Solar system cost

[CLdrinker]

Does this price sound right?
12.4kw system $45,000?

 

[pkrrvr619]

What’s your average bill a month? I’ve been weighing this idea but can’t get it to pencil out.

 

[CLdrinker]

What’s your average bill a month? I’ve been weighing this idea but can’t get it to pencil out.

This is for my brother in law. His monthly bill is in the $150 range

 

[LazyLavey]

I'm no expert .....I can just add this

I just paid 22k for 6.8 Kw system.... 20 panels

 

[Rajobigguy]

Just signed up to have my little power plant built by Havasu Solar. 11.4 Kw. Price was $39,000 initially so we asked about cash discount which dropped the price over 10k then with the tax incentives the net cost comes out to be a little over 20k. Given our average usage roi in 7-8 years. 20 year warranty with a assurance that they will still be 85% efficient at 25 years.

 

[hallett21]

Rule of thumb used to be $3 a watt installed. So doesn’t seem that far off considering fuel and material cost increases

 

[TCHB]

17 months ago I paid $20K for. 7.1K system. After the federal rebate $15K. We have Panasonic panels.

 

[LuauLounge]

The loan payment is $50 a month more than his current electric cost.

 

[Boat 405]

Whoa, No that is way too high. I paid $26k for a complete 10.1kw system installed. Then I received a 26%tax credit worth about 8k. So really the system cost me around 18k.

I have 30 panels. 26 are 360watt panels and the last 4 I added later are 380watt panels.

They are LG panels with micro inverters.


I think they are making 400watt panels now in the same size. So if he is doing a 30 panel system 400 watts each gives you 12kw. Should be similar pricing as the materials and labor aren't going to be 20k different. He is getting a hose job IMO


45k for a 12kw system.. ouch

 

[CLdrinker]

The loan payment is $50 a month more than his current electric cost.

That’s what I’m trying to tell him. For what his electric bill is. It will take forever to save money. And the amount he will save is minuscule.

 

[CLdrinker]

Whoa, No that is way too high. I paid $26k for a complete 10.1kw system installed. Then I received a 26%tax credit worth about 8k. So really the system cost me around 18k.

I have 30 panels. 26 are 360watt panels and the last 4 I added later are 380watt panels.

They are LG panels with micro inverters.


I think they are making 400watt panels now in the same size. So if he is doing a 30 panel system 400 watts each gives you 12kw. Should be similar pricing as the materials and labor aren't going to be 20k different. He is getting a hose job IMO


45k for a 12kw system.. ouch

Yup I tried to tell him it’s high. But he isn’t listening raises his bill is so low it’s not worth messing with.

 

[hallett21]

Is the main panel being changed? That’s 3-5k right there.

 

[LuauLounge]

Using the proposal numbers, solar is costing .105/kWh. Utility is charging .112/kWh. He uses about 1400kwh per month….
So, that’s about $10 a month savings assuming you can believe the salesman who will make more in commission than he will save in 25 years.

 

[CLdrinker]

Using the proposal numbers, solar is costing .105/kWh. Utility is charging .112/kWh. He uses about 1400kwh per month….
So, that’s about $10 a month savings assuming you can believe the salesman who will make more in commission than he will save in 25 years.

Exactly! So I’m not crazy. I told him it’s gonna take you 25yrs to save a couple grand.

Not worth the headache.

 

[Boat 405]

I didn’t realize that he is not paying for it upfront but he’s actually taking a loan on it holy moly this is a terrible financial decision

 

[Boat 405]

The way I viewed my system was I had the money to pay for it all up front and I probably would’ve pissed it away on some other toy but in fact I could use it productively to offset costs like the hundred dollars a month for the pool guy

 

[Ace in the Hole]

@bldrinker

That is a 1.99 25 year loan...the loan fee alone on that is roughly a dollar a watt. Absolutely DO NOT SIGN THAT. PM me and I'll give you some people to call on the lending side. That company does good work but solar finance is obscene on backend cost.

 

[HNL2LHC]

Solar system……. The whole thing Pluto and all would be way more.









I know I am a idiot but that is what I thought when reading the title. LOL

 

[Ace in the Hole]

Solar system……. The whole thing Pluto and all would be way more.









I know I am a idiot but that is what I thought when reading the title. LOL

 

[CLdrinker]

@bldrinker

That is a 1.99 25 year loan...the loan fee alone on that is roughly a dollar a watt. Absolutely DO NOT SIGN THAT. PM me and I'll give you some people to call on the lending side. That company does good work but solar finance is obscene on backend cost.

