Thinking of going solar in Rhode Island

[joeno124]

Hi everyone,

I'm new to the solar realm and seriously considering them with the high cost of electricity in Rhode Island. I was looking at Tesla (still waiting on quote) and a more local company, Beacon Solar (anyone have any dealings with them?) out of Massachusetts. I'd like to lay out the quote and have people that are better versed in solar tell me if my quote and my mindset is a decent way to go about this. FYI seasonal electrical rates in RI that I am currently paying, summer rate is $0.103/kWh and winter rate is $0.174/kWh. Just enrolled in balanced billing but RI energy is stating I average around $235/month. Still on NEM 2.0 here in RI. Just put on an 800sqft addition with a mini split heat pump for heat and A/C (cooling not factored in since it is brand new). I think new bill will be averaging around $250/month, if I had to guess. The rest of the house was gutted and redone in 2021 with new insulation, new windows, energy efficient lighting and appliances. Roof on entire house is 5 months old. I also have a true south facing roof with no shading.

My mindset going into this process is that I was going to finance all of the project for max 15yrs. If my monthly payment is equal to or less than my current electrical bill, I feel it is a no brainer. $30/month hook up fee from RI Energy.

Beacon Solar obviously provides the manufacturer's warranty but also a warranty through SolarInsure (not sure if anyone has any feedback on them either), 30yr roof, 30yr parts and labor.

So here is the quote I got from Beacon Solar:

System size: 20 Hanwha 400 panels, No batteries, SolarEdge Inverter, 8kW System, 1yr solar production 9751kWh

Energy Offset: 108%

System Cost: $29,560

RI REF Grant (Instant Rebate): $5000

New System Cost: $24,560

RI Class 1 REC: $2,854.21

Federal Tax 30%: $7,368

Net System Cost: 14,337.79

I put a $2456 deposit down (refundable)

I figured financing out for 15 yrs without the federal and state tax write offs because that can be a variable number and I might not actually get the full return (need to call accountant). Yes.... I know the rates are high... nothing I can do.

Bridge Solar Loan:

15yr 9.13% before federal and state tax credits: $226/month

15yr 9.13% if I receive full tax benefits: $122/month

To me, they are in the realm and seem to be a reliable local business. I think that the price is a little high but not terrible. I'm very comfortable with the warranty they offer. I'm sorry for the long and detailed post but I figured the more seasoned solar gurus on here could pick this apart for me and help me out. I just want informed opinions before dropping this much cash. I'd like to try and negotiate down if I can. Not sure how much wiggle room there is.

[Mike 134]

Just a quick thought if the deposit is refundable why do they need one?

[Rade]

Hello, JoeNo! Rhode Islander here with solar! We just passed our 1st year for being online to the grid.

1) As we learned this year, it is a 30% tax CREDIT. That means you can use that credit to offset your Income Tax liability until that credit is used up. It's not an immediate tax refund. For us, my husband refiled a W-4 at work and I stopped having taxes taken out of my Social Security (I'm retired) check each month. We'll do that until our accountant tells us otherwise.

2) We did our homework on solar. Watched more YouTube videos than I care to admit. Here in RI, Tesla does not have a really good footprint or reputation for service, at least not right now. I talked to my neighbors who went solar. Some did the "Door Knocker" installations (the vans that blanked a neighborhood soliciting solar installations), promising "no out-of-pocket money, just your roof! And you get the energy credit off your electric bill!". One had her system go offline for 6 months because the installer moved out the region and the vendor they sold her system was not willing to effect a repair. The second did a "self install" with his buddy who "does electric", and it looks like it with panels in places that won't generate power and conduit running everywhere. Another neighbor went with a regional "mom and pop" installer. The panels are not really tight to the roof and he's been dealing with a lot of issues of finger-pointing between component suppliers. We went for Generac. Good reputation in the region; no glaring red lights on the YouTube videos. The Generac name is on all the parts - ONE number to call when we had a few post-installation issues. The installation looks INCREDIBLE - panels are tight to the roof, the conduit is hidden (photo used for my site icon). Generac also has a great warranty on all of the components. Beacon Solar was not really established here when we began our research. I see them working all over he neighborhood these days, though.

3) The biggest selling point to ME with Generac was their willingness to work with our contractor as we were having an addition built on our home between our garage and main home. We did NOT have a contract in place, but knew we wanted to go solar. The "Mom & Pop" installers never returned our calls when I asked questions about pre-wiring electrical conduit through the addition. Not only did our regional Generac rep, Blue Light Energy, step in, they got the Generac electrician to work with our construction general contractor to get the right cabling installed. We went into contract with them about the time our construction was wrapping up. We opted for the 18kW battery backup as opposed to a propane generator. The batteries have been a godsend - This time of year, we are using them to power the house overnight. The panels come online early enough in the morning to both recharge the batteries and provide sufficient power to the home. Net - we are not pulling any power from the grid.

4) We bought our system outright. All told, it ran $69k - panels, inverter, maxed out battery backup. We used a HELOC to pay for it (along with the home renovations). The HELOC is currently at Prime, around 8% APR, and we got it through our Credit Union. Rates are starting to drop.

