Solar from ReVision (solar panels, LED, buy, tax credit)
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My wife met with a ReVision salesman, also with a Solar Bug sales guy, and came away convinced that solar panels are "free".
In reality, the solar install would cost $28,000. Of this, about $10K will be gotten back as a tax credit.
Another $13K will be paid for using a home equity loan or a "solar loan" (collateral would be the solar panels and promise of Eversource electric grid refunds).
The last $6K or so is cash up front.
The sales pitch is that after 7-8 years, the install is effectively free because the electric company refunds us for every watt we put back on the grid, or about $125/month.
Does anyone think this is actually a good idea? I'm all for solar, but we do live in the cloudy Northeast and a totally sunny day is actually rare; partly cloudy is more the norm, and I remember one or two summers recently where it seemed to rain every day. And then there's winter.
Also, what if we need to move and sell the house two years from now? The loan company owns our solar panels, and it's going to be a messy process. The buyer might not want the hassle. This doesn't sit well with me.
In my opinion, the way to be "green" is to drive less, use LED light bulbs, and turn off the TV more often. Close the shades and use ceiling fans rather than AC. Buy less junk. Grow veggies in the garden.
There are lots of ways to save energy and so forth, without the huge costs of a solar install. But maybe I'm just a skeptic. Is this "free" solar thing just a scam, or what?
IMO, and from what I have read, SCAM and a trap for the unwary. A tipoff is that they ONLY want to locate on the roofs of stick-built middle class homes. Another tipoff is that the key player that makes the deal work is a loan company.
Also not addressed is that asphalt shingle roofs need replacement after ten to thirty years on average. Lightning damage? Hailstorm? Fire hazard from weathered electric connections installed by fly-by-night crews of installers from the local job center? What type and maker of panels? Some panels are less efficient, no panel will last forever giving full rated output when covered with soot, mold, salt spray from oceans, acid rain, etc.
Most of these deals are legitimate. The utility commission oversight comes into play. The vendor should be able to show you the actual electrical performance of other installations in the area. As with any construction project you want to do due diligence and get multiple bids.
"the install is effectively free because the electric company refunds us for every watt we put back on the grid"
The following article details what can happen when utilities change the conditions of what they will pay for solar energy. A lot of people call it greed but the reality is that our electrical grid is a 19th century technology that was only engineered to send power in one direction. If you're the only solar rooftop on the block, no problem because your neighbors can use your extra power. If everybody on the block gets solar what is the electric company supposed to do with it? Step it up to 50,000 volts and transfer it thousands of miles to a cloudier state? The resistance in the copper makes it impractical to transport solar power over long distances. Solar is right for a lot of people but if the true payback comes in 25-30 years (the recognized potential life span of the solar panels) then what is the payback? What happens if new technology makes solar panels obsolete in 10 years? A lot of solar companies have gone out of business so you need to take any of their "guarantees" with the assumption they may not be around to honor them. Most solar panels have a guarantee that they will put out (for example) 80% or whatever of their rated power after 25 years. What does the guarantee cover? If they put out 0% of their rated power after 6 years that is not covered by their power output guarantee, it's covered by their manufacturer's defect guarantee with is usually 1 or 5 years meaning it's not under warranty at all and the broken panel is your problem.
"we do live in the cloudy Northeast and a totally sunny day is actually rare; partly cloudy is more the norm, and I remember one or two summers recently where it seemed to rain every day. And then there's winter."
Very good questions. The solar companies use a formula and in your situation would install more panels so during the bright days you're selling more power to the grid to make up for the dark ones.
OP, 7-1/2 years ago (May 2012) when I first moved into my current house, I considered getting solar panels (and one of the possible contractors was ReVision). At the time, there were both federal and state rebates that would have cut the initial cost tremendously -- but I didn't want to rush into it.
Fast forward to 2014, when I was still considering solar. I looked into it at some length and realized it made no sense at all, living where I do (southwestern New Hampshire), even though my particular house is just about perfect for a solar installation. (My back yard is basically a perfect Southern exposure and gets a TON of sun.)