Trying to help my brother-in-law. But I think he is dead set on it.
Even better they told him he had to sign today to get that deal.

 

[Ace in the Hole]

Trying to help my brother-in-law. But I think he is dead set on it.
Even better they told him he had to sign today to get that deal.

Going to shoot you a pm now.

 

[Inland Air Balance]

@BasilHayden to the white courtesy phone please….

 

[OldSchoolBoats]

Way too much. 3kw - 5kw is all he needs for that size of a bill.

 

[Xring01]

If the annual bill electricity bill is $2K…
Then 20 years at $2K is $40K…. So his ROI is over 20years… pending the costs of future electricity.

There is no way in hell I would remotely even consider a solar system unless I had a less than 6 year ROI…

Thats paying cash, no financing.

 

[ibelio]

Solar system……. The whole thing Pluto and all would be way more.

pluto is not listed as a planet any more







I know I am a idiot but that is what I thought when reading the title. LOL

 

[Angler]

Wow, what a horrible deal!

 

[Xstream]

20 Canadian solar panels 8.4 kw on my metal shop roof 18' high with power optimizer and a SolarEdge inverter installed with permits in San Bernardino for $25k - $6500 federal re bait = $ 18,500 ( have not got the re bait yet when I do my taxes) .

​

​

 

[Englewood]

Tell your brother in law he is wasting money. Unless he is one of these global warming nuts who just wants to go green, tell
Him the RDP financial sector has made their decision.

 

[Done-it-again]

Trying to help my brother-in-law. But I think he is dead set on it.
Even better they told him he had to sign today to get that deal.

Then you can’t fix stupid. You can lead a horse to water but you can’t make them drink. Let it go.

 

[OCMerrill]

I wouldn't waste my time and money @ .112 per kwh.

Were off peak @.42 and on peak @.51 here in lovely So Cal. The City of Mission Viejo will only allow 10k on the roof of a non pool home and to me that means grid tied always. The grid tied programs are not all that great these days.

They wont allow me to go off grid and use a transfer switch for when SCE is needed.

Not sure what I want to do but sky high electric rates will only go higher.

 

[TPC]

That price is too high and I don't see Power wall(s) included on that contract.
Inverter isn't the power wall.

Powerwalls run the house at night and power outages. Read that: at night - every night.

Get an estimate from Tesla.
They do it all online. Ya take a few pictures and a copy of your elect bill, they send you back a price and pix of what it'll look like.

Even if you don't go with Tesla, you'll have a benchmark price and materials list of what a proper system is.

Teslas concept of what our house will look like with their panels:

What our House really looks like with their panels:

 

[CLdrinker]

Well we can wrap up this conversation. He signed the contract.
He did get the loan rate down to 1.5%.

 

[Xring01]

Well we can wrap up this conversation. He signed the contract.
He did get the loan rate down to 1.5%.

Some salesman found a sucker for sure.

 

[LuauLounge]

Would he like to buy a bridge? Really great financing.......

 

[HNL2LHC]

Well we can wrap up this conversation. He signed the contract.
He did get the loan rate down to 1.5%.

So how much of the system did he purchase? Did he go for the whole kit and kabootle including the non planet Pluto?

 

[Boat 405]

Well we can wrap up this conversation. He signed the contract.
He did get the loan rate down to 1.5%.

I've got a 28ft deck boat that goes an honest 100 mph for sale with a bone stock 496. I'll make a package deal for the tow vehicle F-150 that can blow by all the diesels up the grade out of indio. $400k deal only available today.

 

[Runs2rch]

I've got a 28ft deck boat that goes an honest 100 mph for sale with a bone stock 496. I'll make a package deal for the tow vehicle F-150 that can blow by all the diesels up the grade out of indio. $400k deal only available today.

You know what you have!

Way too cheap!

Practically giving it away at that price!

Those are my favorite comments in for sale ads the last almost 2 years haha.

 

[BingerFang]

I've got a 28ft deck boat that goes an honest 100 mph for sale with a bone stock 496. I'll make a package deal for the tow vehicle F-150 that can blow by all the diesels up the grade out of indio. $400k deal only available today.

Just sell it for $800k but offer 0% financing for 24 months

 

[hallett21]

Does he not have 3 days to cancel since it’s a contractor contract?

 

[NicPaus]

Unless your electric bill is $300+ a month. No need for solar.

 

[Xring01]

Lets look at any Solar System install from the ROI perspective….

