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I worked for PSEG. There's an underlying reason why they want you to have that hunk of crap on your roof.
$78/month....that blows me away...how much a month does it cost you? The loan will be paid off in 12 years...how long will it take you to recoup that?
"Bumper to bumper warranty"...does that cover your roof? Damage caused by others? Did you read THAT fine print? Look for it.
Lucky for me, I moved on from PSEG...I sell bridges now. I'll be sure to stop by when things are slow...
Wow, really needed a new user name for THAT!?
Bill on last day before solar $300
Bill w/ solar: $198 (loan) + $24 access and usage = $222 or net $78/mo savings.
I don't need to be concerned with ROI because I'm cash flow positive from day one. It only costs me if I STOP using electricity. The rest of the loan is under $15k now and easily rolled into a sale if a buyer was weird enough NOT to want cheap electricity with minimal rate hikes.
My roof is the cheapest part of the equation and so far it's just fine, chicken little.
Also PSEG is not in the solar "industry" and provided zero incentives. They could likely care less if I "have that crap on my roof" or not except that it eases pressure on the grid. The incentives were fed and state tax breaks, nothing from PSEG.
But you're "In the Industry" so of course you know all that.
Bill on last day before solar $300
Bill w/ solar: $198 (loan) + $24 access and usage = $222 or net $78/mo savings.
I don't need to be concerned with ROI because I'm cash flow positive from day one. It only costs me if I STOP using electricity. The rest of the loan is under $15k now and easily rolled into a sale if a buyer was weird enough NOT to want cheap electricity with minimal rate hikes.
My roof is the cheapest part of the equation and so far it's just fine, chicken little.
Also PSEG is not in the solar "industry" and provided zero incentives. They could likely care less if I "have that crap on my roof" or not except that it eases pressure on the grid. The incentives were fed and state tax breaks, nothing from PSEG.
But you're "In the Industry" so of course you know all that.
You truly are clueless about where the credits come from and why.
How are you cash flow positive if you're spending over 15K to net $78/month? Oh I forgot, you're the typical myopic Long Islander who can prove his cluelessness and zing insults in the same post as if it means anything....OK Corky, you can have the last word... go for it...you sure showed me!!!
PS...wanna buy a bridge?
( psssst, that's a rhetorical question, so I will delete you PM asking for more info)
Maybe the most misinformed and shallow post of a thread chock full of misinformation. Basic math shows I saved $78/month that started the day it was installed. The ones who have it keep repeating this to no avail. The ones who got hassled by some leasing agent and didn't do any diligence like to share their anecdotes likes they're biblical. It's funny when you point out the basic math and share success stories, they resort to "well, they're ugly, I don't want my house to look like a spaceship."
Yes, the tech will improve and maybe get cheaper, just like you can buy a hybrid car now and save on gas, but the only real guarantee is PSEG raising rates a guaranteed 2-5% every year and solar is a hedge against that right now. I financed at 2.9% for 12 years, not 15 and started paying LESS than my original bill the day it was installed. I'll take my chances the electric grid doesn't change all that much over 12 years.
But if PSEG raised the rates on electricity delivered, that would also mean you would have to pay more credits to recieve electricity as well. For example, if 1600 credits bought you 9 hours of electricity... If PSEG raised the rates wouldn't that mean that the same 1600 credits would buy you less hours?
I've been going back and forth with this. But if solar energy the panels capture is going to the electricty company. They control the cost no matter what. So your rates will raise no matter if you do solar or remain conventional. It just sounds like with solar panels, you are paying the electricity company to put their panels on your roof to generate electricity for them.
If I would add solar I would also get that Tesla Powerwall battery. Can store enough energy to run a average sized house for 7 days. Would make electric during the day then pull from battery at night. Any downside of this? Or issues?
But if PSEG raised the rates on electricity delivered, that would also mean you would have to pay more credits to recieve electricity as well. For example, if 1600 credits bought you 9 hours of electricity... If PSEG raised the rates wouldn't that mean that the same 1600 credits would buy you less hours?
I've been going back and forth with this. But if solar energy the panels capture is going to the electricty company. They control the cost no matter what. So your rates will raise no matter if you do solar or remain conventional. It just sounds like with solar panels, you are paying the electricity company to put their panels on your roof to generate electricity for them.
Here's the thing with solar: For starters, I agree with numbnuts that you should never ever lease it. You need to be very careful and read all the fine print. Check to see if there are any issues with your homeowners insurance - if you have a fire, it impedes the firemens' ability to properly fight the fire. Yes, you will see some savings and yes your bill will go down...BUT it is a sizeable investment and the solar cells lose effectiveness pretty much when the warranty expires (not exactly a surprise)...so ask yourself, is it really worth it to have all this work done, take on additional risk, potentially diminish your ability to sell (fully transferable means nothing to someone who doesn't want it...and someone who does would rather get it new).
In the end, you will most assuredly pay out more than you get back. There are actually many uneducated fools out there that think the solar panels alone are enough to power their entire house..many of the folks that have it fall into that category, sadly. It's good that you're being diligent. Just remember my shallow, uninformed post from earlier: the only folks who benefit from solar are the folks that sell it. In and out quick and they always get paid. And don't count on "solar maintenance companies" either..that's like fat free pizza. There is no maintenance. The cells live until they die, then they get replaced. How many battery maintenance firms do you see?
