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Solar Panels
- Thread starter Trio91
- Start date
I've looked into it multiple times. The issue I was finding was the Power Purchase Agreement is a joke. Paying the same amount as I am to the electric company. And the finance was too complicated with having to gain Solar Renewable Energy Credits and selling them once a year and hope I make more than what the finance cost me for the year. Wasn't worth it for me.
that's the issue that i had....every time i go to homedepot, the folks from solar city keep trying to sign me up for them. Do you know if Nj is offering tax breaks for them?
At the time there was a tax credit. it was either 5k or 7k. Can't remember. The thing with it though is that the companies price you with the tax credit in the calculation. They require you to pay them the 5 or 7 thousand when you get the credit back in your tax return. If you don't they jack up your monthly payment.
There a big push for NJ and solar. NJ used to be number 1 in solar but we have dropped so they are doing a push to get us back to number 1. Becareful cause there tons of scammers out there. I had a co-worker who was looking and a company did all the financial for them. Claim they would get 7k from the loan to use as they please. My co-worker kept asking where the money was and they kept coming up with one reason or another. Finally my co-worker figured out what they were doing was delaying so if he tried to cancel he would have to pay a high cancellation fee. My co-worker got wised to it and canceled before the fee went in and there was no money coming to them like the company promise
I had another co-worker who put them in and doing great but like @9supratt4 said it can be a pain.
I had another co-worker who put them in and doing great but like @9supratt4 said it can be a pain.
Agreed...The big savings comes once the panels are paid in full. Then you should have a $0.00 electric bill.
Sure are last house in the summer was $300-$400 to keeps it where the wife wants 70 when we changed to solar $98 a month
Now for the new house it is bigger but new so its built a lot better are electric bill has been around $250 are bill to solar will be $70
Not to be a commercial but here it goes. NRG does this as a utility, they are 100% responsible for the panels and the production of electricity. Their contract states they will generate X amount a year. Therefore if a panel needs to be replaced they do it, or else they owe me money. If you have the power utilization like I do: Pool plus 180 gallon Fish tank, my power usage was somewhat high. This provides more than half my electrical needs a month,
For me, I have a warranty on my roof. They said for me to just call them when/if I get panels so that they can plug up any holes