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Old 06-18-2012, 10:23 AM
 
Location: LEAVING CD
22,974 posts, read 27,027,148 times
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So I look a look at our APS account and they say we need a 9.3 KW system to get 100% power (I don't want to go less than 100%) at a purchase cost of about $26k. Wonder what the lease on that'd be and if it drops our APS bill to almost $0 per month. If it's reasonable and less than what we currently pay it's something to seriously consider.
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Old 06-18-2012, 12:26 PM
 
Location: Phoenix, AZ
3,515 posts, read 3,690,264 times
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Quote:
Originally Posted by ibarrio View Post
One if the websites stated a credit score of 700 being needed to qualify. You don't need a 700 to buy a home so your concern is real.


The credit score of your average home-buyer is roughly about 755, up from 720 a few years ago, with the crash of the sub-prime mortgages you don't get many credit-deficient people buying homes nowadays.
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Old 06-18-2012, 01:15 PM
 
3,819 posts, read 11,947,170 times
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Originally Posted by jimj View Post
So I look a look at our APS account and they say we need a 9.3 KW system to get 100% power (I don't want to go less than 100%) at a purchase cost of about $26k. Wonder what the lease on that'd be and if it drops our APS bill to almost $0 per month. If it's reasonable and less than what we currently pay it's something to seriously consider.
How did you get the info from APS? I looked a bit online and didn't see where I can click to find out what size system we would need.
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Old 06-18-2012, 08:59 PM
 
Location: LEAVING CD
22,974 posts, read 27,027,148 times
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Quote:
Originally Posted by HX_Guy View Post
How did you get the info from APS? I looked a bit online and didn't see where I can click to find out what size system we would need.
You have to register and sign in to view your account info. When your in look for a little radio button up top that says "solar".
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Old 06-18-2012, 09:44 PM
 
Location: Surprise, Az
3,502 posts, read 9,609,315 times
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Quote:
Originally Posted by Juram View Post
The credit score of your average home-buyer is roughly about 755, up from 720 a few years ago, with the crash of the sub-prime mortgages you don't get many credit-deficient people buying homes nowadays.
FHA, VA, and USDA is 620. Like I said, you can get a home and still not qualify for solar.
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Old 06-18-2012, 11:14 PM
 
Location: Phoenix, AZ
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Quote:
Originally Posted by ibarrio View Post
FHA, VA, and USDA is 620. Like I said, you can get a home and still not qualify for solar.

Now tell everyone what total percentage those constitute of all mortgages?


In anycase, I still have the option to buy out the system anytime I'm selling the home and add it to the home's asking price. I have a guaranteed buy-out price for all years whenever I am selling the home, so that's another possibility as well.
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Old 06-18-2012, 11:25 PM
 
3,819 posts, read 11,947,170 times
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Originally Posted by jimj View Post
You have to register and sign in to view your account info. When your in look for a little radio button up top that says "solar".
Ok, found it after some digging around...

According to APS, we would need a 14.3 kW system which would cost $66,850 before any rebates...after rebates it would be $$38,650 and the estimated annual savings would be $2,210 so it would take 17.5 years to get the money back from the investment.

I would say that buying it is definitely out of the question but I'd be curious what kind of monthly cost leasing a 14.3 kW system would be.
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Old 06-19-2012, 10:20 AM
 
73 posts, read 269,646 times
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I'm really curious, too!
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Old 06-19-2012, 04:12 PM
 
Location: Phoenix, AZ
3,515 posts, read 3,690,264 times
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Quote:
Originally Posted by HX_Guy View Post
Ok, found it after some digging around...

According to APS, we would need a 14.3 kW system which would cost $66,850 before any rebates...after rebates it would be $$38,650 and the estimated annual savings would be $2,210 so it would take 17.5 years to get the money back from the investment.

I would say that buying it is definitely out of the question but I'd be curious what kind of monthly cost leasing a 14.3 kW system would be.

Their pricing is horribly outdated, when I was shopping, one of my purchase quotes for a 10 kw was about $33,000 before rebates. Extrapolating that to your recommended size would mean $47,000 before any rebates.
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Old 06-19-2012, 05:46 PM
 
9,746 posts, read 11,171,717 times
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Quote:
Originally Posted by jimj View Post
So I look a look at our APS account and they say we need a 9.3 KW system to get 100% power (I don't want to go less than 100%) at a purchase cost of about $26k. Wonder what the lease on that'd be and if it drops our APS bill to almost $0 per month. If it's reasonable and less than what we currently pay it's something to seriously consider.
Assuming a 4% interest rate, interest is $1040 on $26K. So if they charge you $120 a month ($1440 a year) and cover all expenses, that is a pretty good deal. I assume they are making their money on the install and mark-up which could be 50 points of margin.

This is an interesting approach..
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