Solar City

[pleppik]

the 2.5% is a killer by year 15.

Maybe, maybe not. If inflation averages 3% over the next 15 years, it looks like an OK deal.

[MikeInRialto]

Looks like he was given a purchase price option and a lease option - the 2.5% is a killer by year 15.

[HX_Guy]

Just talked to them on the phone and got a rough quote today.

My average bill is $600/month (from actual usage numbers I gave the guy)

The system they'll sell me costs $86,000 per their report.

I get a $26,000 credit when I file tax return for 2015, so net cost is $60,000

My bill, per their calculations, goes from $600/month to $270/mo (13.1 cents per Kw hour)

My payment to them goes up by 2.5% per year, which I assume is far below what Southern Cal Edison will increase my bill by over future years.

I think they warranty the system for 30 years, and in 30 years it's paid off.

I'm just starting to look at this, but this sounds like a pretty good deal.

Any feedback?

So this is for a purchase, not for a lease? And it has an escalator? Normally I've seen escalators on leases, not loans. Wasn't aware that SolarCity was even doing purchases.

[MikeInRialto]

Just talked to them on the phone and got a rough quote today.

My average bill is $600/month (from actual usage numbers I gave the guy)

The system they'll sell me costs $86,000 per their report.

I get a $26,000 credit when I file tax return for 2015, so net cost is $60,000

My bill, per their calculations, goes from $600/month to $270/mo (13.1 cents per Kw hour)

My payment to them goes up by 2.5% per year, which I assume is far below what Southern Cal Edison will increase my bill by over future years.

I think they warranty the system for 30 years, and in 30 years it's paid off.

I'm just starting to look at this, but this sounds like a pretty good deal.

Any feedback?

Remember net metering is only for 20 years.

Judging from that price they quoted - I'm guessing is for a 17kw system, in which case you should be able to get for sound $56K which would be about $49K after federal rebate

What area do you live in?

[solar pete]

Just talked to them on the phone and got a rough quote today.

My average bill is $600/month (from actual usage numbers I gave the guy)

The system they'll sell me costs $86,000 per their report.

I get a $26,000 credit when I file tax return for 2015, so net cost is $60,000

My bill, per their calculations, goes from $600/month to $270/mo (13.1 cents per Kw hour)

My payment to them goes up by 2.5% per year, which I assume is far below what Southern Cal Edison will increase my bill by over future years.

I think they warranty the system for 30 years, and in 30 years it's paid off.

I'm just starting to look at this, but this sounds like a pretty good deal.

Any feedback?

Hi Dave and welcome to Solar Panel Talk,

In order for anyone to offer an opinion we need more info, like what is the size of the system, what type of install is it, what are the brands of panels and inverters.

In the past people have come here seeking opinions about SC but all generally end up realizing they are very expensive for very ordinary equipment. Perhaps you should go to our site sponsor www.solarreviews.com and see what their customers say about them. Good luck and I hope you keep reading and educating yourself, cheers.

[davelittle]

Just talked to them on the phone and got a rough quote today.

My average bill is $600/month (from actual usage numbers I gave the guy)

The system they'll sell me costs $86,000 per their report.

I get a $26,000 credit when I file tax return for 2015, so net cost is $60,000

My bill, per their calculations, goes from $600/month to $270/mo (13.1 cents per Kw hour)

My payment to them goes up by 2.5% per year, which I assume is far below what Southern Cal Edison will increase my bill by over future years.

I think they warranty the system for 30 years, and in 30 years it's paid off.

I'm just starting to look at this, but this sounds like a pretty good deal.

Any feedback?