So i went solar...My experience so far
- Thread starter corvetteguy78
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I wish man....But i also don't get a 26% Federal Tax credit on a C8 lol ...as well as a $4500 credit from Connecticut Green Bank. So it's not really 50k, its really like 32k and don't forget that included a brand new roof on a 2500 SQ ft House. So the Solar was really like $23,500 after the credits. Kind of paints a different picture, to me anyway.
Thats why you go in with 100 grand so you get both.
Seriously though, you'll save money in the long run; either by staying long enough to where it ends up being cheaper than paying your utility or the money you get back +some when selling your home. C8 isn't going to last for shit. And would rather golf outside with friends.
ugly or not, if those things are not leased and will be paid off with the closing funds, then they would add value to a buyer depending upon the age and condition of the panels, even more if there was a battery system as well. Issues arise when they are leased, buyers don't want to get roped into another persons lease. If they are paid off, in good condition and still have many years left on the life expectancy then it will be viewed as free electricity even if it is padded into the sales price.
I think they base that off your location; it is a best guess really.
Just wanted to update this for all that are interested or considering Solar, again its a long term investment. But.....We are not really using any electricity at all..those charges are "Connection to the Grid" charges. That's with two people working from home, running a hot tub, running central AC all day long. I think we have 900+KW carry over as well.
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The purchase price was $49000 but $11,000 of that was doing a new roof. the actual solar loan part was around $170/m with the roof loan on there its $243.
Still cheaper than my monthly electric bill in the summer. Nice work.
O hell yeah ...my summer electric bill averaged about $390. I'm the kind of guy who turns the AC once it's hot enough to outside to heat the house up over 70. Doesn't matter if it's March or October..the AC is going on.
My electric bill was similar. Leasing my panels at $60 a month is a fucking huge savings. PG&E keeps increasing prices around here..
Oh and my true up at the end of the year was only $60. Win!
While it seems we're taxed to shit here in Washington, our utilities are still very inexpensive. I did the analysis yesterday seeing all this and I don't think it makes a lot of sense still here.
My electric bill here in the summer with A/C running is maybe $90. Winter it is around $130, en with natural gas.
My electric bill here in the summer with A/C running is maybe $90. Winter it is around $130, en with natural gas.
yeah, that's super cheap. I'm pretty stingy with the ac and only turn it on once i can't stand it any more and open windows immediately once it's tolerable again at night/etc. Summer bills are high 200s. i had a $300 bagger once and that was a horrible humid couple weeks.
Winter is much lower in the low 100s with gas for DHW and cooking.
I'm waiting a few years... my roof/house is 13 years old.... i don't think it's an option until that gets replaced. Too much work before and then again a few years later. Looks are also a thing. i won't be putting any panels on the front of the house. Luckily, the side of the house faces south and the west side is the back yard and rood pitche
I do want to look into battery storage as well for off-grid capabilities. I wanted to get a generator here as we lose power a lot it seems in this area for no reason. I got a few quotes and they are just absurd ($15k). plus, it needs to be run and maintained and eats gas like a hog so it's actually a pretty expensive thing to run as well.
hoping the lifepo4 batteries get a little better soon and i can have an array and inverter that can at least run the basics like the well and fridges indefinitely with the panels that are grid tied.
Winter is much lower in the low 100s with gas for DHW and cooking.
I'm waiting a few years... my roof/house is 13 years old.... i don't think it's an option until that gets replaced. Too much work before and then again a few years later. Looks are also a thing. i won't be putting any panels on the front of the house. Luckily, the side of the house faces south and the west side is the back yard and rood pitche
I do want to look into battery storage as well for off-grid capabilities. I wanted to get a generator here as we lose power a lot it seems in this area for no reason. I got a few quotes and they are just absurd ($15k). plus, it needs to be run and maintained and eats gas like a hog so it's actually a pretty expensive thing to run as well.
hoping the lifepo4 batteries get a little better soon and i can have an array and inverter that can at least run the basics like the well and fridges indefinitely with the panels that are grid tied.
The problem with waiting a few years is the State and Federal Tax Incentives may very well be gone. The Federal is set to expire in 2023.
Solar tax credit amounts
Installing renewable energy equipment in your home can qualify you for a credit of up to 30% of your total cost. The percentage you can claim depends on when you installed the equipment.- 30% for equipment placed in service between 2017 and 2019
- 26% for equipment placed in service between 2020 and 2022
- 22% for equipment placed in service in 2023
While my total project with solar and roof was 49k on paper, CT Green Bank got me $4000 right off the top of the whole project cost and the Fed Gov got me 26% tax refund taking a little over 15k right off the loan so its really $34,000. I got a tax credit of something like $11,000 + on top of my normal tax return. Ideally, you are suppose to take that lump sum and pay off a part of the loan. But its yours to keep. you don't have to pay any part of the loan with it. The loan is 2.99% rate at 15 years to finance it.
I highly recommend going through Energy Sage. Its the Travelocity/Expedia for Solar quotes. You can use my referral link.
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It doesn't hurt to get quotes.
