Seeking feedback for my newly signed 20-yr SolarCity 'prepay' SolarLease in Plano, TX

[MIB]

Hello, I just signed an amendment! SolarCity is reducing both my guaranteed production and my total payment by 13% each. Since this is a significant change, and as this forum thread is getting lengthy, I will reboot my request for feedback in a new post tonight. Thanks much!

[Naptown]

Keep in mind these are all GTI's
The off grid and hybrid warranties are shorter. Generally 2-5 years

[KRenn]

What inverter comes with a 25 year warranty? SMA is 5-10 years depending on product, PowerOne is 10 years, Outback is 5, but I haven't seen anything over 10.

SMA offers 10 year warranty, extendable to 20 years I believe. Power-One offers a 10 year warranty, extendable to 20 years as well, Fronius also offers the same 10 years, extendable to 20. The only major inverter manufacturer I know that offers less than 10 years on their units is PVP and even that is changing.

[KRenn]

I'd generally expect about 5 years from an inverter, but the problem with leasing is that you're locked in to whatever they provide at the time. As technology improves, you can't just change out to a better system.

A. Your claim on the inverter lifespan is just asinine, a standard GT inverter will get you 12-14 years.


B. Who cares if technology changes? If I lock into a system that is offsetting the vast majority of my electric bill and will continue to do so well into the future, even with degradation considered, why would I care about new technology if this current system is still fitting my needs? Let's not forget about any associated adoption costs with future technology...if there is any major changes in the next 10-20 years.

I can't say much without seeing the actual contract terms, but I also can't imagine, even at the volume they're likely buying, that they're getting the equipment cheaply enough to be able to turn a profit at that price while expecting to give you (on average) three more inverters and a new roof during the lease. I'd be reading the fine print really closely to see what loopholes they've left themselves.

It's like any other lease, they're doing well enough with the FMV/depreciation that they can make money off the system and often times pool into long-term warranty coverage services....also when they do replace the inverter, they're going to pick whatever inverter is cost-effective for them at that time.

[Naptown]

Fronius is standard 10 year warranty extending to 20 years for an additional fee
enphase M215 is 25 years
Enphase M190 m380 and m210 are 15 years standard.

[inetdog]

What inverter comes with a 25 year warranty? SMA is 5-10 years depending on product, PowerOne is 10 years, Outback is 5, but I haven't seen anything over 10.

Any manufacturer of a grid-tie inverter for use in California must offer a minimum 10 year warranty, at least to their California customers. Outback does this via a special paid warranty option.
The 20-25 year warranties I have seen are on micro-inverters only, I think. And I don't think any companies offering them have a 25 year business record behind them yet!

[AirWindSolar]

Average lifespan on a string inverter (grid tie) is about 12-14 years. warranted for 10-25
Or you must do a lot of off grid where the inverter life is much shorter.

What inverter comes with a 25 year warranty? SMA is 5-10 years depending on product, PowerOne is 10 years, Outback is 5, but I haven't seen anything over 10.

[Naptown]

You must be new to the industry
Average lifespan on a string inverter (grid tie) is about 12-14 years. warranted for 10-25
Or you must do a lot of off grid where the inverter life is much shorter.

[AirWindSolar]

Thanks much for your feedback on my 20-year lease. The $13k includes all needed repairs and replacements, and from what I hear, the inverter will likely need to be replaced at some point during the term. Do you agree? What is a good estimated cost of a replacement inverter (+ installation) nowadays, maybe $2k?

I'd generally expect about 5 years from an inverter, but the problem with leasing is that you're locked in to whatever they provide at the time. As technology improves, you can't just change out to a better system.

Insurance is rarely a "good deal", as it is priced to make $. Time will tell if the premium was worth it (who knows what parts of the system or roof will need fixing), but as this will be my first foray into solar panels, I like having peace-of-mind coverage and monitoring.

I can't say much without seeing the actual contract terms, but I also can't imagine, even at the volume they're likely buying, that they're getting the equipment cheaply enough to be able to turn a profit at that price while expecting to give you (on average) three more inverters and a new roof during the lease. I'd be reading the fine print really closely to see what loopholes they've left themselves.

[MIB]

Just looking at the numbers, what I see is that our price on a ~8kW system installed is around $23,000. 30% Fed tax credit gives you $6,900 of that back, so $16,100 overall for the system. $13k to lease something you could own right now free and clear for $16k just doesn't seem like a good deal.

Thanks much for your feedback on my 20-year lease. The $13k includes all needed repairs and replacements, and from what I hear, the inverter will likely need to be replaced at some point during the term. Do you agree? What is a good estimated cost of a replacement inverter (+ installation) nowadays, maybe $2k?

Insurance is rarely a "good deal", as it is priced to make $. Time will tell if the premium was worth it (who knows what parts of the system or roof will need fixing), but as this will be my first foray into solar panels, I like having peace-of-mind coverage and monitoring.

[AirWindSolar]

Just looking at the numbers, what I see is that our price on a ~8kW system installed is around $23,000. 30% Fed tax credit gives you $6,900 of that back, so $16,100 overall for the system. $13k to lease something you could own right now free and clear for $16k just doesn't seem like a good deal.

[zipposters]

If you wish to advertise on the site contact user name Jason. Next attempt will get you banned.

[josefaz]

The 11 FILTERED feedback entries about SolarCity on Yelp were all very favorable.

That's odd, I see 343 filtered. Anyway, I can't guarantee how accurate the site is but I could not find reviews from other local competators.

[MIB]

Check feedbacks on Yelp (especially the FILTERED feedbacks). You can also localize your search and get an idea about the service they provide. Likewise, BBB in Phoenix rated them "A".

The 11 FILTERED feedback entries about SolarCity on Yelp were all very favorable.

[josefaz]

Check feedbacks on Yelp (especially the FILTERED feedbacks). You can also localize your search and get an idea about the service they provide. Likewise, BBB in Phoenix rated them "A".