PSA for Solar

[toddh]

Power companies do buy the excess. At least they do in Indiana. It is bought back at a wholesale rate. Solar is extremely expensive and the payback is long term. Very long term.

 

[P Carter]

So, when your solar system is dumping more electricity into the grid every month that what you use, does the electric company pay you for that electricity?

I don’t know about all states, but generally, yes. Albeit at a discounted “wholesale” type rate, not the “retail” rate you pay for power from the grid.

In idaho, both prices used to be the same—utility bought your excess power at the same rate it sold you power; it was a one-to-one offset—but that changed. There’s a great deal of regulatory risk on both sides of a rooftop solar deal - gov’t agency sets both the price you pay for power form the utility and the price the utility pays for your excess power.

 

[5MilesBack]

So far as I know, power companies no longer buy the excess electricity produced.

That sounds like the perfect opportunity for the liberal politicians that push this stuff to make new laws requiring them to pay you for it. Ya, if they're not paying you for it.....then it makes absolutely zero sense to get solar.

 

[Fireflyfishing]

Ahh, the green energy scam.

 

[TSAMP]

So, when your solar system is dumping more electricity into the grid every month that what you use, does the electric company pay you for that electricity?

That was how it worked in Iowa for a period of time. We put a unit on a new house build for my grandfather 2 years ago and he barely uses half what he generates. The buyback made sense but they're limiting that program I'm told. I think we plan to branch the line and run it to a barndo and another house we have on the same property.

 

[5MilesBack]

We were looking at a home recently that has solar. The system is 7 years old, produces way more than they use, and apparently paid for it upfront when they got it. Would be nice to not have an electric bill for a few years. And even nicer if it was making a little money every month.

 

[doc holiday13]

So, when your solar system is dumping more electricity into the grid every month that what you use, does the electric company pay you for that electricity?

In my case, the power company gives me a rolling credit. So my credit accumulated during the mid spring thru fall keeps me at a $6/month connection charge till December. Then in December-March my power bill jumps to $20-$30/month. I don't expect to pay more than $6 for the month of May.

My system provides me with a 98% coverage system. ROI for 100% coverage wasn't financially worth the investment(I think it was an additional $8K)

My power company did have another agreement that I would retain my existing connection and they would pay me for what I added to the grid. I would have had to put an additional 10 or 20 panels up to make that worth my investment but 20 panels would have doubled my cost.

 

[young7.3]

Solar on a new or metal roof makes perfect sense for anyone planning to stay in that house for the next 15 years or longer. Like the op said, if it's on an aged shingle roof, it's better to replace that roof first, then install solar.

If you are at all good with DIY stuff and do your research, installing your own setup isn't rocket science. The equipment, minus batteries, isn't that expensive anymore. The solar companies are making 300-500% profit margins in most cases, possibly higher.

 

[Yoder]

I know in NY they look at your total usage history, then they will only install panels to cover 80% of your usage. That way there is never excess power generated. How does that make any sense if the actual goal is to have everyone go "green"?

 

[doc holiday13]

That sounds like the perfect opportunity for the liberal politicians that push this stuff to make new laws requiring them to pay you for it. Ya, if they're not paying you for it.....then it makes absolutely zero sense to get solar.

There is a decent enough amount of case law that would require them to buy from you.

 

[WrstMuleHntr]

Southern CA here. We finally bit the bullet and installed solar on our home. With the cost of electricity continuing to rise it was the only thing that made sense anymore. Our payment for the solar system is $400/month (OUCH!), but our lowest electricity bill was $430 in Jan (no AC, no Christmas lights). Our highest electricity bill was $900 in the summer months last year. Rates are planned to continue increasing so in 10 years when I'm still paying $400/month, the electicity costs in Jan without solar might be close to $500+.

Plus, now I can crank the AC during the summer months (during daylight hours of course) and not try to conserve the AC usage by only setting it to 79F.

