Are solar panels a SCAM?! (The dirty secret!)
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- เผยแพร่เมื่อ 8 พ.ย. 2022
- I have been asked on whether you should put solar panels on your house. Here is my opinion.
The housing market is turning down. This could be the start of the housing market crash!
If you are looking to buy or sell Real Estate on the Gulf coast of Florida or Alabama email me- I am a Real Estate Agent!-jack.motley@adoorrealestate.com
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Please consult your own professional or lawyer. I am not a financial advisor. These are my own opinions. - บันเทิง
Thanks for watching! Check this video out- "This is happening! The housing market is turning! "- th-cam.com/video/JAE0UvZESOY/w-d-xo.html
I’m out in Navarre and we just pay our monthly loan amount and our solar panels cover all of our needs our price doesn’t fluctuate at all. Couldn’t be happier when I hear people paying 200 plus.
Your monthly loan and service contract cost more than the electric bill. Plus increased home owners insurance and the fact that you probably wont get a payback before the panels have to be replaced and many more issues you get with those. Too bad your happy with that.
I'm that real estate agent with the vein popping on my head when people ask about solar panels increasing property value (people have actually pointed it out and asked if I was ok.) Solar company reps hate me for telling people more often than not solar hurts resale value rather than adding to it. Spot on, best advice ever, don't put them on the house. If they are dead-set on it, I usually advise building a backyard pergola or detached porch and use the panels as the roof to add a feature to the property that might actually increase resale value. For insurance, see about an umbrella policy rider, its usually a very inexpensive option for a whole lot of coverage for more than just the panels and most lenders are fine with it and I think that's actually required over a certain size of kW production in most areas. You didn't mention NET METERING, that can make the panels worth it if you produce more than you use, but they (FPL) are trying to take that away or greatly diminish it, so then you need to get a $10k-$20k battery backup (that will need to be replaced every 10 yrs or so) to avoid pulling from the grid at night and on cloudy days.
Thanks so much for the confirmation. I was set to go for solar installation but took some unhurried time to carefully read through all the tiny print of my policy. That policy turned out to be a deadly contract straight out of hell and I quickly acted on that provision to cancel before the installation would commence. Thank you for confirming that I did the right thing. If I can’t pay my electric bill the electric company might turn off my power. If I miss the solar payment, that company could have forced the sale of my property!!
As long as it doesn't increase the cost, I'll replace them my self. Also they have it wrong you can mount them without screws if you have standing seam metal roof. Also I stalling a roof outside lots of tiny holes in your roof..I plan on having the brackets installed with the. Ew metal roof so there aren't extra holes. If the drop me I'll get some shitty insurance. They screwed us and never finished paying off what they said they would when there was incident anyways. I had to finish some of the work my self because the insurance stiffed the electrician. It's legally required and they try to deny all claims screw insurance.
The solar scum always give the same answer when I asked it “what happens when I want to sell the house before the solar contract is up?” Their answer is always “solar increases the value of your house. It’s a selling point. Buyers will need to take over the contract”. Aka. You’re screwed if the buyer doesn’t want it.
@@alejandro3485 I'm solar scum but the house ain't never selling and if it I'll take the loss but, ain't no way I'm taking out a contract. I'll do it my self with pre certified and pre approved parts
Wow!! Awesome information!! Thank you!!!
Putting Solar Panels on your roof is like buying a time share...DON"T DO IT ! Especially if you are leasing them...... The only way I would have them is to put them on a tracking mount in the yard or build a ground support system. I would own the entire system and maintain everything about the system. These solar companies that lease these panels are taking people for a ride (and not the good kind).
I've got the solar sharks chasing me now. Must be some heavy tax incentives out there for THEM. They can't make loans or lease arrangements right now due to rates. Now they want to be my generation company. Told them they can put the panels up only if ZERO cost to me. No lease, loans or kwh charges. They haven't been back.
Your homeowner's insurance could drop you. These solar panels are a fire hazard and higher risk for leaking roof. The higher the voltage, the more likely your roof can catch on fire. Seriously. These solar panels only last about 20 years and they need to be replaced. That means you have not paid off the original investment yet and have to buy a new system. And you can also have a very hard time selling your home if they have not been paid off. If your roof needs replacing, those panels MUST go down. Kaccchiing.
I had 28 panels put on. I had a new metal roof put on, and had a large solar company work with my roofing company. I told the solar company if the roofer doesnt sign off on your installation they dont go on, due to my roof warranty. Solar company did everything the roofer said. But it all worked out for me, it was cheaper for solar panels than FP&L in SFL.
Awesome! Great to hear!
