Looking for pros/cons of installing solar panels on the house roof. Had the typical sales call stating they install for free and can save 40-60% on my electric bills. It seems to be one of the those things that sounds to good too be true so it probably is not a good idea. Your experience is appreciated. A few houses in the neighborhood have had solar panels installed recently. Solar City is the name of the company.
Thanks,
A solar power system is customized for your home, so pricing and savings vary based on location, system size, government rebates and local utility rates. Savings on your total electricity costs is not guaranteed. Financing terms vary by location and are not available in all areas. $0 due upon contract signing. No security deposit required. A 3 kW system starts at $25-$100 per month with an annual increase of 0-2.9% each year for 20-30 years, on approved credit.
This is from their website, http://www.solarcity.com.
Doesn’t sound so free and they probably get 1/3 to 1/2 installs subsidized by govt grants, so you’re really paying to rent or lease the system.
Edit to add…
http://watchdog.org/130098/solarcity-horror-stories/
Customers tell horror stories of solar company that gets $422M in tax dollars
We went with Astrum Solar a few years ago and had a 9.8 Kw system installed. The system produces in excess of 13 Mw per year which is approximately 9 percent more than our annual usage. It is well worth it.
It is mostly going to depend on what state you’re in, your electricity rates, and interconnect rules. Is Solar City merely renting your roof and then selling the power to you or the utility? Are you going to own the panels and everything?
These things can work out great if you have the right house alignment and utility situation. In many cases it is a no-brainer.
So what percent was your monthly bill reduced by?
There were no hidden fees?
No future increases in fine print?
Thanks.
We live in AZ. My understanding is the install is free. The solar company makes their money off the credits and the rebate they get from the govt. I believe they get most of their money within the first year and after that they have very little risk. I don’t want to get stuck with a mess.
Check on who pays if the panels need to be taken down to work on the roof. We had to replace our roof after a hailstorm, and it cost about $3k to have the panels taken down and put back up. We own the panels, unlike your arrangements with Solar City. Still, worth knowing who handles that expense. (We have been very happy with the panels we own. We have a small array, but it basically eliminates our electricity bill).
It is a flat $500 to remove and reinstall the panels.
We live in Texas and looked into having solar panels installed. A friend recommended Solar City but after doing a little research decided against it. Here’s what I found disturbing about Solar City “SolarCity leverages a unique business model to make solar more affordable. It leases systems to homeowners, typically for a 20-year period. Because SolarCity technically owns the energy systems it installs, SolarCity — not the homeowner — earns the federal tax break intended as an incentive to go solar. So far the company has earned $411 million in such tax breaks. The company also may earn additional income on state subsidies.” Another thing Solar City doesn’t disclose is should you decide to sell your house before the lease expires the potential buyer has to assume the remainder of the lease.
Going off topic here, but what kind of money are you guys paying the in the states for electricity.
Here in Australia (Sydney at least), typical cost is ~$0.27/kWh
Solar is definitely worth it here!
So what percent was your monthly bill reduced by?
There were no hidden fees?
No future increases in fine print?
Thanks.
Monthly Lease Fee is the same as our previous monthly bill.
No hidden fees, no interest, flat rate for 20 years, and we own system at the end of the lease.
Flat fee for removal, storage, and reinstallation when roof requires replacement.
Maryland is a Net Metering State so we receive a check every May for the previous year’s over production.
We live in Texas and looked into having solar panels installed. A friend recommended Solar City but after doing a little research decided against it. Here’s what I found disturbing about Solar City “SolarCity leverages a unique business model to make solar more affordable. It leases systems to homeowners, typically for a 20-year period. Because SolarCity technically owns the energy systems it installs, SolarCity — not the homeowner — earns the federal tax break intended as an incentive to go solar. So far the company has earned $411 million in such tax breaks. The company also may earn additional income on state subsidies.” Another thing Solar City doesn’t disclose is should you decide to sell your house before the lease expires the potential buyer has to assume the remainder of the lease.
Not all solar companies have the same clauses as Solar City. In the event of one selling their house, Astrum Solar gives the lessee the choice of canceling the lease, moving the system to a new location, transferring the lease to the new owner, or selling / paying off the balance upon closing.
We gave up the tax and renewable energy credits in order to lower our overall system cost. While our electrical energy costs have remained roughly the same, we were able to replace the air conditioner with a heat pump which has allowed us to cut our oil bill by more than 50 percent.
We live in Texas and looked into having solar panels installed. A friend recommended Solar City but after doing a little research decided against it. Here’s what I found disturbing about Solar City “SolarCity leverages a unique business model to make solar more affordable. It leases systems to homeowners, typically for a 20-year period. Because SolarCity technically owns the energy systems it installs, SolarCity — not the homeowner — earns the federal tax break intended as an incentive to go solar. So far the company has earned $411 million in such tax breaks. The company also may earn additional income on state subsidies.” Another thing Solar City doesn’t disclose is should you decide to sell your house before the lease expires the potential buyer has to assume the remainder of the lease.
Not all solar companies have the same clauses as Solar City. In the event of one selling their house, Astrum Solar gives the lessee the choice of canceling the lease, moving the system to a new location, transferring the lease to the new owner, or selling / paying off the balance upon closing.
We gave up the tax and renewable energy credits in order to lower our overall system cost. While our electrical energy costs have remained roughly the same, we were able to replace the air conditioner with a heat pump which has allowed us to cut our oil bill by more than 50 percent.
I only cited Solar City because they were highly promoted in Texas and available in just about every other state. Astrum Solar is only available in a few select states. We ended up adding attic insulation and had foam insulation injected in the walls. We also improved attic ventilation by installing a couple of solar attic fans and increased the number of soffit vents recommended by the installer. The net results from all of the work we had done was that overall usage was down this summer compared to 2013 and our electric bill was 35 - 40% lower over the summer.
I know so many people who have panels now and not a single person regrets it. If I remember right everyone has also said their system has generated more than expected. One thing to keep in mind though is if you have trees shading your roof. If so then you will need them removed.