I am in the process getting a 4.7 to 5 KWh Solar Panel Array in NJ through SolarCity which will cover 85% of my Electricity needs. I chose the 10-year loan option(Not lease) since I want to own the tax credits and SRECs which is the only reason why this project will make financial sense. I already had the site survey and I am waiting for the final system design however I have the following questions and I haven't got a response yet.
1) Solarcity quoted the system with 18 240Watt panels but they said that they could give me the option with the newer 310 Watt LG Panels. Are the LGs the standard panels used by solarcity or this was a Sales pitch to get me into getting the system?
2) My current 100Amp electrical Panel is pretty maxed out except 2 Blank spots. However I requested to be considered for the 200Amp Upgrade since I would like to have the option for a future Car charger and/or Grid battery. I was was told that solarcity could upgrade my panel to 200Amp with minimum cost to me. Does anyone have any experience with that?
3) Even though the sales person made a reference of the SREC ownership I am assuming that somebody from Solarcity will provide me with some assistance with the required Docs (Site Map) and SREC Registration signatures. One line that seemed to bother me is a line called "SREC Upfront for Financed Systems" which will be credited to me with the built of the system. Does this mean that Solarcity will be able to benefit with the SREC Credits and just give me a portion upfront? I had exclusively told them that I will be signing only if I owned then Tax Credits.
4) On the good side is that one of the VPs for Solarcity lives in my town and he stopped by to introduce himself.
5) The registration process for the NJ SREC Program seems to be a bit tricky since they require me to register the project within 10 working days when the contract will be last signed. Does this mean that this time will be counting after my design proposal is signed? Any advice on this?
6) On a sidenote it seems that the NJ SREC Program requires me to produce Electricity up to my yearly consumption. Does this mean that If my system produces more electricity than I will consume I won't qualify for SREC Credits at all or any overproduction will not count in the SRECs? For how many years I can claim SRECs in NJ? Is it 10 or 15 years.
Thanks
Mike
1) Solarcity quoted the system with 18 240Watt panels but they said that they could give me the option with the newer 310 Watt LG Panels. Are the LGs the standard panels used by solarcity or this was a Sales pitch to get me into getting the system?
2) My current 100Amp electrical Panel is pretty maxed out except 2 Blank spots. However I requested to be considered for the 200Amp Upgrade since I would like to have the option for a future Car charger and/or Grid battery. I was was told that solarcity could upgrade my panel to 200Amp with minimum cost to me. Does anyone have any experience with that?
3) Even though the sales person made a reference of the SREC ownership I am assuming that somebody from Solarcity will provide me with some assistance with the required Docs (Site Map) and SREC Registration signatures. One line that seemed to bother me is a line called "SREC Upfront for Financed Systems" which will be credited to me with the built of the system. Does this mean that Solarcity will be able to benefit with the SREC Credits and just give me a portion upfront? I had exclusively told them that I will be signing only if I owned then Tax Credits.
4) On the good side is that one of the VPs for Solarcity lives in my town and he stopped by to introduce himself.
5) The registration process for the NJ SREC Program seems to be a bit tricky since they require me to register the project within 10 working days when the contract will be last signed. Does this mean that this time will be counting after my design proposal is signed? Any advice on this?
6) On a sidenote it seems that the NJ SREC Program requires me to produce Electricity up to my yearly consumption. Does this mean that If my system produces more electricity than I will consume I won't qualify for SREC Credits at all or any overproduction will not count in the SRECs? For how many years I can claim SRECs in NJ? Is it 10 or 15 years.
Thanks
Mike
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