Solar, revisited

[temery]

I think I'm ready to pull the plug, but want to ask those who have solar if they have had any regrets.

I haven't checked the numbers yet, but I was told with 25 year financing it would be $175 a month. With the mini splits I installed a couple years ago my fleet bill has averages a little less than $300/month.

''Not sure if the 26% tax credit is included in the numbers.

 

[Hoophound]

We are working on this for our house now. I would get two Tesla batteries and the system would be 55k before the tax credit. So, with a net cost of $41,000 and a monthly savings on electricity of $250, it pays for itself in 14 years. Not bad. I am more interested in it because we have hurricanes and it is hot as hell in Florida during hurricane season, so power loss is brutal. I think solar makes a lot more sense than a whole house generator and gas installation for 25k-30K. Further, I'll probably save a lot more than $250 per month if it works as it should. My electric bill is $350-$400 now. If I lived in a state with higher electric costs, it would be much more. Electricity in Florida is cheap.

 

[temery]

We are working on this for our house now. I would get two Tesla batteries and the system would be 55k before the tax credit. So, with a net cost of $41,000 and a monthly savings on electricity of $250, it pays for itself in 14 years. Not bad. I am more interested in it because we have hurricanes and it is hot as hell in Florida during hurricane season, so power loss is brutal. I think solar makes a lot more sense than a whole house generator and gas installation for 25k-30K. Further, I'll probably save a lot more than $250 per month if it works as it should. My electric bill is $350-$400 now. If I lived in a state with higher electric costs, it would be much more. Electricity in Florida is cheap.

I was told the Tesla batteries would be around $13k+. I have a generator and can't justify the expense for the two or three time a year I lose power. My gas generator is a pain, but it works.

Id be curious how Florida air conditioning costs compare to MA heating costs. My guess is heat costs more than cooling.

 

[Yankees32123]

I work for a solar advocacy organization in DC and would just recommend getting several quotes and doing your homework. The tax credit was just extended at 26% for this year and next year, so there's time to consider this as we get back into our normal routines post-COVID. Happy to answer any questions, and we have some resources here that include a list of questions you should ask companies that you get quotes from: Solar Customer Resource Portal | SEIA

 

[Devland]

Just curious, what is the cause of these electric bills in excess of $200? Heat? AC? I live in a 4 bedroom house in CT. My bill is constantly around $80 a month. I have gas heat, gas stove/oven and gas dryer. My gas bill tops out at $200 in the winter and is usually $40 in the summer. All the kids are out of the house and I am widowed.

 

[UCDaveD]

My parents just got solar panels. No upfront payment, no monthly charge. The company owns the panels and services them. You buy the electricity that the panels generate back from them apparently. They did some kind of cost assessment and I guess it’ll save them about 66% or so. I think the company was called Trinity Solar or something like that.

I’m considering it. Have to convince the wife though. Just got her to agree to buy an EV, so one step at a time.

 

[temery]

Just curious, what is the cause of these electric bills in excess of $200? Heat? AC? I live in a 4 bedroom house in CT. My bill is constantly around $80 a month. I have gas heat, gas stove/oven and gas dryer. My gas bill tops out at $200 in the winter and is usually $40 in the summer. All the kids are out of the house and I am widowed.

Mini splits for both heat and AC. Need to insulate the original part of the house better, add storm doors etc which will drop the monthly bills.

 

[temery]

My parents just got solar panels. No upfront payment, no monthly charge. The company owns the panels and services them. You buy the electricity that the panels generate back from them apparently. They did some kind of cost assessment and I guess it’ll save them about 66% or so.

I’m considering it. Have to convince the wife though. Just got her to agree to buy an EV, so one step at a time.

'I've been told owning is by far the way to go.

 

[Yankees32123]

'I've been told owning is by far the way to go.

The benefit of leasing the panels is you don't need that big down-payment. The solar company essentially becomes your utility, and you have the option to buy the panels down the road. One caution is that it can be a headache if you go to sell your house, because the new owners would have to agree to take over a solar lease. Most companies have home sale options in the contract, so if you do lease, make sure you understand the terms for selling your home.

