Thinking of Solar lease install

[Ikk]

I am in the process of looking at leasing a solar system. I am looking at the Prepaid option. I am currently with SCE and it seems they keep raising rates here in SoCal like crazy. the system we were quoted is as follow.

21 250w 5.15KW DC system using Ying Li or Trina panels

Power 1 inverter

This would produce 7,537 KW annually

this would be for 20 years bumper to bumper warranty

the prepaid option would cost $13,180
or 9.2cents KWH

This will also help offset my chevy volt charging which has added close to 50 dollars a month to my electric bill.

it would lower my bill on average to $72 a month from $274.00 at todays prices.

I don't plan as this being my last house so this is why I plan on leasing. Also I prefer the prepay plan over the monthly for the fact that at $126. month over 20 years would cost $30,240

anyone have any thoughts on the above. I know in the long run buying a system makes more sense. I usually purchase my cars for 10 years or so.

[Ian S]

I am in the process of looking at leasing a solar system. I am looking at the Prepaid option. I am currently with SCE and it seems they keep raising rates here in SoCal like crazy. the system we were quoted is as follow.

21 250w 5.15KW DC system using Ying Li or Trina panels

Power 1 inverter

This would produce 7,537 KW annually

this would be for 20 years bumper to bumper warranty

the prepaid option would cost $13,180
or 9.2cents KWH

This will also help offset my chevy volt charging which has added close to 50 dollars a month to my electric bill.

it would lower my bill on average to $72 a month from $274.00 at todays prices.

I don't plan as this being my last house so this is why I plan on leasing. Also I prefer the prepay plan over the monthly for the fact that at $126. month over 20 years would cost $30,240

anyone have any thoughts on the above. I know in the long run buying a system makes more sense. I usually purchase my cars for 10 years or so.

It sounds like a reasonable deal although you may wish to get some other quotes if you haven't done so already. Nothing wrong with leasing solar as it's not the same type of asset as a car. Businesses lease equipment all the time because it makes financial sense. The same can often be true with solar. I have a prepaid lease and am happy with how it's working out. If it really is going to save you $200 a month, then it's probably one of the best investments you'll ever make. Consider it as if you were loaning someone the $13,000 and the monthly electric savings is the amount of the "loan" payment. You can use a simple loan program to figure out the effective interest rate paid on this "loan" over 20 years. Plus it's effectively tax free and there's no worry about the borrower not making the payments.

I would advise going with a nationwide leasing firm although I suspect that's what you're doing. It's also prudent to put as little $$ down as possible - I didn't have to pay anything until after the system was up and operating.

[zrtmatos]

Testing out

my first post on this site. lots of info!

[v.chill@yahoo.com]

in northern california, i am hearing $2-2.20/watt quotes for prepaid lease systems. check for more quotes from other installers. pls let me know if you gotten better quotes.

I am in the process of looking at leasing a solar system. I am looking at the Prepaid option. I am currently with SCE and it seems they keep raising rates here in SoCal like crazy. the system we were quoted is as follow.

21 250w 5.15KW DC system using Ying Li or Trina panels

Power 1 inverter

This would produce 7,537 KW annually

this would be for 20 years bumper to bumper warranty

the prepaid option would cost $13,180
or 9.2cents KWH

This will also help offset my chevy volt charging which has added close to 50 dollars a month to my electric bill.

it would lower my bill on average to $72 a month from $274.00 at todays prices.

I don't plan as this being my last house so this is why I plan on leasing. Also I prefer the prepay plan over the monthly for the fact that at $126. month over 20 years would cost $30,240

anyone have any thoughts on the above. I know in the long run buying a system makes more sense. I usually purchase my cars for 10 years or so.

[Ikk]

in northern california, i am hearing $2-2.20/watt quotes for prepaid lease systems. check for more quotes from other installers. pls let me know if you gotten better quotes.

My understanding is that Solar leases are competing with the electric company. I know this because my brother has DWP, here in Los Angeles and I have SCE in Los Angeles. His system cost is less per watt then mine because DWP's rates are lower then SCE. But than again since my rates are much higher than his my larger system has a shorter ROI then his. His is 7 years where mine is 5 Years based on current rates and consumption.

[russ]

My understanding is that Solar leases are competing with the electric company. I know this because my brother has DWP, here in Los Angeles and I have SCE in Los Angeles. His system cost is less per watt then mine because DWP's rates are lower then SCE. But than again since my rates are much higher than his my larger system has a shorter ROI then his. His is 7 years where mine is 5 Years based on current rates and consumption.

Sorry but that is a real apples to oranges comparison. Solar leases are not really competing with the electric co - at least the electric co could care less.

[Ikk]

Sorry but that is a real apples to oranges comparison. Solar leases are not really competing with the electric co - at least the electric co could care less.

I should of worded it differently, sorry. What I was meaning is that the solar leasing company only needs to have beat the cost of the electric company. So say they are trying to earn your business and cutting your bill by 40%. For myself where my rate in SCE is higher then DWP where my brother lives his solar system cost less per kilowatt then my system. Hope I am making sense.