Recent Solar Installation

[T.j.]

I'm hoping next year I can implement a system such as this at my house. Doesn't make much sense not to.

[Lou WQVU939]

As a new member with Solar Panels, I thought I would chime in even though I received the warning message about the topic.
I have solar panels installed by Solar City. I have 36 panels (approx 9600 kWh per year). My electric bill went from over $200 a month to $0 from PSE&G. During the two winter months I did have to pay, but since Solar City's design came up short, they sent me a check, without me asking for one!
I chose the leasing option because for the next 20 years all maintenance and insurance is on them. I paid a small down payment to lock in my rate to them at $140 a month. No cost of living increase.
We chose the inverter to be in the basement, the panels are installed on the barn, about 100 feet from the house.
I have pictures taken during the installation and would be happy to share them if there is any interest.
The only maintenance on my part is brushing the snow off the panels in the winter to prevent an avalanche as the snow melts. Plus, we will be washing them once the pollen season backs off!
Overall we have been very happy with Solar City and have recommended them to several people. (Disclaimer:Solar City gives you a cash reward for recommendations)

[Joey 810]

I'm in the process in getting panels right now. The company is Long Island Power Solutions. Zero out of pocket, 7K Watt system. Financing is about $129 per month with getting Tax and energy credits. 26 panels @ 280 watts each. Warranty is 25 years and the inverter is built on the panels. No ugly inverters on the side of the house or inside. Win-Win.

[Lou WQVU939]

Very Nice. I'm glad to see more people joining in!

Here is the link to the pictures of my installation and a video of the meter running backwards.

http://www.sallouhorseowners.com/Solar_Panels_10_15_13/

[Greg9111]

I heard a few Leasing nightmare stories at work. I guess you really need to do your homework on this one.
Whats the oldest a roof can be for these companies to do the install?
My electric bills are very low. For 2014 I average out to $137.44/mo. You cannot lower that out pocket with a solar lease. Add on top of that my age and its just not worth it for me. I would never realize a savings in my lifetime. Its a younger persons investment.

[Joey 810]

Actually you would, instantly.

Would you rather continue to put money in LIPA pockets every month, or would you rather pay off a solar system?
The system has a 25 year warranty. You're just redirecting the money. You will be paying for electricity till the day you expire.

Think about it.

$137.44 a month.  = $1648.80 yearly x 12 years = 19785.60
$137.44 a month.  = $1648.80 yearly x 12 years = 19785.60
$137.44 a month.  = $1648.80 yearly x 1 year =       1648.80
-----------------------------------------------------------------------------
$41,218.80 for 25 years that assuming no inflation.

or

$129.99 a month.  = $1559.88 yearly x 12 years = 18718.56
$0 a month for ever!
That's over a $22,500 saving over 13 years.

Win-win, for everyone

[Greg9111]

Isn't it a $1067.04 savings over 12 years?

[Joey 810]

no.. you have to put into effect that the last 13 years would be the savings. Since you would only have to pay for it for 12 years. Assuming you live another 25 years. I'm using the solar panel warranty as the variable. So if you live for another 12 years, the electric cost would be zero by the 13 year as the panels would be paid for.

[Greg9111]

I don't understand your math but that's ok, I'll take your word for it.

[Joey 810]

You said you pay an average of $137 a month on electric. Lets say you live for another 25 years it so happens to be the warranty of the solar panels.

137 * 12 = $1644 per year or $19728 for 12 years.

The Solar panels are $129.99 per month.

129.99 * 12 = $1559.88 per year. (remember your electric bill is gone)

$1559.88 * 12 years = $18718.56 (Approx) (the loan time is 12 years)

The 13th year and after that would be 100% free. So 25 years minus 12 = 13 years left on the warranty of the panels. and 13 years of additional free electric power to your house.

If you did not go with the solar, you would continue paying upwards of $140, 150, or $160 a month as time goes on.

With no Solar system you would continue to pay monthly and for 13 years would be almost 20K.

[Greg9111]

Ok, I got it now, thank you for taking the time to explain it.

[Greg9111]

I must get a roof first, mine is shot. I heard your roof can't be more than two years old otherwise they can't  guarantee  for 25 years

[Joey 810]

My roof is shot too. I just got a quote from (A1 roofing) for a new one which was not as bad as I thought. $6k, includes a ridge vent. I have 1180 square feet. And my roof has two layers already. Long Island power solutions will work that number into the solar quote so there will not be any money out of pocket. Win-win

[Kevin WQRE722]

That's acually a good price I need a roof as well.

[Greg9111]

Yes, 6K is very good