0 down solar question (sales, lease, credit)

[eegor]

Anyone want to share how much they are really paying a month for these 0 down solar programs? Right now I am paying about 180-200 a month using around 1100 killowatts during the winter months. I just got my bill for about $450+ using more than 2100kw for July. This is my first year in my new house so I am starting to see how much things cost if we just go about things "normally". Next year I am getting a pool and expect the price in the summer to rise even more because of the filter and I also plan to install an electric garage heater so that would also bring the bill up during the winter months. I am thinking of going solar but how much can I roughly expect to pay per month for the electric bill plus the lease bill? I know a lot depends on different things.

[CRG22]

Let me guess, Vivint came by your house?

Now how much are people paying? You should be able to break even on the loan month to month if it's priced right. This ensures your monthly bill doesn't go up with everyone else's. Now I've seen the same system go from between $24k-45k. You have to do your homework and TD not the easiest in this industry. You have any technical questions should me a PM. I'm in the field.

[CaptainNJ]

it doesnt seem to be so easy to get real life solar experiences complete with useful numbers and info. either because not so many people are doing it or those who do it are too embarrassed to discuss the results.

[anavar]

Agree with "CaptainNJ". My neighbor was not very happy to discuss his solar panels with me. My average electric is around $100 for a 3100 square feet house. It is a new house with very good insulation. I am not convinced in return of the solar panels.

[vision33r]

Winter is coming, enjoy solar.

[Retriever]

Originally Posted by vision33r

Winter is coming, enjoy solar.

+1

Additionally, some of the sales reps for solar companies are...let's just say...not very honest, and will say anything in order to make a sale.

Luckily, one of my former students is a sales rep for a home solar panel company and after viewing the orientation of my home, along with the amount of tree cover, she informed me that she wouldn't recommend adding solar panels because the number of years necessary to at least break-even would be...incredibly long. If not for her honesty, I might have squandered a lot of money with little chance of an adequate return on that investment.

Down the street from me, one of the residents apparently bought the BS of a solar salesman...hook, line, and sinker...because his solar panels are facing Northeast.

[Shet]

I will be purchasing my system, not lease. My break-even would around five years (considering the NJ's SREC price and 30% federal tax credit). System size around 9-10 kW. My avg electric bill is around $200 per month. Have a electric whole house humidifier i.e. electric usage during winter too.

Roof should be newer and as earlier poster indicated roof should be pointing south (say south east or south west). Also if your electric bills are not much like say $50 or say, then its not worth it because probably the labor costs are more or less the same whether you install a 3 kw system or a 10 kw system.

My worries are to do with maintenance of roof i.e. a regular roofer probably won't go up there if I need any repairs. But hopefully less repairs required since the panels would shield the roof (especially the south facing ones) from the sun. And second worry is whenever when I want to sell the house would some buyers hesitate with panels on the roof. I would. But then I thought its my home and I should live like its my home and not somebody else's.

All in all, its not like getting great returns like we get from stock markets. But not bad either and definitely better than putting all eggs in one basket i.e. stock market.

Plus for me personally it gives me peace of mind during summer. Because I don't have to keep wondering all the time whether I should increase the thermostat a bit to reduce the electric bills.

[CaptainNJ]

Originally Posted by Shet

I will be purchasing my system, not lease. My break-even would around five years (considering the NJ's SREC price and 30% federal tax credit). System size around 9-10 kW. My avg electric bill is around $200 per month. Have a electric whole house humidifier i.e. electric usage during winter too.

Roof should be newer and as earlier poster indicated roof should be pointing south (say south east or south west). Also if your electric bills are not much like say $50 or say, then its not worth it because probably the labor costs are more or less the same whether you install a 3 kw system or a 10 kw system.

My worries are to do with maintenance of roof i.e. a regular roofer probably won't go up there if I need any repairs. But hopefully less repairs required since the panels would shield the roof (especially the south facing ones) from the sun. And second worry is whenever when I want to sell the house would some buyers hesitate with panels on the roof. I would. But then I thought its my home and I should live like its my home and not somebody else's.

All in all, its not like getting great returns like we get from stock markets. But not bad either and definitely better than putting all eggs in one basket i.e. stock market.

Plus for me personally it gives me peace of mind during summer. Because I don't have to keep wondering all the time whether I should increase the thermostat a bit to reduce the electric bills.

i appreciate the post but i would love to see someone post up the numbers after they have had solar for a while.