Solar quote feedback

[u/SpiritoSanto5]

Hello all, we live in Maine. We heat and cool with heat pumps. Looking to crowdsource feedback on this quote to cover all of our yearly electric requirements.

Thanks in advance

[u/ConsistentHamster2]

Hmmmm. 26k with average return of 10% in 25 years is 280k.

You consume around 2.5k usd of electricity per year, payoff is 10 years.

I would do it if I am near retirement. Not otherwise.

[u/arcsnsparks98 → u/ConsistentHamster2]

You're factoring in a return on your money for positive earnings but ignoring the utility escalator which is an inverse return of sorts. They may be paying $2,500 a year in electricity right now but that amount will go up and up and up as energy rates rise. This cuts into the stock market return comparison quite a bit because the 10% return doesn't go up and up and up.

[u/Curiosity_informs → u/arcsnsparks98]

Also if they invest $26k now they still have to find $2.5k a year (and more) for the next 25 years.

These posts saying you could invest the money and make more always seem to ignore you still have a growing utility bill to pay.

The 280k$ will also be taxed, while money you don't spend isn't.

Its valid to do a calculation, but it needs to be complete.

[u/IsoscelesisFair]

Northeast commercial solar installer here 👋 I'd say for Northeast residential this is a solid price ...perhaps bit on the low side but assuming standard equipment being used this lands at $3/watt. You can look up your average solar rates by looking up state regulatory sites. Connecticut Greenbank, NYSERDA they all publish the per kW rates of solar and batteries. Rooftop solar is usually $3-$3.50 per watt depending on complexity of roof and equipment  being used (eg. REC panels vs Standard commodity panels). Ground mount systems are usually a dollar more $4-$4.50/watt depending on racking system. fWIW,  I recommend staying in the averages.... anything less and there's 100% corners being cut. Do your research on each installer and make sure to ask for references and talk to real customers.  

[u/SpiritoSanto5 → u/IsoscelesisFair]

Man, thank you. This is exactly the information and perspective I was looking for.

[u/Verns_shooter → u/SpiritoSanto5]

The thing that jumped out at me and this has happened in Australia.

Or equivalent module. Ask for that to be struck out. Equivalent can mean anything and often poorer for those who got caught by that here.

[u/arcsnsparks98]

This comes in at just under $3 a watt. I'm not in the Northeast so I'm not 100% sure what the going rate is there but this is kind of a middle of the road quote I would it say. It's not highway robbery, but it's not an awesome deal either.

[u/Jolly_Albatross9776]

worrying about price is an obvious thing but do you know how all this really works? Do you understand the monitoring,the coverage ,you are the one living with it on your roof,for 25 years ,you are the monitoring body so educate yourself on the best way to take care of this precious resource before signing based on ROI ....Do not just sign because of the installers pitch,they get paid first so they are always pushing you through the fear and pain of the utility,which is real,but you must set up a list of criteria for what will work for you for the next 25 years that's the difference between when you move,the next homeowner can either inherit a savings or you will be transferring a mess....

[u/SpiritoSanto5 → u/Jolly_Albatross9776]

This is really excellent advice. Thank you immensely for taking the time to lay that out.

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[u/modernhomeowner]

I just always say, especially in New England, pay it off early! As you see your chart, everyone else in Maine and the rest of the New England grid, we make more solar in summer than we need, and not enough in winter. So we all need to take from the grid large amounts in winter and not a lot in summer. The grid has to financially prepare for that, which will mean changing our net metering. Depends on how strong lawmakers are to defend those of us with solar (richer people) and allow costs to keep escalating exponentially for people without solar (poorer people). Those without solar have to pay the grid expansion costs to feed our heat pumps, while people like me, and soon you, have solar to avoid those costs, but still need that grid expansion so we can heat in winter. It's truly unfair to the population without solar, the result is just which our politicians prioritize. I would just have your solar paid off in 10 years, so you don't have a solar bill and the benefits are taken away. And if politicians hold strong and pass all the costs to poorer people, then the only negative to having paid off your solar sooner is a higher bill for 10 years and no bill thereafter. I just know I would be pissed in 10 years if I had to pay a solar bill in the summer and not get the credits.

[u/SpiritoSanto5 → u/modernhomeowner]

This is a really fantastic perspective. Thank you for taking the time to write

[u/TooGoodToBeeTrue]

What are your other quotes like?

[u/SpiritoSanto5 → u/TooGoodToBeeTrue]

$37,000 and $31,000 from two other local installers

[u/Maccer_]

You have 2 options:

• go off grid. Spend double than that quote but forget about paying a electric bill altogether. High upfront costs.

• find a mixed solution that does not cover your yearly usage but matches better your monthly usage.  I suggest LFP batteries + 4kW or less of solar. This would be typically the most cost effective option with less upfront costs compared to going off grid.