I'm not a diary writer but I can write briefly about my Solar PV purchase today. I figured I should if it helps even one of you to make a decision for yourselves. I certainly know that several recent diaries convinced me to look harder at photovoltaics.
I actually did not purchase the system, instead I did a "prepaid lease". Essentially this is similar to a "Solar Lease" but you pay all the lease payments up front (and the total is less than your standard lease). For this I get 20 years of guaranteed panels/warranty/maintenance with absolutely no further cost to me. I do not own the system but I get all the electricity.
After 20 years the lease company will, at either my or their request, remove the system and do all requisite roof restoration for zero cost. Or I can purchase the system at fair market value or possibly extend the lease further. If neither I nor the lease company request removal the system will transfer ownership to me after 90 days. I expect that this last scenario is rather likely as the lease company will have to pay thousands just to remove 20 year old equipment and the system is probably not big enough to justify it.
The system I leased is 5060 Watt system which I expect will save me an average of $1100-$1200 / year where I live at current rates which is Phoenix, AZ. The panels I will be getting are CentroSolar 230W panels and I requested Enphase microinverters which have a lot of benefits. One of which should be about a 10% increase in total overall efficiency for the life of the system (reduced impact for shading effects, less system downtime, easy monitoring of each panel's performance, etc).
Because the lease is prepaid there are no potential issues with transferring the system in the event of a home sale (normal leases would require the buyer to take over the lease payments and qualify on a credit check). With a bottom-line cost, installed and after rebates, of $6800 my payback should be very quick even w/o considering rate hikes and additional property value.
Total rebates:
* $6750 from S.R.P. ($1.35/Watt 5kW max, Salt River Project electric)
* 30% Federal Tax Credit, about $8k-9k
* $1000 Arizona tax credit.
* $2000 installer rebate at system commissioning (they do this because they get to goose the federal tax credit for a little bit more this way).
The rebates get assigned to the leasing company and besides the lease contract I have virtually no paperwork to file. The SRECs (Solar Renewable Energy Credits) also belong to the lease company.
I did consider purchasing the system but it would, in the end, cost me about double and then maintenance responsibility would be mine. For me, in my location, this was just a much better deal. You have to consider the Total Cost of Ownership between various scenarios. For example, if you purchase the system, the $6750 utility rebate is considered income that you have to pay taxes on. However, the SRECs would belong to you and if your state has an existing market for these it could make quite a bit of difference for you. Everyone's equation will be a little different.
What else? Minor points that pretty much everyone offers...
* up to $350 of permitting costs (won't be that much)
* guaranteed minimum performance (if the system produces less they pay me the difference)
* free monitoring. I get the data for each panel all day every day.
* warranty on the system, workmanship, roof leaks, etc. everything you would expect from a reputable company with the all the expected legalese. Read it all, of course.
* Anything else you would expect.
Can't think of anything else too pertinent. I'll definitely provide an update after install which should be about 40-45 days (paperwork, permits, HOA, etc).
I'll be around for questions... or you can private email me. I am not affiliated, whatsoever, with any of the companies involved but I'm happy to give out their names if you request. So far, my service has been excellent but the real meat is to come of course.
Hope this helps someone!
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Also, I hope this is not ruinously tacky: My dear wife is trying to raise money for breast cancer by participating in the Susan G. Komen 3-Day Walk for the Cure. She lost a very dear friend (since childhood) this year to breast cancer. However, she can't participate without meeting the minimum fundraising goal and she could use a little bit of help. If you can spare a buck or two and this diary helped you at all, please forgive my tacky request and consider donating (honestly, I did not write the diary with the intention to plug this).
Thu Jun 16, 2011 at 8:56 AM PT: Thank you everyone for participating in the diary and especially those that found it in their heart to contribute to my wife's breast cancer fundraiser. I received a few kisses for it so I'm a happy man as well! I will definitely follow this up with the install as it proceeds and report back actual results vs these predicted results.
Thu Jun 16, 2011 at 9:34 AM PT: Wow! Rec list. I am stunned. You honor me too much. Thank you.