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Old 07-13-2018, 08:09 PM
 
Location: Arizona
17 posts, read 30,643 times
Reputation: 15

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Hey everyone, I just wanted to see your thoughts and opinions. Im looking to purchase a home and "unfortunately" they put in solar in Oct 2017. I did some math and it's far from being cost effective for the next 24 years on the lease. I would save roughly $25,000-30,000 but the unit costs $46,000 after paying it off over 25 years. The company is called Sunnova and unfortunately they don't have the best record. We do really love the house but, this could be the deal breaker. Last months bill was $51.00 from SRP not including the payment for the lease from Sunnova. This is a 1475 sq ft home on top of that . Does this seem right ? Im hearing bills should be in the 10-20 dollar range per month.
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Old 07-13-2018, 08:33 PM
 
1,774 posts, read 1,202,582 times
Reputation: 3910
Wow! I am not a solar customer, but I can tell you I have not had a $51 electric bill the entire 33 years I have lived in Phoenix. I have not personally met anyone who has had a $10-$20 electric bill with solar electric or without it.

I have SRP and my last electric bill was $146 for a 2,484 sq st home. No solar.
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Old 07-13-2018, 09:18 PM
 
Location: Phoenix
640 posts, read 963,561 times
Reputation: 1496
Why don’t you negotiate a reduction in purchase price to make up for what you think you are paying for the solar lease? Are you really going to be in the house for 24 years?
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Old 07-13-2018, 10:29 PM
 
Location: Phoenix, AZ area
3,365 posts, read 5,281,413 times
Reputation: 4205
Quote:
Originally Posted by Loye View Post
Hey everyone, I just wanted to see your thoughts and opinions. Im looking to purchase a home and "unfortunately" they put in solar in Oct 2017. I did some math and it's far from being cost effective for the next 24 years on the lease. I would save roughly $25,000-30,000 but the unit costs $46,000 after paying it off over 25 years. The company is called Sunnova and unfortunately they don't have the best record. We do really love the house but, this could be the deal breaker. Last months bill was $51.00 from SRP not including the payment for the lease from Sunnova. This is a 1475 sq ft home on top of that . Does this seem right ? Im hearing bills should be in the 10-20 dollar range per month.
SRP is the worst for solar, I'm surprised anyone installed on an SRP house what a shady contractor.

Negotiate the purchase price or negotiate a lease prepayment are really your only options. I doubt the lease has a termination clause in it. Get ahold of the lease and make sure it doesn't go up automatically every year before you really get into it though. Also, if your math doesn't include rate hikes then it is a little off but I wouldn't worry a ton about that.

Me personally, I'd pass on any solar homes in SRP. I don't know if they had grandfathering rules so if they did that would change my mind. I do know they killed solar in their areas completely a few years back so anyone with new solar in SRP is either an idiot or just looking to spend a ton of money to feel good about themselves.

This situation is exactly why leases reduce home values.

Quote:
Originally Posted by HollyhockGarden View Post
Wow! I am not a solar customer, but I can tell you I have not had a $51 electric bill the entire 33 years I have lived in Phoenix. I have not personally met anyone who has had a $10-$20 electric bill with solar electric or without it.

I have SRP and my last electric bill was $146 for a 2,484 sq st home. No solar.
https://m.imgur.com/a/rlXXlrk

2200 sq ft main home with a 700 sq ft guest house/casita where my dad lives.
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Old 07-14-2018, 12:41 AM
 
3,819 posts, read 11,984,055 times
Reputation: 2749
If they got solar in October 2017, they have no grandfathering and actually it may be worse, as SRP forces customers with solar onto the E-7 rate plan, which has mandatory Demand charges. That $51 bill is actually not bad, typically someone in SRP with solar will have bill in the $150+ range in the summer.

SRP did have net metering but that ended years ago and those houses are grandfathered in for 20 years. Those are the good ones.

Regarding solar in SRP in general, it can still make sense with a load controller and a battery, but people that are doing it are definitely doing it because they love the idea of solar and having power while the grid is down, it definitely not about savings money in SRP.
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