I was also told that putting panels on a new roof may void any roof warranty. Not seeing any real upside. I’ll wait for something more attractive, less obtrusive and more profitable.
“Apathy is the Glove into Which Evil Slips It’s Hand”, but really, who cares?
We looked into solar but on a stand alone pedestal, not roof mounted. Would have had to remove some trees and unfortunate in Beaufort tree removal requires permits. Then further researched the payoff/ break even point right now depending on the company used anywhere from 14-20 years.
My wife is your standard tree hugger, save the planet type.
We had panels installed in Dec 2015.
Up front costs $31,000, rebates from Fed and State came to $15,000.
Yearly average electrical and gas was $2,435.
2016 we paid $65 dollars for total electric and gas combined.
Mainly due to the excessive decorations she puts up from Thanksgiving till New Years.
We get a 4 cent per Kw from SCE&G for signing up early, so the little extra covers the utility fee and gas usage.
Looking at about 7 years pay back for us.
This was set up with staying in the house and retirement coming up.
May not be for everyone but it made the wife happy.
I don’t always Tell the Truth,
But when I do I exaggerate
I might need Skinnie to help with the math, but I bet you could have taken that $31k and bought an SP index fund and in 7 years have enough earnings to pay your electric bill for 4-5 years. And then keep the money growing and have enough earnings each year to pay your bill ongoing and never have to deal with installation, repairs, or replacement costs. That’s even taking a draw out the first few years to mimic your tax “rebate”.
Keep in mind, if your payback is 7 years, you are in the hole for 7 years. After 7 years that $16k would probably be worth over $25k and I bet the monthly earnings would likely pay your electric bill for the foreseeable future. Regardless of what home you live in.
Move out of that house, and all that money is wasted. I know a solar system adds zero value to a home based on the fact that banks won’t allow you to include the cost in new construction. If appraisers and banks don’t see it as add-value, then neither will I.
We contacted three different well-respected solar companies to get estimates on the cost for panels on our newly constructed house. All three had the total costs in the same ball park, $21,000-$24,000. Each had a different recommended payment plan, outright payment in cash, lease, or loan. Our interest in going solar was two fold; save money and be self-sufficient when a storm knocks out SCE+G power. I could not see how we would save money on installing the panels. If we used their loan program or lease program we would still be paying more/month than we would to the power company. And we didn’t have the cash up front to pay for them outright. And as others have said, SCE+G will not allow you to use the electricity you generate when their power goes out. When they lose power, they cut off your power automatically.
So for us, it didn’t make financial or self-sufficiency sense.
We’ll wait until batteries are available and reasonably priced.
My wife is your standard tree hugger, save the planet type.
We had panels installed in Dec 2015.
Up front costs $31,000, rebates from Fed and State came to $15,000.
Yearly average electrical and gas was $2,435.
2016 we paid $65 dollars for total electric and gas combined.
Mainly due to the excessive decorations she puts up from Thanksgiving till New Years.
We get a 4 cent per Kw from SCE&G for signing up early, so the little extra covers the utility fee and gas usage.
Looking at about 7 years pay back for us.
This was set up with staying in the house and retirement coming up.
May not be for everyone but it made the wife happy.
I don’t always Tell the Truth,
But when I do I exaggerate
What size is your system? I’m in our new house just over a year and don’t see us wanting to ever move. If I could truly get a break even point of 7 years, then I’d be interested. If its more like 16-18, then not so much…
We contacted three different well-respected solar companies to get estimates on the cost for panels on our newly constructed house. All three had the total costs in the same ball park, $21,000-$24,000. Each had a different recommended payment plan, outright payment in cash, lease, or loan. Our interest in going solar was two fold; save money and be self-sufficient when a storm knocks out SCE+G power. I could not see how we would save money on installing the panels. If we used their loan program or lease program we would still be paying more/month than we would to the power company. And we didn’t have the cash up front to pay for them outright. And as others have said, SCE+G will not allow you to use the electricity you generate when their power goes out. When they lose power, they cut off your power automatically.
So for us, it didn’t make financial or self-sufficiency sense.
We’ll wait until batteries are available and reasonably priced.
That is good info. Thanks. I could see a way around their cutting off your solar. Generator switches would do the trick, just don’t show them how you wired it up.
You can not install transfer switches. SCE&G will not allow it. Zero way to have power from solar if power is lost. Only thing you could do is install a back up generator.
You can not install transfer switches. SCE&G will not allow it. Zero way to have power from solar if power is lost. Only thing you could do is install a back up generator.
I was wrong. The boneheads selling door to door just don’t do it. They are just looking for that quick easy sale for folks that want to lease the system and just save 20%-30% on their bill.
I talked with a knowledgeable installer, and they can do the backup battery for essential items like lights and refrigerator, etc. They can use the LG lithium or the Tesla battery.
Getting a price to see if its worth it. I would love to be able to crank my A/C back down in the summer with solar power. Plus having a refrigerator, lights, and internet and charging use during a storm would be nice.
Sounds like the best way to get your value is install a full system with battery B/U and pay cash up front instead of leasing. I have a feeling SCEG are going to continue to screw us over, so just trying to hedge any rate increases in the future might not be a bad idea.
The one that came to our house this week offered a loan, not a lease. I didn’t speak with him, but my wife did. According to her it was for up to 20 years on the loan if we wanted to do it. I would never do that because I can guarantee that something would fail before I got it paid for. Maybe a 5 year loan, but not 20.
You can not install transfer switches. SCE&G will not allow it. Zero way to have power from solar if power is lost. Only thing you could do is install a back up generator.
It’s really a dumb idea folks. Use your noggin.
I am a little confused. If you are allowed to install a back up generator, then how is it that you are suppose to tie in your house without a transfer switch of some sort... if you are back feeding your panel then you have essentially created a transfer switch. ATS's do the same thing just automatically. I guess im missing something
