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Solar questions with new program?

wet hull

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Good morning. Question for solar guys and people who have in CA? Palomar Solar is giving me a bid next week for me to own system. This is in question about Vivint Solar. They are offering a program that only they and Tesla are approved for under the California Renewable Energy Act. My average bill is $500 month so I really need to make a move. Home is 100% electric. HVAC system is new as is rest of everything in home.

Program: PPA or Power Purchase Agreement

Terms:
Fixed at .22 cents a killawat with a increase of 2.9% fixed once a year for 25 years/ terms of contract
No distribution fees
No conversion fees
System is built to 124% of my usage average from past SDGE Bill's
Credits back from SDGE once a year

They own the system and basically use my roof. They monitor and replace all panels as needed for terms of contract. When contract expires I can buy system, renew contract or they remove system. They handle permits, and everything else. Warranty on work is from panels to floor and everything in between. The cost is $0 out of pocket and I do nothing but lock into this agreement. Seems to good to be true but is in fact legit after research. SDGE will keep increasing rates as well.

Question is to the guys that own. Would you rather own the system or go into something like this? My roof is newer and would be due to replace in about 25 years. So if they remove system I would reproof at same time and could explore next best option. If I move I can transfer to new owners.

Pluses are they will update system as needed, swap bad panels and so on. They are upgrading my panel as well, plus I can add solar panels if usage increases. No money out of pocket but my bill can never be zero.

Cons: I dont own and would pay a decreased purchase price in 25 years if I choose to buy.
Locked in at a increasing rate.

I am really not sure what would be best. If I own I am locked into that system until I pay again to upgrade. Will my owned system be considered junk in 10 years?What will the solar future look like? If I own and sign a contract with terms then I am still in almost same position.

Last question, did your Solar increase appraisal value on your home and if so just the cost of system or a greater amount?

Thanks for any input
 

Inland Air Balance

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Andy to the white courtesy phone please, Andy to the white courtesy phone.
Just let Palomar do it, he is just putting the finishing touches on ours. We had a minor snafu with the roofing on ours but I don’t feel like I’ve been taking advantage of. He’s been up front and dead honest about this whole deal with me going back to last year when we started looking. You may find cheaper, but when you have a question he has an answer. It may not be the one you want to hear, but it is the real answer. Ours should be “paid off” in 6 years.
 

riverroyal

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own. the company that wants to use your roof will be long gone by the time you start having issues with aging equipment.
Plus if you sell the house you need a buyer that want to deal with someone using your roof.

Plus, its Palomar, they are the best
 

HNL2LHC

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own. the company that wants to use your roof will be long gone by the time you start having issues with aging equipment.
Plus if you sell the house you need a buyer that want to deal with someone using your roof.

Plus, its Palomar, they are the best
This!!! Plus if you ever sell it might limit the buys willing to accept this. I know I would not be interested in a home with panels that I did not own.
 

LHC30

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Go with Palomar, ask Andy all the questions you can think of and then...



Just go with Palomar!
 

DoughBallin14

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Leased my system with Sunpower as i had a new house built and the were the preferred vendor with the home builders. 15 year roof warranty included by builder if it was solar related, if we used their vendor.
I could not at the time afford to add that extra amount to my monthly mortgage to own the system. I do not get the tax incentives though since i do not own it. I don’t plan on letting go of this house within the next 30 years so no problems about reselling now to anyone.

I pay 72 bucks a month to rent the panels and they take care of anything that happens. Along with my 12 dollar account fee for having an Edison account haha. A/C never stops rollin in my house.
Most people i know prefer Palomar and choose to own the system
 

boatpi

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NEVER LEASE, you miss out on the federal tax credit. Now 25% I believe. I have 3 AC, 3pool pumps, and house in Vegas, my NV ENergy bill is $12.50 per month, every month.
 

sixdays

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I’d trust Andy to guide you, as he did for us. If you can’t afford the upfront cost to purchase outright, I’d strongly consider financing. Everything I came across in my research, including conversations with multiple solar contractors, pointed the opposite direction from a leased system.
 

grumpy88

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I would think ,22 cents a kilowatt is expensive ?
 

COCA COLA COWBOY

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I had a client with the Vivant system and I must say it made a lot of sense. That client sold in El Cajon and moved to Havasu and I know for a fact he was looking to do that system again. It did take some salesmanship to get the buyer to assume, but it was by far the easiest solar system I have ever had to get a buyer to assume.
 

Tpltrbl303

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I have been in the solar industry for 10+ years. I am the commercial sales manager at the oldest solar company in Ca.

Never lease or sign a PPA.

Wait for Palomar. They have loan programs if you don’t have the cash to buy.

Once again, coming from someone who has seen it all, wait for Palomar to explain the problems with a PPA or lease.

BTW, you have already been lied to by Tesla and Vivnt, there are numerous options for the leases and PPA’s out there... responsible solar installer just don’t offer them.


Sent from my iPad using Tapatalk
 

jet496

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I own mine and they have paid for themselves easily in the 5 years I've had them.
 

Angler

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$500 a month for ele tric bill, buy it.
It will pay for its self within 5 years, if the rebate is still avaible.
Polamar for the Win!
 

socal0487

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Good morning. Question for solar guys and people who have in CA? Palomar Solar is giving me a bid next week for me to own system. This is in question about Vivint Solar. They are offering a program that only they and Tesla are approved for under the California Renewable Energy Act. My average bill is $500 month so I really need to make a move. Home is 100% electric. HVAC system is new as is rest of everything in home.

Program: PPA or Power Purchase Agreement

Terms:
Fixed at .22 cents a killawat with a increase of 2.9% fixed once a year for 25 years/ terms of contract
No distribution fees
No conversion fees
System is built to 124% of my usage average from past SDGE Bill's
Credits back from SDGE once a year

They own the system and basically use my roof. They monitor and replace all panels as needed for terms of contract. When contract expires I can buy system, renew contract or they remove system. They handle permits, and everything else. Warranty on work is from panels to floor and everything in between. The cost is $0 out of pocket and I do nothing but lock into this agreement. Seems to good to be true but is in fact legit after research. SDGE will keep increasing rates as well.

Question is to the guys that own. Would you rather own the system or go into something like this? My roof is newer and would be due to replace in about 25 years. So if they remove system I would reproof at same time and could explore next best option. If I move I can transfer to new owners.

Pluses are they will update system as needed, swap bad panels and so on. They are upgrading my panel as well, plus I can add solar panels if usage increases. No money out of pocket but my bill can never be zero.

Cons: I dont own and would pay a decreased purchase price in 25 years if I choose to buy.
Locked in at a increasing rate.

I am really not sure what would be best. If I own I am locked into that system until I pay again to upgrade. Will my owned system be considered junk in 10 years?What will the solar future look like? If I own and sign a contract with terms then I am still in almost same position.

Last question, did your Solar increase appraisal value on your home and if so just the cost of system or a greater amount?

Thanks for any input
search Vivint Solar in the search tab. I created a thread 4 years ago about the same thing except I was buying a property that already had the PPA program in place. DO NOT do the PPA. Own the system
 
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