholesale rate.
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