5) We realized $501 in energy credits by the end of the Rhode Island solar season (first week of November last year when the house began using more than it was generating). Rhode Island Energy (our PoCo) used up those credits by early February. When all was said and done, we ended up with $112 in electric charges that were not offset by a year of solar. I have learned the lesson that our home is a (f-ing) energy hog. But then, thinking we were going to become "Carbon Neutral" we had our oil burning hot water tank and furnace replaced with heat pump technology. Yes, it works great until you have to heat your home in the depths of winter when the panels are generating little energy. Electric heat. Go figure? >KNOWING THAT< we'll plan better for next Winter. You also teach yourself how to do things like cook EVERYTHING in the oven at one time. Swap the inverter into battery mode to dry a load of clothes, etc. Rhode Island solar generation season began the first week of April when we started generating more power than the house was using. Right now, we are starting to accrue credits.

6) Generac had a really nice app that lets you control your inverter and battery settings from any device; just saying.

7) You are here. This blog has been INCREDIBLE. When my hair was standing on end, the kind folks here talked me off the ledge, The biggest lesson was PATIENCE. It DID take about a year for all the new installation gremlins to work themselves out. Our system has been running superbly ever since.

I hope I offered you something useful. Good luck!

Rade

[joeno124]

Just a quick thought if the deposit is refundable why do they need one?

Not sure but I know of many other reputable companies that take refundable deposits. Rep states that it helps speed the process up since the $5000 credit from the State expires 6/21 and I haven't signed anything yet.

[joeno124]

Hello, JoeNo! Rhode Islander here with solar! We just passed our 1st year for being online to the grid.

1) As we learned this year, it is a 30% tax CREDIT. That means you can use that credit to offset your Income Tax liability until that credit is used up. It's not an immediate tax refund. For us, my husband refiled a W-4 at work and I stopped having taxes taken out of my Social Security (I'm retired) check each month. We'll do that until our accountant tells us otherwise.

2) We did our homework on solar. Watched more YouTube videos than I care to admit. Here in RI, Tesla does not have a really good footprint or reputation for service, at least not right now. I talked to my neighbors who went solar. Some did the "Door Knocker" installations (the vans that blanked a neighborhood soliciting solar installations), promising "no out-of-pocket money, just your roof! And you get the energy credit off your electric bill!". One had her system go offline for 6 months because the installer moved out the region and the vendor they sold her system was not willing to effect a repair. The second did a "self install" with his buddy who "does electric", and it looks like it with panels in places that won't generate power and conduit running everywhere. Another neighbor went with a regional "mom and pop" installer. The panels are not really tight to the roof and he's been dealing with a lot of issues of finger-pointing between component suppliers. We went for Generac. Good reputation in the region; no glaring red lights on the YouTube videos. The Generac name is on all the parts - ONE number to call when we had a few post-installation issues. The installation looks INCREDIBLE - panels are tight to the roof, the conduit is hidden (photo used for my site icon). Generac also has a great warranty on all of the components. Beacon Solar was not really established here when we began our research. I see them working all over he neighborhood these days, though.

3) The biggest selling point to ME with Generac was their willingness to work with our contractor as we were having an addition built on our home between our garage and main home. We did NOT have a contract in place, but knew we wanted to go solar. The "Mom & Pop" installers never returned our calls when I asked questions about pre-wiring electrical conduit through the addition. Not only did our regional Generac rep, Blue Light Energy, step in, they got the Generac electrician to work with our construction general contractor to get the right cabling installed. We went into contract with them about the time our construction was wrapping up. We opted for the 18kW battery backup as opposed to a propane generator. The batteries have been a godsend - This time of year, we are using them to power the house overnight. The panels come online early enough in the morning to both recharge the batteries and provide sufficient power to the home. Net - we are not pulling any power from the grid.

4) We bought our system outright. All told, it ran $69k - panels, inverter, maxed out battery backup. We used a HELOC to pay for it (along with the home renovations). The HELOC is currently at Prime, around 8% APR, and we got it through our Credit Union. Rates are starting to drop.

5) We realized $501 in energy credits by the end of the Rhode Island solar season (first week of November last year when the house began using more than it was generating). Rhode Island Energy (our PoCo) used up those credits by early February. When all was said and done, we ended up with $112 in electric charges that were not offset by a year of solar. I have learned the lesson that our home is a (f-ing) energy hog. But then, thinking we were going to become "Carbon Neutral" we had our oil burning hot water tank and furnace replaced with heat pump technology. Yes, it works great until you have to heat your home in the depths of winter when the panels are generating little energy. Electric heat. Go figure? >KNOWING THAT< we'll plan better for next Winter. You also teach yourself how to do things like cook EVERYTHING in the oven at one time. Swap the inverter into battery mode to dry a load of clothes, etc. Rhode Island solar generation season began the first week of April when we started generating more power than the house was using. Right now, we are starting to accrue credits.

6) Generac had a really nice app that lets you control your inverter and battery settings from any device; just saying.

7) You are here. This blog has been INCREDIBLE. When my hair was standing on end, the kind folks here talked me off the ledge, The biggest lesson was PATIENCE. It DID take about a year for all the new installation gremlins to work themselves out. Our system has been running superbly ever since.

I hope I offered you something useful. Good luck!

Rade

Honestly, didn't even think of Generac and I will explore that option. I don't mind taking my time making this decision. Its a big one. This forum has been a huge help. I've enjoyed reading the posts and learning.

[Rade]

Honestly, didn't even think of Generac and I will explore that option. I don't mind taking my time making this decision. Its a big one. This forum has been a huge help. I've enjoyed reading the posts and learning.

That's a good place to be. We put out for several bids and met with installers throughout the process. We came to the decision that we will be staying in our home for at least another 12-15 years, so this investment will be well paid off by then. We're also getting up there in age and I'm thinking a lot about how much do I want to step up and manage this technology beyond basic system status. We really like having one phone number to call.