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We're buying a 11.544kW system w/ Trinity. Our yearly bill is $2700. (which will only rise)
The cost is: $45760
less PSEG rebate of $1140
less NY state rebate $5000 (apparently only NY has this extra $5K!)
less 30% fed tax credit $13728
total out of pocket is $25892.
25 yr warranty on panels and inverters.
Homeowners goes up $50/yr
There is a 15 year exemption on assessment for solar on property tax assessment in NY.
We pulled the trigger on this after looking into the Town of Huntingtons program, which IS indeed not transparent. They bid to a solar company and they call the shots, pushing leasing.
We also looked into Solar City but they were pushing leases. Read the lease and the bottom line was that although my monthly payment would be a bit lower, the total cost over the term of the lease would be that I spent $55000. I prefer owning to leasing, especially if the funds are available.
Solar leasing is not a sham. Our friends just signed up with Vivint, no money down solar. It's what works for them.
My friend has a 3200 sq ft home. She's renting her panels. She has to pay the company $270/month for 10 years for the panels. She has gas cooking/heating/dryer. No pool heater. How she thinks renting the panels for $270/month saves her $ is beyond me. She won't own them at the end of the 10 years. Plus, any electric she produces goes back to the panel company.
I am in the town of Huntington as well and considering Solar. How did you decide on Trinity to purchase your panels and which type of panels/inverters did you buy?
It looks like if you have the funds, purchasing is a better option than leasing due in part to a large tax credit.
How are you able to track that your panels are working? Do you have some type of application? Do you still have a contract with national grid or PSEG in case you are not generating enough electricity?
Thanks
Quote:
Originally Posted by tiberiusP
We're buying a 11.544kW system w/ Trinity. Our yearly bill is $2700. (which will only rise)
The cost is: $45760
less PSEG rebate of $1140
less NY state rebate $5000 (apparently only NY has this extra $5K!)
less 30% fed tax credit $13728
total out of pocket is $25892.
25 yr warranty on panels and inverters.
Homeowners goes up $50/yr
There is a 15 year exemption on assessment for solar on property tax assessment in NY.
We pulled the trigger on this after looking into the Town of Huntingtons program, which IS indeed not transparent. They bid to a solar company and they call the shots, pushing leasing.
We also looked into Solar City but they were pushing leases. Read the lease and the bottom line was that although my monthly payment would be a bit lower, the total cost over the term of the lease would be that I spent $55000. I prefer owning to leasing, especially if the funds are available.
Solar leasing is not a sham. Our friends just signed up with Vivint, no money down solar. It's what works for them.
How did you decide on Trinity to purchase your panels and which type of panels/inverters did you buy?
It looks like if you have the funds, purchasing is a better option than leasing due in part to a large tax credit.
How are you able to track that your panels are working? Do you have some type of application? Do you still have a contract with national grid or PSEG in case you are not generating enough electricity?
Thanks
Decided on Trinity after discussing it with Huntington Solars outfit, which was looking to PUSH leases and also SOLAR CITY, looking to push leases. Trinity gave unbiased options.
Don't know about tracking if they are working/applications. The usage tells all. My parents have 2 homes both with solar for over a decade. The bill says whats being produced and whats being banked.
You don't contract w LIPA/PSEG. You are tried to the grid. If you are not making energy, you are buying it from PSEG as you do now. But if you're generating for a week straight and you're not home, you're building a credit from PSEG to be used later when you need it.
from PSEGs site
[SIZE=3]Net meeting measures the difference between the electricity you buy from your utility and the electricity you produce with your solar system. Your net meter keeps track of this difference automatically. Under net metering, excess electricity produced by your solar electric system is delivered back into the utility grid, effectively spinning your meter backwards. Your meter spins forward when your solar system does not produce all of the electricity you are currently consuming.
[/SIZE]
26K out of pocket?? Wow, that's steep. So at the end of the month, is there any type of charge/bill from PSEG or Trinity or whoever? Or is that one bill totally eliminated from your monthly bills?
Im still in the process of installing. That said, my colleague installed in May.
His usual monthly bill was no less than $500 on average, higher in the summer. His last 2 bills were about $12 dollars, with the central air and pool heater running for 2 months.
$26 K seems steep but our yearly avg is $2600. Assuming PSEG rates NEVER changed, the payback is 10 years. Made sense for us.
I was told by a neighbor of mine who sells solar panels that in my area the homes are too old and the rafters would not hold solar panels and that his company is not allowed to put them up, meanwhile I have a house at the end of my block with them. Makes no sense because I have seen other homes in the area with them. BTW I am south of East Islip apple bees if that helps. Hubby wants to get them, but I think they look ugly. But then again what's more important? Ugly or saving money? Saving money I guess.
The panels are extremely light. He has no clue what he is talking about.
Yeah.. it's probably a house in dire need of a new roof...........nothing to do with the actual solar array.
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