does anyone have solar panels?

[abmitch01]

we got a quote that would be $132 a month for our electricity for 20 yrs, the company maintains the equipment. I thought that seemed high.

 

[mom2rose&john]

What is the breakdown of costs. Is the per month amount of $132 a fixed rate or variable? Is NY offering rebates and do you get them or does the company?

It's hard to access with only a dollar amount.

 

[supersnoop]

we got a quote that would be $132 a month for our electricity for 20 yrs, the company maintains the equipment. I thought that seemed high.

My electric bill was $400 this month, and I imagine prices will go up over the next 20 years. Your quote doesn't seem high to me, but we're missing a whole lot of variables.

 

[AquaDame]

We checked into it, but our quote showed we would be paying more instead of less. We passed for now.

 

[havaneselover]

I don't know much about solar panels as they aren't very popular where I am.

Is it a lease or a purchase? I've read that leasing can be a major liability if you need to sell your home.

 

[ellochka]

we got a quote that would be $132 a month for our electricity for 20 yrs, the company maintains the equipment. I thought that seemed high.

Yes, that's very high. $30K over 20 years. Average system is $10K.

 

[abmitch01]

we would be leasing with a guaranteed rate of $132 for 20 yrs. I'm not sure about rebates, I'll have to look into it more

 

[havaneselover]

we would be leasing with a guaranteed rate of $132 for 20 yrs. I'm not sure about rebates, I'll have to look into it more

I am not an expert, but I'd ask about if it would make it harder to sell your house if you needed to for some reason before the lease is up. The news has been filled with horror stories. I have no idea how prevalent the problem is or if it's specific to certain areas.

http://www.bloomberg.com/news/2014-...ases-scaring-buyers-when-homeowners-sell.html

 

[aprilgail2]

I am not an expert, but I'd ask about if it would make it harder to sell your house if you needed to for some reason before the lease is up. The news has been filled with horror stories. I have no idea how prevalent the problem is or if it's specific to certain areas.
]

I think that will change when more and more people get onboard with solar- its really a no brainer. I have 4 friends right now that made the switch in the past 2 years and I am having them installed in 8 weeks. My friend bill went from 300 a month to 160 a month- can't see why anyone that actually looks into it would NOT buy a house that would save them money. Out of 24 homes on my block right now 8 of them are solar and at least 2 more of us making the switch this year. Eventually it will be harder to find a NON solar home than a solar one.

 

[alice99]

We live in NY (Orange County) and have had solar power for the past 6 1/2 years.

We own our panels. They have never had anything happen to them nor have we ever had to do anything to maintain them...so, the promise of someone maintaining them for you is, most likely, irrelevant.

The panels provide appx. 90% of our electricity.

I would look into the rebates (from NYS and Federal Gov't) and cost .... then compare the cost of lease.
Leasing was not an option at the time we purchased ours.... so, I can't say I ever compared the 2 options. But, I know a few people that have changed to solar, after doing the own/lease comparison, and owning has come out ahead for each family.

In 2008 NYS offered a special financing option (a home equity loan w/ very low rates) which we took advantage of. The loan payment was $175 per month, but our electric bill went down $250 per month.

Electric costs are regional , so I'm not sure if you're getting a good deal or not.

 

[pklein09]

....but my average electric bill per month in NJ just dropped to $76 with JCP&L. We're in a 2800 sq. ft. house, and there are 6 of us. We have gas heat, gas stove, and a gas dryer. (My gas is $102/month). I'm on the equal payment plan, and have been since we moved in almost 16 years ago.

When we first moved in, the average electric bill was close to $170/month. What we did to drop that number (gas topped out around the same number), was to insulate the heck out of the house. We blew in 18" of insulation in the attic, foam board insulated the apron of the house from ground level to the first floor in the basement, and changed the HVAC units to high efficiency. I can't believe how much warmer/cooler my house is and how much less it costs to keep it that way.

Are you looking to save money on your electric bill, or are you trying to get off the grid? I think the answer to that question might help you determine if the solar panels are worth it.

From my perspective, though, $132/month seems high.

 

[BunsenH]

Our solar panels (that we own) came on line last October. For Apr/May/June/July we had credits with the utility instead of bills. August has not been a great month, so we may break even.

For the 10 months that we've had solar, our electricity bill has averaged out to $49/month.