You forgot to mention that they fine you for the electric bill being too low plus they wont buy your power. Your loan cost and service contract will end up costing you more than the electric bill every month. Your roof can leak, rot out or get ripped off in a storm. Your homeowners insurance goes way up. Dont be so focused on the electric bill, look at the whole picture. You also detracted from your houses value, not added to it. Its a losing proposition.
@@RadioRich100 They don't "fine you" you paying the minimun fee for the interconnection, remember, you are still connected to their meter for your consumption needs and you do receive credits on your bill for overproducing on daytime which you will then use at nights, Intallations in Metal roofs do not require drilling holes as they are attached to the rails, no holes = no leaks, Solar Panels has been proven to withstand winds up to 110 mph or a CAT 4 hurricane, in most cases Solar panels are the last thing to stand on a house, you are a Google search away to find out, do your research, Homeowners insurance will go up regardless, if your homeowners insurance wants you to pay more because you are trying to be Energy independent, stop paying for a unreliable electric service on a 100 year old grid and showing the middle finger to America's last monopoly then I say it is time to find you another home owners insurance, According to statistics the average person lives in a home for 5 to 8 years before they decide to sell and move, hypothetically speaking buyers 8 years from now will be more energy conciuos and educated, All things being equal which house do you think is going to sell the fastest? the one that has a $500 electric bill in the summer time and raises 8% each year or the one that pays $350 on a fixed predictable rate?
You are just hating one someone who has actually made a smart decision while you, still pays $500 for electricity, Wake up
@@JuanPetter No I laugh at how dumb people can be installing them. They stare at the electric bill and dont look at the money that goes out the window every month to the solar company which the system wont payback, plus higher home owners insurance or get dropped altogether. Damage done to the home, leaks,mold, holes in the roof, rotted roofs, solar panels that wear out before a payback - if you even get one. Added costs of service contracts , worn out batteries, disposal and replacement fees, bad inverters. Solar panels LOWER the value of your house NOT increase it. Try to get somebody to buy the house with a $30,000 note left on it.Your financially handcuffed to the house until the system is paid off and by then youve lost alot of money. Feds reducing incentives. Power companys no longer buying excess power and even fining you for low electric bills. - Wake up is right. Never had a large electric bill because of responsible energy usage. The guy your defending hasnt seen the ball since kickoff. He probably waits by the mailbox every month waiting for the electric bill with his dick in his hand so he can brag about it, not even realizing that hes spending far more to save alot less and causing alot of issues with the house at the same time including its value. Did the geeky kid with all the pens, thick glasses and a calculator that came to your house tell you about any of this??
As a Deputy Building Official/Chief Plans Examiner and Inspector here in Central Florida, I agree with everything you said in this video. Solar Panels have definitely become a "thing" here. I review all of the Solar permit applications and plans for our jurisdiction and I have to admit, I currently review more new Solar applications than any other residential permits.
@douglashammon1 What are some common pitfalls you see with solar permits that you reject?
@jackpliskin2007 really new Contractors that have no clue what they are doing lol.
My inspector likes us and our work. He says almost none of the other contractors can even pass an inspection first time lol.
Solar company put a lien on friends home until paid in full, he can’t sell, he can’t refi and was just installed last year. What should he do ?
Thanks for the info, you gave me a lot of things to consider besides the price.
Thank you for showing the side sellers forget to mention.
I was just given 3 quotes for solar panels with battery backup. $90k-$130k. I would not break even until after the warranty has expired.
thats panels with batteries you was lookin at the off grid package gonna pay the premium
Thank you sir, for sharing your experience
Good points, if you have room and you really want them it makes sense to do a stand alone setup.
Great information . . Thanks so much
My son is 33 years old now, when he was in jr. high he did a science fair project on solar panels. He researched all the information and found out that at that time it took 11 years at the present cost per KW hr to repay the cost of the panels. That was if the price of the power from the company didn't change.
some very good points here! glad I hung thru the video. Groundmounts, however have other complexities: avoiding septic lines etc. and higher mounting cost overall.
Good stuff Jack
People are going Solar crazy in the Palm Beach area. Don’t know what they’re going to do. So many houses have solar now, it’s insane. I don’t think it’s worth it unless you do it yourself. Totally agree! I have knowledge in several business areas/aspects that have to do with this, so I completely understand. Thank you for explaining, adds to my knowledge. 👍☺️
Truth is truth preach Jack
You have solar in my case which produces Zero. Then the regular electric bill.
Panel cost about 100.00 a month. Spend 100 to save 13 to 15$.
Don't do it.