 

[doc holiday13]

Southern CA here. We finally bit the bullet and installed solar on our home. With the cost of electricity continuing to rise it was the only thing that made sense anymore. Our payment for the solar system is $400/month (OUCH!), but our lowest electricity bill was $430 in Jan (no AC, no Christmas lights). Our highest electricity bill was $900 in the summer months last year. Rates are planned to continue increasing so in 10 years when I'm still paying $400/month, the electicity costs in Jan without solar might be close to $500+.

Plus, now I can crank the AC during the summer months (during daylight hours of course) and not try to conserve the AC usage by only setting it to 79F.

Make sure you consult with at least 2 solar companies and make sure they how your electric company negotiates with customers installing solar

 

[WrstMuleHntr]

Make sure you consult with at least 2 solar companies and make sure they how your electric company negotiates with customers installing solar

Water under the bridge for me, as I’m already done. But good advice for anyone else considering it. We met with 4 companies, negotiated for 6 months with 2 of those. I have a pretty good grasp on how things work with my electric utility company, although this will be our first full month of billing with the solar installed…so the truth will be seen soon.

 

[doc holiday13]

Water under the bridge for me, as I’m already done. But good advice for anyone else considering it. We met with 4 companies, negotiated for 6 months with 2 of those. I have a pretty good grasp on how things work with my electric utility company, although this will be our first full month of billing with the solar installed…so the truth will be seen soon.

I'm about 13 months post installation. I plan to have my system paid off in 4.5 years

 

[ramsdude47]

Lots of uninformed takes on here, not too surprised.

My system cost 18K, so just under 12K after the tax credit. I didn’t finance it, that ruins a lot of the pros and makes it rather expensive. My home value went up by 18K the day it was installed, so “50 years break even cost-benefit analysis” is complete hogwash. I may never have an electric bill again, and I bet in 5 years the rate for electric will be 30-50% higher than it is now.

 

[BeaverHunter]

Lots of uninformed takes on here, not too surprised.

My system cost 18K, so just under 12K after the tax credit. I didn’t finance it, that ruins a lot of the pros and makes it rather expensive. My home value went up by 18K the day it was installed, so “50 years break even cost-benefit analysis” is complete hogwash. I may never have an electric bill again, and I bet in 5 years the rate for electric will be 30-50% higher than it is now.

Curious to know what makes you think your house “went up by $18000 the day you installed it”? Not being a smart ass. Really would like to know. Sounds like something a solar sales person would tell a customer.

 

[AZ8]

To the OP: Man, that's a horrible situation for your neighbor. Gotta be a special place in Hell for those that prey on the elderly. I think of my 90 year old mom. Luckily, I handle everything for her, plus she's still pretty sharp and can spot a scammer quickly!

She just had a new roof installed Sept 2023. Reputable company and they did a great job. Quailty work! Fast forward to this past April. I happen to be visiting mom. Door salesman comes up and offers a "free" roof inspection. Kindly told him no thanks, it's a new roof. His slimy salesman tactic kicked in and proceeded to tell me that even after one winter, the roof could be damaged. I laughed in his face and sternly asked him to leave. He asked again to just let him jump up there real quick and make sure. I stood in silence. He got the hint! Freaking slimy!

Quickest way to get those solar guys off your property: Tell them you're a renter and not the homeowner.

 

[Q child]

What's up with the title of this thread? Shouldn't it be "PSA for Elderly Scams?" The solar doesn't have anything to do with it.

 

[mjh]

In laws put in geo thermal. Also a long term payout......but for them it was a good investment, mother in law still living, the return has been good. Somebody talked to her about solar, she even had some kind of face to face meeting, she went alone........we had a dinner table discussion about all the scams around solar.....she hasn't talked to the solar person since. No elderly person should be "investing" in solar power at their house given today's market trends, investment structures, payouts, tax situations, scams, and so forth.

Not in the elderly's best interests.

 

[HuntHarder]

Whether or not solar makes sense for a particular house, is case by case. Solar in and of it's self is not a scam by any stretch. Some of the companies are scammy and only tell the positives and leave out any negatives. It is like anything else in life you purchase. It's simply numbers to figure out if it makes financial sense or not.

It really shouldn't be a political issue. I see it more of a financial issue. Some how the ignorant, on both sides of the aisle, tend to make statements that are not factual and only made out of ignorance and emotion.

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