Lets say you have a $30K system that has a 6 year ROI. After 6 years, you no longer have an electricity bill, and you now have a Return on the Investment for the next 20 years… thats great math…

Lets say you have a $30K system with a 20 year ROI… how about instead of spending $30K on solar system, you put that $30K in a Mutual Fund or Bond… See,,, what would $30K in S&P500 fund be worth 20 years in the future… As to a Solar System with 20 year ROI is just breaking even..

Thats why I state.. 6 years is about the most I would consider, anything longer than that, but your money in an investment that can grow.

But thats my opinion.

 

[CLdrinker]

Does he not have 3 days to cancel since it’s a contractor contract?

He don’t want to cancel.
His thought process is his payment is about the same as the utility bill. So as time goes on his payment stays the same but the utility bill will go up.

In my opinion he is tripping over dollars to pick up pennies. But hey to each their own.

Hell I get a 20% discount and my bill is still $350-400 month now way are you putting those dam panels on my house.

 

[CLdrinker]

Lets look at any Solar System install from the ROI perspective….

Lets say you have a $30K system that has a 6 year ROI. After 6 years, you no longer have an electricity bill, and you now have a Return on the Investment for the next 20 years… thats great math…

Lets say you have a $30K system with a 20 year ROI… how about instead of spending $30K on solar system, you put that $30K in a Mutual Fund or Bond… See,,, what would $30K in S&P500 fund be worth 20 years in the future… As to a Solar System with 20 year ROI is just breaking even..

Thats why I state.. 6 years is about the most I would consider, anything longer than that, but your money in an investment that can grow.

But thats my opinion.

Holy shit. I ran this exact scenario by him.
Oh well he is happy and we get to stay at his house for a few weeks and play in his lake. So whatever.

 

[hallett21]

Lol he ain’t sweating 4,5 or 900 a month.

 

[dribble]

I met a guy on the lake yesterday who owns a Solar Company. That price sounds right. This is his boat.

 

[CLdrinker]

Well sounds like they are trying to redact some numbers and he is working on canceling.

 

[CarolynandBob]

Well sounds like they are trying to redact some numbers and he is working on canceling.

You should show him this thread.

 

[BasilHayden]

Been out of town racing in Utah, great weekend, your Brother needs to cancel, that is a horrible deal. Sizing looks a bit big, but understanding how much more power is used in AZ to hit 150/month, maybe not by much. Soloredge is not the tech I care for. I would also question what panels are being quoted, if not speced, count on a cheap chinese panel with the toilet paper warranty. In my opinion unless that includes a panel upgrade the price should be much closer to 35k. That said his real price is closer to 38k, then he is paying 20% to get the 1.9% rate.

But this is what is out there, more suckers than those who look for a reputable company. I wont let my team sell those terms, it only makes any sense if you actually live there through the end of the term, otherwise when its time to pay off the note so you can sell the house, you are paying off the increase in principle and didnt get the benefit of the low rate over time. Shorter term and real interest rates are the only way to finance in my opinion.

Btw, more than a few scary opinions in this thread. There are a couple people in this thread that know exactly what is going on here, might listen to them. When asking about HVAC I suggest you listen to Bildo and I choose to keep my ignorance to myself. I always found the amazing part of this site is the amount of unreal expert advice available, if only you can figure out who is the expert in the various fields.

 

[Uncle Dave]

Does this price sound right?
12.4kw system $45,000?

Nope.

 

[CLdrinker]

Been out of town racing in Utah, great weekend, your Brother needs to cancel, that is a horrible deal. Sizing looks a bit big, but understanding how much more power is used in AZ to hit 150/month, maybe not by much. Soloredge is not the tech I care for. I would also question what panels are being quoted, if not speced, count on a cheap chinese panel with the toilet paper warranty. In my opinion unless that includes a panel upgrade the price should be much closer to 35k. That said his real price is closer to 38k, then he is paying 20% to get the 1.9% rate.

But this is what is out there, more suckers than those who look for a reputable company. I wont let my team sell those terms, it only makes any sense if you actually live there through the end of the term, otherwise when its time to pay off the note so you can sell the house, you are paying off the increase in principle and didnt get the benefit of the low rate over time. Shorter term and real interest rates are the only way to finance in my opinion.

Btw, more than a few scary opinions in this thread. There are a couple people in this thread that know exactly what is going on here, might listen to them. When asking about HVAC I suggest you listen to Bildo and I choose to keep my ignorance to myself. I always found the amazing part of this site is the amount of unreal expert advice available, if only you can figure out who is the expert in the various fields.

This is in Missouri and he has since canceled.
I know Jack shit about solar and it sounded like a crap deal to me.
Figured you or someone who knew would chime in.
Thanks.