Hello everyone, never had solar and am doing my research now but still feel ill equipped to make a sound decision at this point. Wife and I are purchasing a new Lennar home in SoCal. Scheduled to close in April. It is a solar community and Sunstreet solar is a Lennar subsidiary and that is the solar provider. We need to choose between a 20 year PPA or purchasing the panels.
Here are some considerations: family of 4, 2,100 sq ft, single story community, no shading, we run A/C a lot in summer (wife is teacher and is home in summer), no plans to add pool in future, this will be our forever home (as optimistic as that sounds). We do plan on purchasing via financing a 2nd system in the fall of this year to cover all of our additional energy needs. IN 2017 WE USED 10,135 kWh in our current home. Current home is same sq ft 2,100 single story.
Sunstreet is installing an 8-panel system. There is no option to customize, it's 8 panels period. The system is designed to cover approximately 50-70% of estimated needs for family of 4 in 2,100 sq fit home (according to Sunstreet). That said, they are estimating 4000 kWh to be produced annually with annual charges of $580 for use of those hours. The 8 panel system is 2.56kw. Sunstreet did say we can add a 2nd system after the fact not from Sunstreet to cover additional needs.
The PPA is a 20 year term that guarantees a 20% monthly discount from Edison, that is the only monetary guarantee. They say they take the blended average of Edison rates and then deduct 20% off and that is the rate we pay.
We can purchase the 8 panel system for $12,500 then after the tax rebate it would be $8,750. We have the cash to pay for the system but that money was earmarked for other home improvements.
The panels are LG with model # LG320EIK-A5 (320w) and the inverter is Enphase IQ6PLUS-72-ACM. I attached a picture of the specs for your reference. I've been told by a few people in solar industry that these are indeed decent panels.
So here are my questions:
1. Is the equipment I'm getting, LG panels, inverter, and any other related equipment you can see from the specs, good quality for the $12,500 asking price? How much am I overpaying for the system? (Consider I do not have option to customize, reject, or substitute other models.)
2. Should I pocket the $12,500 now and accept PPA, (estimated $50-$60 a month Sunstreet bill under PPA), then purchase 2nd system in the fall to cover the remaining 6,000-7,000 kWh deficit.
-OR-
3. Should we purchase the 2.56kw system now for $12,500 and then also purchase additional system in the fall? Not sure what a 4-5kw system on its own will cost, I've read ~$20,000+.
I really appreciate your guys' help. We don't want to make the wrong decision. IMG_0525.PNG
Here are some considerations: family of 4, 2,100 sq ft, single story community, no shading, we run A/C a lot in summer (wife is teacher and is home in summer), no plans to add pool in future, this will be our forever home (as optimistic as that sounds). We do plan on purchasing via financing a 2nd system in the fall of this year to cover all of our additional energy needs. IN 2017 WE USED 10,135 kWh in our current home. Current home is same sq ft 2,100 single story.
Sunstreet is installing an 8-panel system. There is no option to customize, it's 8 panels period. The system is designed to cover approximately 50-70% of estimated needs for family of 4 in 2,100 sq fit home (according to Sunstreet). That said, they are estimating 4000 kWh to be produced annually with annual charges of $580 for use of those hours. The 8 panel system is 2.56kw. Sunstreet did say we can add a 2nd system after the fact not from Sunstreet to cover additional needs.
The PPA is a 20 year term that guarantees a 20% monthly discount from Edison, that is the only monetary guarantee. They say they take the blended average of Edison rates and then deduct 20% off and that is the rate we pay.
We can purchase the 8 panel system for $12,500 then after the tax rebate it would be $8,750. We have the cash to pay for the system but that money was earmarked for other home improvements.
The panels are LG with model # LG320EIK-A5 (320w) and the inverter is Enphase IQ6PLUS-72-ACM. I attached a picture of the specs for your reference. I've been told by a few people in solar industry that these are indeed decent panels.
So here are my questions:
1. Is the equipment I'm getting, LG panels, inverter, and any other related equipment you can see from the specs, good quality for the $12,500 asking price? How much am I overpaying for the system? (Consider I do not have option to customize, reject, or substitute other models.)
2. Should I pocket the $12,500 now and accept PPA, (estimated $50-$60 a month Sunstreet bill under PPA), then purchase 2nd system in the fall to cover the remaining 6,000-7,000 kWh deficit.
-OR-
3. Should we purchase the 2.56kw system now for $12,500 and then also purchase additional system in the fall? Not sure what a 4-5kw system on its own will cost, I've read ~$20,000+.
I really appreciate your guys' help. We don't want to make the wrong decision. IMG_0525.PNG
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