I really appreciate your straightforward talk. I’m glad I never got solar panels. I believe the only people that profit from solar panels is the manufacturers and installers of the solar panels.
I don’t need a loan payment.
I'm a claim adjuster and think solar panels are bad for potential roof leaks making them a liability! So if you have them, it will be a matter of time before there is a specific endorsement for them with limited coverage! They currently account for removing and resetting them for roof replacement! I would never get panels on my roof because of the leaks I see all the time!
That is the best perspective I have ever heard on solar. Very logical, and asking all the right questions. Just using plain common sense.
Awesome!
Glad you enjoyed it!
Thank you. You are amazing.
great video. gives me lots to think about.
one of the things you mentioned to consider is the return. where i live, the utility co. historically has had a miserable return for adding back to the grid and i just found out last year that they got the state to approve a change so that the return is even worse than it was initially! so basically now, if your solar is tapped into the grid to add electricity back to the grid to build credits towards future usage, those credits are now so low that it totally benefits the utility with almost nothing back to the solar owner. :(
same in my state.
I 100% agree with you. I would not buy a home with solar panels on the roof. You're right, how did those insurance companies slip that 15 year old roof change in there. I lived through Katrina and a few other hurricanes here on the Gulf Coast. Everyone who had their roof replaced after Katrina is now having to replaced their roof or lose their home insurance around here.
This video is just from a realtor Giving their realtor opinion. Did not take one minute to promote the good just focused on the bad . Yet this is the same realtor that is saying a housing crash is going to happen soon but will still sell someone a home lol😂
You have to keep them clean too. Particularly in a dusty environment, that can be a lot of work, or a regular cost as solar panels seem to be dust magnets.
Thank you for this information. This made getting solar panels sound like such a pessimistic endeavor sigh
Great video!
Glad you enjoyed it
I have 13 on my roof, my meter would run backwards in the summer days... And then the power company installed a digital meter. Now it's like the panels are not even there anymore.
A lot to think about before taking the plunge
I’ve tried explaining this to others, you did a far better job than I could have! 🙂
In my area, central FL, duke energy must be doing a good sales job, they are quite popular.
I just got a notice they are more than doubling my electric bill, maybe that happened to others & motivating it? I suspect many may be doing it for backup power vs propane powered house generator… which isn’t a horrible idea, but as you said, don’t put them on your roof…. But the local HOA won’t allow anything else.
Please keep speaking your mind, so far I haven’t disagreed with you, but even if I did, I enjoy your educated perspective 🙂.
Thanks!
Great video! I’m glad you brought up maintenance and environment. I didn’t think about insurance. What about battery replacement cost and disposal of the batteries on a environmental standpoint?
Batteries have a life span too. Disposal is an issue too.
We had looked at solar. Agree with every negative you mentioned. Decided that if we went that route, we would only go pay-up-front on non-house-roof (ie shed, stand-alone, etc). Given the fairly low ROI, they are a difficult sell to me. The only reason for us to justify them is for backup power when the main goes out - still thinking about it, but will probably go with a different approach.
Solar needs batteries or specialized equipment to provide power during outages. I sell solar and this is one of the biggest misconceptions I see.
Solar has been awesome here in Vegas, definitely get more than you need. Haven’t had any issues since installing two years ago. Don’t see myself moving anytime soon. Loved the tax credit. I literally have nothing bad to say. We’ll see.
Vegas makes sense besides the dust you guys are like 99% sun we’re in South Florida. We actually are 50% cloudy and 50% sunny people actually don’t realize that but my buddy lives out in Vegas and he actually leased his panels so he pays a set amount for his energy from the solar company.
You have plenty of sun. You need to watch the water. Dont be mad when water prices start skyrocketing.
You didnt do the math did you. Stop staring at the electric bill only.
LMAO Jack, sometimes I wonder how much Baileys you have in your coffee as hyped as you get. I kid. Love the vids and keep them coming. :)
Solar is worth it with NO tax credits. Tax credits are just bennies.
The problem is unscrupulous companies taking advantage of uninformed consumers.
Get any verbal guarantees in writing. If they won't, then it isn't a guarantee.
As always, invest some time and energy to investigate any major purchase.
Hire someone you know with experience as a general contractor for this task.
Solar usually pays itself off in 5-7 years.
If your terms are much longer than 7 -10 years, find another vendor.
You havent seen the ball since kick off.
