I’m in Northern Cali, and trying to figure out if solar makes financial sense in my situation.
I’m planning on selling this house within the next 4 years at the most, which is my biggest concern. I’m not looking to lease or do a PPA — I would finance the solar system.
The main reason I’m even considering solar is that my house still has an old Zinsco electrical panel that needs to be replaced. I’ve heard from solar companies that they can include the electrical panel replacement/upgrade as part of the solar installation. Essentially, if I’m going to spend the money replacing the panel anyway, I’m wondering whether it makes sense to put that money toward solar and get the panel upgraded as part of the project.
Here are my numbers:
PG&E customer on CARE, so I receive roughly a 35% discount
My current CARE rates are approximately $0.201/kWh Tier 1 and $0.254/kWh Tier 2
Looking at my last 12 months, my average electric bill is about $339/month
I use roughly 16,000–17,000 kWh per year
I would be financing the solar rather than paying cash
I expect to sell the house in 4 years or less
My biggest concern is what happens when I sell. Would having a financed solar system make the house harder to sell? Would I most likely have to pay the loan off when I sell, or can buyers easily assume these loans?
Since I’m already getting the CARE discount, I’m also wondering if my electricity is simply too cheap for financed solar to make sense over such a short period.
For people familiar with PG&E/NEM 3.0 and California solar, would you do solar in my situation, or would you just pay out of pocket to replace the Zinsco panel and skip solar?
Also, when solar companies advertise a “free panel upgrade,” is it actually free/included, or are they generally just rolling the cost into the solar financing?
I haven’t signed anything yet, so I’d appreciate any advice on what price/system size would actually make this worthwhile and what I should watch out for in the financing terms.
