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It sounds too good to be true.
$0.15 per KWH as an alternative to $0.23 KWH PSE&G.
Pay only for what you generate (PPA) agreement for 20 years.
$500 uninstall and re-install if replacing roof etc.
Fully insures the panels and zero installation and maintenance cost.
What are the reasons that you would not want to do that ?
The company itself does a lot of security alarm installs (mixed reviews), not sure how the solar arm is doing as far as not being a scam, any insights appreciated.
This was part of the downside that the woman wrote about:
Quote:
Ok so I got my plans back from vivint, I will be saving about 90 off my bill each month, great, but there is a risk that I don't think we are willing to take. If you don't keep your solar agreement you have to do a buy out. This system is 50,000 and if I want to sell my house in 10 yrs and the person buying my house does not want the solar panels, it will cost us 25,000 buy out. Depreciation value 5% each each, so in 15 years when my husband is finally retired and we have to buy out cause the new owner does not want it, it will cost us 12,500. I am not sure if I want to take the risk.
Be wary of anyone selling you anything door to door, first of all. These guys will do anything to get you to sign up, and after that things change. Check the BBB. Their parent corp has had quite a few government actions against them.
Thanks OBH and dman for the investigation and your time.
Ok, I see there is a 20 yr agreement, and I am aware of that clause. The thing is, why would I (or the new owner) not want to save on electricity bills ? I mean what I am wondering is why would one want to opt out of that contract ?
This is not a lease and its a PPA, so I am buying the power I produce it. If I produce 200 KWH per month, I'll buy that 200 KWH at a cheaper price, worst case scenario, I generate nothing inspite of having the panels on the roof, I just pay the PSE&G bill like I'm doing today.
So the main reason to worry about the contract is "the future buyer not liking the panels" ??
It seems like they are clear about a $500 fees to unmount the panels and then mount them back in case I need to change the roof of the house for whatever reason.
Dman, yeah I read a few horrible reviews about the company as such and it was mainly about the Home Security Alarm division/arm. Agreed, the general company philosophy might be the same.
So if I were to look for alternatives, are there other companies on LI that offer a true Power Purchase agreement (not a fixed amount or lease) ?
We went solar two years ago. here's my experience....
Researched company's looking for the best price. There were many company's that wanted to setup a 2nd mortgage to pay for everything. I liked Long Island Power Solutions, he was quick researching my property, didn't go with him because they didn't offer any payment assistance or with the LIPA rebate. Went with A-Best Energy they had a better price plus could roll a portion of the price into the LIPA rebate, also broke down out the pocket into payments. A-Best-Energy - they were quick,, clean, and very professional. They answered all our questions. Even doing follow up calls after the install.
My Cost
Two years ago the final price for (20) 4,800 Kw panels plus new electrical box installed was $21,000.
Less LIPA rebate $8400,
out of pocket $12,600. (three installments of $1500, $4800, $6300)
Tax returns filed for a Federal $6300 and State $5250 rebate.
Our tax refund and what we got back in rebates figured it cost me around $4800 out of pocket.
Prior to solar were on balance billing payment plan billed at $240 monthly. LIPA installed a new meter, we have been on net-metering billing. Here is our electric bill for the last 11 months.
We went solar two years ago. here's my experience....
Researched company's looking for the best price. There were many company's that wanted to setup a 2nd mortgage to pay for everything. I liked Long Island Power Solutions, he was quick researching my property, didn't go with him because they didn't offer any payment assistance or with the LIPA rebate. Went with A-Best Energy they had a better price plus could roll a portion of the price into the LIPA rebate, also broke down out the pocket into payments. A-Best-Energy - they were quick,, clean, and very professional. They answered all our questions. Even doing follow up calls after the install.
My Cost
Two years ago the final price for (20) 4,800 Kw panels plus new electrical box installed was $21,000.
Less LIPA rebate $8400,
out of pocket $12,600. (three installments of $1500, $4800, $6300)
Tax returns filed for a Federal $6300 and State $5250 rebate.
Our tax refund and what we got back in rebates figured it cost me around $4800 out of pocket.
Prior to solar were on balance billing payment plan billed at $240 monthly. LIPA installed a new meter, we have been on net-metering billing. Here is our electric bill for the last 11 months.
We just had solar panels installed on our house last Friday. We went with Solar City.
Our bill for electric is locked in at $155/month for the next 20 years regardless of inflation.
I was paying month by month, not on the economy plan or whatever they call it. Our electric bill ranged from ~220/month in the winter to ~$400/month in the summer with CAC running around the clock.
Solar City has three different tiers of plans. We went with the 2nd tier, the 3rd tier seemed complicated. They have mall kiosks I believe but I went through their website.
We just had solar panels installed on our house last Friday. We went with Solar City.
Our bill for electric is locked in at $155/month for the next 20 years regardless of inflation.
With all respect.
The idea of "locking in" an electric rate of $155/month for 20 years does sound a bit far fetched.
Could you please elaborate on how this works?
Thanks
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