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Reponding to a request about my experience after switching over to solar energy. (20) solar panels plus new electrical box installed. Seperated into two power grids, connected to power inverter. Picture above not showing full power was taken in the morning.
Cost
$21,000 invoice.
- $12,600 (3 payments of $1500, $4800, $6300).
- $8400 LIPA rebate
- $3600 Federal Tax and State rebates
Final cost $4800 out of pocket
** I saw another person here thinking they were saving money by leasing. ($155 per month over twenty years = $37200) Where's the savings.... Last week switched my homeowners insurance to Liberty Mutual saving $250 per month. Told them about the solar panel attached to the roof. They were happy for me, no extra charge....
Balance Billing vs Net Metering
Looking at the two bills below –
Balance Billing charged two ways, the amount of electricity used, and for the delivery.
Net Metering charges three ways, adding the Power Supply Charge increasing the bill.
Contrary to producing power with good weather, sunshine, and longer days (summer). Using power due to bad weather, cloudy days, and shorter days (winter).
Net-Metering 3-way billing being charged more for the amount of electricity used than a person on Balanced Billing.......
Could this be since there is a wave of people switching over to solar energy. They try recoup money charging more durning the darker months. To make up for lost income during to brighter months.???
LIPA bill last year - Six months after solar instalation, still on Balance Billing
Recent PSEG Bill - Net Metering showing a new charges
Last edited by Modification Specialist; 04-25-2014 at 01:35 PM..
first off, great job posting all the information. 2nd, your inverter is outside? I have 2 and they are in my basement and hideous!
I'm not sure if you are aware but every LIPA customer that has solar is allowed to reset their bank once. I chose to reset mine in the middle of march that way right when we turn our clocks forward I can start banking.
Anyone thinking of leasing or buying should definitely check out this post because I think people are uninformed and you hit it right on the head. Solar panels are warranty'd and my homeowners policy covers the panels and any damage caused by them.
- didn't realize so much power was still required from PSEG for cloudy days.
- what do you do with the panels when you need a new roof? Is it a significant labor cost to remove/replace?
- if you purchase instead of lease, how many years do the panels last before needing to buy new ones?
I'm the guy you're referring to about paying $155 a month.
You're right, you're going to save much more money then my family will over the long run.
Simple fact is, I couldn't afford the initial payment up front to pay for the panels. Leasing them saves me less money, but I'm still saving around $60/month during the winter and up to about $150/month during the summer.
I also get to pocket those rebates that you put towards the purchase of your system, so I'm "getting paid" to lease the panels.
Leasing saves you money upfront which makes it the affordable choice often for low income homeowners. In the long run it's not as much money saved as buying upfront but the leaser starts seeing savings rather then having to wait a decade for the panels to have been paid off.
Reponding to a request about my experience after switching over to solar energy. (20) solar panels plus new electrical box installed. Seperated into two power grids, connected to power inverter. Picture above not showing full power was taken in the morning.
Cost
$21,000 invoice.
- $12,600 (3 payments of $1500, $4800, $6300).
- $8400 LIPA rebate
- $3600 Federal Tax and State rebates
Final cost $4800 out of pocket
** I saw another person here thinking they were saving money by leasing. ($155 per month over twenty years = $37200) Where's the savings.... Last week switched my homeowners insurance to Liberty Mutual saving $250 per month. Told them about the solar panel attached to the roof. They were happy for me, no extra charge....
Balance Billing vs Net Metering
Looking at the two bills below –
Balance Billing charged two ways, the amount of electricity used, and for the delivery.
Net Metering charges three ways, adding the Power Supply Charge increasing the bill.
Contrary to producing power with good weather, sunshine, and longer days (summer). Using power due to bad weather, cloudy days, and shorter days (winter).
Net-Metering 3-way billing being charged more for the amount of electricity used than a person on Balanced Billing.......
Could this be since there is a wave of people switching over to solar energy. They try recoup money charging more durning the darker months. To make up for lost income during to brighter months.???
LIPA bill last year - Six months after solar instalation, still on Balance Billing
Recent PSEG Bill - Net Metering showing a new charges
We have solar panels on our home (they came with the purchase of our house)
The first couple of months were about $50. When we got to the darker months, we had an $88 bill and a $101 bill. I thought maybe it was because of the snow covering the panels and the darker months, but I don't know why it would almost double. The fiance called up PSEG and they said it was a billing cycle thing. Our cycle was slightly longer, which was why we saw and almost double bill.
Last month was a nice surprise though...we had an $11 bill.
- didn't realize so much power was still required from PSEG for cloudy days.
- what do you do with the panels when you need a new roof? Is it a significant labor cost to remove/replace?
- if you purchase instead of lease, how many years do the panels last before needing to buy new ones?
The right time to add solar panels is when you install a new 30 year roof. Installing a solar system on an old roof is not a wise choice.
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Last week switched my homeowners insurance to Liberty Mutual saving $250 per month. Told them about the solar panel attached to the roof. They were happy for me, no extra charge....