Most of these deals are legitimate. The utility commission oversight comes into play. The vendor should be able to show you the actual electrical performance of other installations in the area. As with any construction project you want to do due diligence and get multiple bids.
Yeah right....
THE BEST THING.....you can do to save money on electricity............
IS TO PRETEND YOU OWN A OFF-GRID HOUSE.......and model change the electrical needs based on that!! You will save LOTS of money for little in current expenditures.
I have the second cheapest electrical rates in the nation at my in town house. The most expensive rates in my off-grid house less than ten miles away.
The two homes are world’s apart in electrical savings.....my off-grid house uses 10% of the electrical energy as my grid home......that is electricity not BTU’s.
Conservation is great. The greenest kWh is the one you don't use. For kWhs you do use, renewables are becoming the dominant resource. The best house is a net zero house that is grid connected. Off grid is for remote locations and ideologues.
"In reality, the solar install would cost $28,000. Of this, about $10K will be gotten back as a tax credit....The sales pitch is that after 7-8 years, the install is effectively free because the electric company refunds us for every watt we put back on the grid, or about $125/month."
Granted I don't fully understand your rent to own (or whatever they are calling it) solar panels, but at that math, the electricity becomes "free" after 12 years assuming you're not paying any interest on a loan to finance the system. More likely like 18 years if you have a standard grid tie fee that never goes up. (Here the grid tie fee is about $25/month) So assume interest on a loan and a grid tie fee that increases with inflation and your electricity becomes "free" after 20-25 years, or about the same time the solar panels may be reaching the end of their lifespan. And that is still assuming that you won't have any maintenance or replacement costs.
The other thing to consider is that the solar panels will increase the value of your home meaning that your property taxes will go up. The tax increase will be automatic and based on the date that the building permit for the panels is finalized. Eventually the government will get every penny of the tax "rebate" back. Your homeowners insurance may need to be adjusted for the value increase as well meaning that your premiums may be higher. Also be aware that most homeowner policies don't cover rooftop panels that are damaged by wind (you will need a separate policy for that). Also the solar installers don't care if your roof is going to need replacing soon. Get it inspected and serviced prior to putting the panels on or you'll be paying to have them removed and reinstalled later.
"In reality, the solar install would cost $28,000. Of this, about $10K will be gotten back as a tax credit....The sales pitch is that after 7-8 years, the install is effectively free because the electric company refunds us for every watt we put back on the grid, or about $125/month."
Granted I don't fully understand your rent to own (or whatever they are calling it) solar panels, but at that math, the electricity becomes "free" after 12 years assuming you're not paying any interest on a loan to finance the system. More likely like 18 years if you have a standard grid tie fee that never goes up. (Here the grid tie fee is about $25/month) So assume interest on a loan and a grid tie fee that increases with inflation and your electricity becomes "free" after 20-25 years, or about the same time the solar panels may be reaching the end of their lifespan. And that is still assuming that you won't have any maintenance or replacement costs.
The other thing to consider is that the solar panels will increase the value of your home meaning that your property taxes will go up. The tax increase will be automatic and based on the date that the building permit for the panels is finalized. Eventually the government will get every penny of the tax "rebate" back. Your homeowners insurance may need to be adjusted for the value increase as well meaning that your premiums may be higher. Also be aware that most homeowner policies don't cover rooftop panels that are damaged by wind (you will need a separate policy for that). Also the solar installers don't care if your roof is going to need replacing soon. Get it inspected and serviced prior to putting the panels on or you'll be paying to have them removed and reinstalled later.
Much of this is so wrong. 36 state specifically exempt solar installation from inclusion in property assessment.
Impact on homeowners insurance will be very small compared to the financial savings.
All solar installers here will remove and replace the system at no cost to you when a roof is replaced.
I'm not sure when the poster chooses to post information that is intentionally false, but do your own due diligence for a system. Don't rely on internet posters.
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