But if PSEG raised the rates on electricity delivered, that would also mean you would have to pay more credits to recieve electricity as well. For example, if 1600 credits bought you 9 hours of electricity... If PSEG raised the rates wouldn't that mean that the same 1600 credits would buy you less hours?
I've been going back and forth with this. But if solar energy the panels capture is going to the electricty company. They control the cost no matter what. So your rates will raise no matter if you do solar or remain conventional. It just sounds like with solar panels, you are paying the electricity company to put their panels on your roof to generate electricity for them.
Yes, you are making electricity for PSEG. That's the way it is. They pay you for it. In dollars that are credited to your account, not credits. Yes if PSEG raises rates, you pay more. If they cut the payout, you lose more. If they increase access charges, you lose some. That's the beauty of being a monopoly. They make the rules. Try another vendor. There aren't any.
That said, it's simple math and due diligence. The historic rate increase is a guaranteed 2-5% annually. The increase in access charges over the last 6 years has been less than 2% total and payout rates for making solar have slightly increased and then leveled off. The only "guarantee" ding dong in the industry can actually make is that rates will climb, every year. It's a hedge against that.
All the other bunk is just personal choice. All hyperbole and speculation about "cannot sell" and "roof failures" and "go bad after 12 years" and blah blah without a shred of evidence or references on here after pages of threads. It's actually a pretty simple technology. It may be new here, but it's been standard in Europe for 20+ years and solar panel production has made Germany the leader of the EU. No one is putting a gun to anyone's head to buy solar panels. Well, maybe one person did and people still wouldn't buy from him, so he's no longer "in the industry." Now he sells bridges.
The reason NOT to lease and why people think it's all a scam is because the leasing companies tell you it's a hedge against rate hikes, but companies like Solar City and other lease-only companies own your production and sell it back to you and THEY increase rates 3-5% annually but are shady about it upfront. Plus, you NEVER own the equipment so if you sell or move, it's really a hassle to deal with the panels and uncomfortable to try to sell the house.
If you own outright, it's just another appliance. One with an upfront cost that improves cash flow and is a hedge against rate increases. It's not a pool with a grotto and tiki bar nor is it the apocalypse of home ownership nor is it freakin' mathematical rocket science. It's just an appliance that sits on your roof and reduces your energy costs. If the numbers work and you have a company you trust, you'll be happy. If not, don't bother.
Plenty of happy campers on here. But I'm done being their spokesperson. Good luck whatever anyone chooses. Happy trails.
Last edited by monstermagnet; 07-06-2018 at 09:00 PM..
Yes, you are making electricity for PSEG. That's the way it is. They pay you for it. In dollars that are credited to your account, not credits. Yes if PSEG raises rates, you pay more. If they cut the payout, you lose more. If they increase access charges, you lose some. That's the beauty of being a monopoly. They make the rules. Try another vendor. There aren't any.
That said, it's simple math and due diligence. The historic rate increase is a guaranteed 2-5% annually. The increase in access charges over the last 6 years has been less than 2% total and payout rates for making solar have slightly increased and then leveled off. The only "guarantee" ding dong in the industry can actually make is that rates will climb, every year. It's a hedge against that.
All the other bunk is just personal choice. All hyperbole and speculation about "cannot sell" and "roof failures" and "go bad after 12 years" and blah blah without a shred of evidence or references on here after pages of threads. It's actually a pretty simple technology. It may be new here, but it's been standard in Europe for 20+ years and solar panel production has made Germany the leader of the EU. No one is putting a gun to anyone's head to buy solar panels. Well, maybe one person did and people still wouldn't buy from him, so he's no longer "in the industry." Now he sells bridges.
The reason NOT to lease and why people think it's all a scam is because the leasing companies tell you it's a hedge against rate hikes, but companies like Solar City and other lease-only companies own your production and sell it back to you and THEY increase rates 3-5% annually but are shady about it upfront. Plus, you NEVER own the equipment so if you sell or move, it's really a hassle to deal with the panels and uncomfortable to try to sell the house.
If you own outright, it's just another appliance. One with an upfront cost that improves cash flow and is a hedge against rate increases. It's not a pool with a grotto and tiki bar nor is it the apocalypse of home ownership nor is it freakin' mathematical rocket science. It's just an appliance that sits on your roof and reduces your energy costs. If the numbers work and you have a company you trust, you'll be happy. If not, don't bother.
Plenty of happy campers on here. But I'm done being their spokesperson. Good luck whatever anyone chooses. Happy trails.
Hey river in Egypt...think you'll be net $78 every month?
I know you just got your shiny toy and you want to flaunt it I mean justify your mistake...
Hey river in Egypt...think you'll be net $78 every month?
I know you just got your shiny toy and you want to flaunt it I mean justify your mistake...
give it time sparky...you'll see.....
No, some months I net more. Some less. It depends on the weather. I got my shiny toy 3 years ago. Done feeding you, troll. Have a nice day.
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psssst, that's a rhetorical question, so I will delete you PM asking for more info)
