wet hull
Well-Known Member
- Joined
- Mar 19, 2008
- Messages
- 1,853
- Reaction score
- 2,577
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
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