Tanks and solar

[xraycer]

I understand. We have a lot of natural electricity sources in Canada. The wind turbines have been advertised to home owner's here for a decade or more now.

I'm not sure where u guys live but that sounds to good to be true. There's no company here that offers all of that.



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We're both from the US northeast. Here's a website you can check out to get an idea of how this work down here http://www.solarcity.com/residential

 

[jaws7777]

We're both from the US northeast. Here's a website you can check out to get an idea of how this work down here http://www.solarcity.com/residential

Thanks dude will check it out. Just got off the phone with empower setting up a consultation. Gonna give a few more companies a call

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[LukeOscar]

We're both from the US northeast. Here's a website you can check out to get an idea of how this work down here http://www.solarcity.com/residential

After looking into it further it's not quite as nice as you guys make it seem. For the system to not cost you any money your signing up for a 30 year term. You owe a loan and it's payed off by your added solar energy. But what happens if you use more power at home one month and you don't make up enough power to pay your loan payment? Boom your paying for it out of pocket.

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[LukeOscar]

They advertise lower monthly bills and tax credits but at the bottom of the page it says 6-8 years payback on investment.
One page states that you own the system on loan.

Next page says they own maintain and have full rights to the equipment and have a 20 year maintenence plan free.

I would see a lawyer before even considering it. It seems like a pretty elaborate trap

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[LukeOscar]

Don't get me wrong I know some of those are based on buying the system outright and getting it on loan.

But at 4.5 - 4.99% annual interest rate for 30 years and you have to pay 30% of the system cost by June 1st after signing up.

I just don't see how this would make a difference. You may pay slightly less per month. But at what cost to your home and rights as a home owner. You might as well rent a room out and make much more money and have less responsibility.

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[xraycer]

After looking into it further it's not quite as nice as you guys make it seem. For the system to not cost you any money your signing up for a 30 year term. You owe a loan and it's payed off by your added solar energy. But what happens if you use more power at home one month and you don't make up enough power to pay your loan payment? Boom your paying for it out of pocket.

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That's just 1 business. There are many, many others with different options. I haven't looked deeply into it since I know my house is not situated for optimal condition. I've heard peoples' personnal accounts and they love it!

 

[LukeOscar]

That's just 1 business. There are many, many others with different options. I haven't looked deeply into it since I know my house is not situated for optimal condition. I've heard peoples' personnal accounts and they love it!

I will almost garuntee that the differences Will be minor from company to company. These systems can run up to $30k plus a 20 or 30 year maintenence plan. That's a pricey ordeal. You and I both know that the company isn't going to be paying money out of there profits.

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[jaws7777]

Also different state to state...i would qualify for a tax credit from state, city, and federal, and a rebate from con ed. My neighbors went through the whole thing but due to an apartment they didnt finalize it. They fee that was leased was cut down by almost 60% after the rebates which the company takes up front. You lease the remainder. In his case it was something like a 10k lease over 20 yrs. Who knows may not be a good idea but im going to dig deaper have two consultations set up already

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[xraycer]

I will almost garuntee that the differences Will be minor from company to company. These systems can run up to $30k plus a 20 or 30 year maintenence plan. That's a pricey ordeal. You and I both know that the company isn't going to be paying money out of there profits.

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Like I posted earlier, there's been MFK members on here who have mentioned they're on these solar leasing program and they highly recommend it. Like Jaws7777 says, it also matters where you live. Someone living in the desert is going to really benefit, while someone from way north with tons of annual snow fall Canada probably not as much

 

[LukeOscar]

Also different state to state...i would qualify for a tax credit from state, city, and federal, and a rebate from con ed. My neighbors went through the whole thing but due to an apartment they didnt finalize it. They fee that was leased was cut down by almost 60% after the rebates which the company takes up front. You lease the remainder. In his case it was something like a 10k lease over 20 yrs. Who knows may not be a good idea but im going to dig deaper have two consultations set up already

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I hear ya. But still. 10k over 20 years at 4.5 - 4.99% annually? literally if your consumption is remotely close to what your panels are making you will most likely end up paying more for your electricity. From what I'm reading and understanding this would actually be detrimental for what we want to use it for. This is a way to save some money and make someone else rich if your a hermit and don't use much power to begin with.

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