Well, I made the decision to lease a system for 20 years. I got the best panels made in the world (yes, I researched it throughly). The panels are warrenteed for 25 years. It took them about 4 weeks to install and included a new 200 amp electrical panel on the house, replacing our older 125 amp panel. Also Edison had to come out and replace my meter for one that runs in both directions...forward and backward. It was another month before I got it inspected by Edison, the City and the County and got everything signed off and approved. So, here's what the money is looking like at this point.

Up front money and/or any balloon payment = 0

Down payment = 0

State rebate = $2012 (paid to solar company)

Federal Tax Credits = just over $12,000 (this goes to the solar company holding the lease)

My monthly lease payment for the next 12 months = $137.00

My Edison bill (I just got my first bill for a full payment cycle) = .65 cents (this was for taxes) plus I got an energy CREDIT that rolls over to this next month for $29.83.

Keep in mind that my average Edison bill (12 month average) WAS $175.00.

All energy credits (+ or -) roll over each month for a 12 month period. At the end of my 12 month period (which started when the City signed off the permit), Edison and I will square up. Either they cut me a check or I cut them a check. Based on what I am seeing for the output now, I should have enough energy credit to get me through the non-sunny days of winter and come this time next year, Edison will be the ones cutting the check. Even is I just break even at the end of the year, I am money ahead.

If I could have afforded to buy a system rather than lease a system, I would have saved a little more money in the long run (15 years) but would have had a much higher monthly payment now ($190) and would have needed to come up with about $5k for a down. So yea.........those of you that look at the pie in the sky senario, it would be better to buy. For us, based on our age, the optional lease buyout and a couple of other things, we decided this was the way we wanted to go.

Our lease contract looks like this:

$137.00 per month for 12 months. Then, the payment goes up 2.9% and we pay that for another 12 months. Then, the payment goes up again 2.9% and we pay that for 12 months, etc., etc., etc.,

We will realize a monthly payment equal to what we HAD been paying BEFORE the system installation in year #8 of the 20 year lease ($175/month).

To top it all off, Edison (out here in California) put in a notice/request with the Public Utilities Commission last March for a 40.3% price increase over the next 3 years. Their justification is that the poplulation of California has outgrown the existing energy grid and they need to upgrade it in most areas and enlarge it in some areas. They are already warning of rolling brown-outs and we had 2 last week when it was really hot. The PUC makes a ruling on Edison's request for the price increase in a couple months (November). I doubt that they will deny it. Historically (the past 5 years), Edison rates have gone up 6% to 8% each year.

To say the least, at this point, I am pretty happy with my decision!!!

Not to practical for me my average Elect bill is about $70 per month every month

I think you will benefit from it

Well done Ray

D

Also thanks for the info

PM sent

Does the house look ok with the panels on it ?

And do they have to be mounted on the house ?

The way our house sits (facing north), all the panels are on the back side of the house. For where I live, the panels needed to face south and west so it worked out well. From the front of the house and the street you do not see panels at all. It helps too that I'm on a couple acres so the house sits back quite a ways fromt he street. Most of our property is at the front of the house.

The panels don't sit right on the roof. They fit into tracks that are mounted on risers that go into the roof joists. The risers are about 6" high. So there is an air space of about 5". It actually keeps the house cooler too since the panels are absorbing the heat and about 25% of the roof is being shaded by the panels. They have an optional ground mounting system too if your house isn't situated right or you don't have sufficient roof area that would be exposed to the sun. I did have to trim/top a tree that was about 60' tall. Now it's only 40' tall. No big deal. It was in the back of the house anyway.

We're looking at some property in Colorado ( South Fork). we are thinking of building a House ( Log) for a spot to go in summer and winter.

Maybe this is an option...

I'll tell you what....it sure the heck is working for me so far. We set our AC at 75 during the day, 7 days a week cause we have animals inside (and my cigars of course).

The electrician that installed all the panels and computerized stuff told us that after everything gets signed off, start replacing all of our light bulbs with the flourecents that are incased in plastic. They look just like a regular old light bulb, shape wise, but a 100W in the flourecent version is only like 13w or 16w. (don't remember exactly). He said it would make a big difference in our consumption and the bulbs last longer. We are buying 6 or 8 bulbs a month and just slowly changing them out.

Coop, you should also do a DIY solar water heating system:

=d>