 

[bmayuc]

Yea I ran the numbers on my house and I am going to do the Solar Roof tiles - in a couple years. We are basically putting off an addition until the economics of the solar tiles gets justttt a bit more mature/commodotized.

Close, so close.... but doesn't feel quite ready economically, product-wise, or service level(repair,maintenance).

 

[temery]

The benefit of leasing the panels is you don't need that big down-payment. The solar company essentially becomes your utility, and you have the option to buy the panels down the road. One caution is that it can be a headache if you go to sell your house, because the new owners would have to agree to take over a solar lease. Most companies have home sale options in the contract, so if you do lease, make sure you understand the terms for selling your home.

The quote I got is for a $500 down payment.

 

[Da_Aisijimo_Gou]

Just curious, what is the cause of these electric bills in excess of $200? Heat? AC? I live in a 4 bedroom house in CT. My bill is constantly around $80 a month. I have gas heat, gas stove/oven and gas dryer. My gas bill tops out at $200 in the winter and is usually $40 in the summer. All the kids are out of the house and I am widowed.

Beyond this winter's widely reported colder than average northern hemisphere temperatures (N America-Europe-Asia), logistical and shipping challenges, major exporters' outages, mainland China's spiked manufacturing demand, etc, your last sentence and word may partially answer your question. See:

LNG Price Boom Obliterates Rally In Bitcoin | OilPrice.com

Spot prices of liquefied natural gas (LNG) in Asia have staged an impressive rally over the past two months and have now soared 18 times from April 2020 lows

oilprice.com

Separately, some failure to manage reasonable temperature expectations; wear adequate clothing, use comforters, etc; far more people WFH; and potentially inefficient insulation, windows, etc. Facetiously, all of the Gen Y and Gen Z suburban bitcoin mining. On the latter, I jest.

 

[HuskyHawk]

The benefit of leasing the panels is you don't need that big down-payment. The solar company essentially becomes your utility, and you have the option to buy the panels down the road. One caution is that it can be a headache if you go to sell your house, because the new owners would have to agree to take over a solar lease. Most companies have home sale options in the contract, so if you do lease, make sure you understand the terms for selling your home.

We sold my mother and father in law's house a year or so ago. It had the leased panels. Wasn't an issue for any of the prospective buyers. I think the worst case is some portion of potential buyers may not want that.

 

[Fairfield_1st]

My parents just got solar panels. No upfront payment, no monthly charge. The company owns the panels and services them. You buy the electricity that the panels generate back from them apparently. They did some kind of cost assessment and I guess it’ll save them about 66% or so. I think the company was called Trinity Solar or something like that.

I’m considering it. Have to convince the wife though. Just got her to agree to buy an EV, so one step at a time.

We did Trinity as well and we're definitely saving on our monthly bills. Only "drawback" is there is a 25 year lease that would move to the new owner of our house if we sell, though given our savings I don't know why they wouldn't be OK with it.

 

[Yankees32123]

We sold my mother and father in law's house a year or so ago. It had the leased panels. Wasn't an issue for any of the prospective buyers. I think the worst case is some portion of potential buyers may not want that.

Yeah, it can definitely be done without headache, but the issue is that you cross-out a group of buyers because they are unwilling to take on the lease. Although more and more people want solar, so that group is shrinking every year.

 

[Hoophound]

I think I'm ready to pull the plug, but want to ask those who have solar if they have had any regrets.

I haven't checked the numbers yet, but I was told with 25 year financing it would be $175 a month. With the mini splits I installed a couple years ago my fleet bill has averages a little less than $300/month.

''Not sure if the 26% tax credit is included in the numbers.

I was told the Tesla batteries would be around $13k+. I have a generator and can't justify the expense for the two or three time a year I lose power. My gas generator is a pain, but it works.

Id be curious how Florida air conditioning costs compare to MA heating costs. My guess is heat costs more than cooling.

Heat definitely costs more than AC. Electricity is a lot cheaper here than in New England. My electric bill in Stowe when we aren't there costs about half what my electric bill here costs with a family of 5 living in the house. Plus the Florida house is bigger. I don't want to know what my electric bill would be if we lived in VT full time.

 

[HuskyHawk]

Heat definitely costs more than AC. Electricity is a lot cheaper here than in New England. My electric bill in Stowe when we aren't there costs about half what my electric bill here costs with a family of 5 living in the house. Plus the Florida house is bigger. I don't want to know what my electric bill would be if we lived in VT full time.

Yeah, but you aren't heating Vermont with electric, right? Heating a house with electric in a cold climate is very unusual. I'm surprised Tom is doing that. It'd definitely common to use heat pumps for AC/Heat in the south.

 

[Hoophound]

The benefit of leasing the panels is you don't need that big down-payment. The solar company essentially becomes your utility, and you have the option to buy the panels down the road. One caution is that it can be a headache if you go to sell your house, because the new owners would have to agree to take over a solar lease. Most companies have home sale options in the contract, so if you do lease, make sure you understand the terms for selling your home.

It sounds to me like you don't use much power at all. My house has two central AC systems, loads of TVs, chargers, recessed lights, a pool filter etc. We don't have gas, so electricity runs it all. Your utility costs sound great!

 

[Hoophound]

Yeah, but you aren't heating Vermont with electric, right? Heating a house with electric in a cold climate is very unusual. I'm surprised Tom is doing that. It'd definitely common to use heat pumps for AC/Heat in the south.

No, Vermont is heated with propane. My point is that my empty house in Vermont still generates me $100+ electric bill in base charges and power to run the fridge, flood lights etc. When we spend a few weeks there the electric bill easily eclipses my Florida bill and I'm running AC most of the time down here. Electricity in VT costs a fortune compared to FL.

 

[HuskyHawk]

No, Vermont is heated with propane. My point is that my empty house in Vermont still generates me $100+ electric bill in base charges and power to run the fridge, flood lights etc. When we spend a few weeks there the electric bill easily eclipses my Florida bill and I'm running AC most of the time down here. Electricity in VT costs a fortune compared to FL.

Yep. I'm familiar with that. Sold ours in October. Money pit.

 

[ZackB05]

Without becoming too political, i did see this in the news today so thought I'd pass along.

https://www.usnews.com/news/top-new...to-slash-solar-energy-costs-by-60-in-a-decade

 

[uchusky32]

I think I'm ready to pull the plug, but want to ask those who have solar if they have had any regrets.

I haven't checked the numbers yet, but I was told with 25 year financing it would be $175 a month. With the mini splits I installed a couple years ago my fleet bill has averages a little less than $300/month.

''Not sure if the 26% tax credit is included in the numbers.

These guys would know. They can save your homestead.

 

[UConnSwag11]

I think I'm ready to pull the plug, but want to ask those who have solar if they have had any regrets.

I haven't checked the numbers yet, but I was told with 25 year financing it would be $175 a month. With the mini splits I installed a couple years ago my fleet bill has averages a little less than $300/month.

''Not sure if the 26% tax credit is included in the numbers.

I’ll have to ask, but I believe my parents are renting the equipment. The company comes out and fixes everything for them not coming out of my parents pockets. My dad loves the system he has. I think he paid as low as $75 a month. I’ll have to ask. He also gets credits for putting excess energy back into the grid

 

[Hoophound]

Because Vermont subsidizes Florida. At least you see some benefits.

I don’t think Vermont subsidizes our electricity. Florida Power and Light is running on natural gas (cheaper, cleaner) and increasing amounts of solar these days.

 

[uconnfan68]

I don’t think Vermont subsidizes our electricity. Florida Power and Light is running on natural gas (cheaper, cleaner) and increasing amounts of solar these days.

Forgot the /s...