Thanks. As someone that is interested in putting solar up in south central Florida, it made me think about the potential issues. Interestingly I had a solar salesman knock on my door the other day. I decided to let him in to see what his pitch was. He said that solar adds about 4% to the value of my house. That my $165 FPL bill could go towards ownership of my electricity needs. There was a lot of information that he presented and some of it was good but there were things that he glossed over too. The final bill came out to $43k and after the 30% tax credit was about $30k for 9,600 KW production. That’s quite a bit. The thing that ended up irking me in the end was that he asked if I wanted to see if I qualify for the loan, which I did but he wanted me to sign not to see if I qualify but also to authorize the installation. I got mad at him and told him that you did not explicitly ask if I wanted to move forward. Pretty shady. Then I went online to see what Tesla was offering for something similar and it was half as much! I probably won’t get it for the house we’re currently in because we probably won’t be here for more than a few years. That being said, I think it can work but you have to carefully navigate a rather murky maze of some rather unscrupulous companies in order to find something that makes sense. I would imagine that it would help a company like Tesla out since if they can’t do it well then who the hell can?
The solar story only talks about the good but never the bad and the ugly.
Solar does not add to the value of your house, it does the opposite.
Cash is the only way that I would do it, but I wouldn't do it. Electrical service is not so expensive that I want to mount ugly panels and wires and holes all over my house. At some point in the future, the panels will need replacing.
Great video I couldn't agree more. I am from Northern California home of the super Solar evangelists but have lived in Dallas area the past 3-4 years. In parts of California where kwh price is fairly high and roofs do actually last like 30 years because the more moderate weather. I would totally go for it. In North Texas like Florida the roofs have to be done like every 10 years. I get decent sized hail like 1-3 times a years, its nerve-wracking because know when its happing like please don't destroy my roof. For those that have land or that large shed that is unblocked etc, I agree it could be worth it. But drilling holes into my roof, even in California I remember a Satellite install guy wanted to do at my parents house and my dad was like you gotta find another way to mount it that was a little over a decade ago.
Awesome video...Looks like that Generac is looking better and better LOL
Thank you.
Solar pannels act like a huge giant kite that is screwed on top of your roof! They will completely rip the roof off of your house in the event that a hurricane or tropical storm happens.
Thats so false. The panels are fastened to the trusses on your roof, not the shingles. Check out a video of how theyre installed
On the coast of SC and have panels, hot water panels, net metering and battery back up. The FIRST time we lost power after a hurricane; it was worth every penny. Kept well, septic, frig's and freezers running for 10 days of no power. AND we sell more power than we use. Appreciate your view point on this real estate wise and NO way would I have considered leasing a system.
Curious about what exactly you used. I would NEVER leasefrom a solar company. Thanks!
A door to door Corvette salesman would be more honest than the scammer solar panel people.
Jack on this one you and I agree 100%! Like you, my clients ask me the same question often, some have been told to expect as much as a 600% return on their investment, and I basically always recommend against getting solar panels, for the exact same points you mention. Plus, and you touched on it, they’re UGLY! 😊
Literally none of my home buyers have wanted to buy a house with the panels in the roof.
On a similar but funny note there’s an EV SUV commercial showing this SUV driving off into the wilderness.
So let me think, I’m going to buy an EV that goes say 250 miles on a charge, then drive it into the wilderness, in the middle of nowhere, on a week long camping trip, and no charger around for 100 miles?
Really?
Have a great week Sir.
This is a fantastic video.
Thank you very much!
Sounds very opinionated to me. I know people for all parts of the the USA who have went solar, and yes, the situations are different from the East Coast to the Midwest to the West Coast; however, this video is full of a lot of if's and but's and we all know the what comes with if's and buts (if they were candy and nuts, we all would have a merry Christmas). Most people report positive outcomes with their solar ventures. Of course noting in life if 100% and there is going to problems with every creation. What works for others may not work for you. I know a lot of people who have saved enormously by taking this route. Do more research and don't let one person make a decision for you.
I believe where I live (blue state) the tax benefits changed for the benefit of the state and did not grandfather in the panels that were previously installed. I know some people roll the cost of a new roof into the cost of their solar system to get the tax credit to help offset the cost of the roof. I know the people around are excited about not paying the power company money and how much they are saying on their bill but it’s kind of like paying a premium for an EV or hybrid car and smiling every time you pass a gas station you maybe fooling yourself you’re saving money (depending on where you live now).
Our house is fully paid for and we went with a ground mount system. Yes it is supplying all the electric we use that includes a geothermal system, pool and electric car. The entire home is electric no combustion. We live in upstate NY. Payback is about 6.5 years at our electric rate. It was worth every penny with about a 15% yearly return that is non-taxable and safe. In fact there is a 15 year exemption from property taxes on the value added by the solar system which in our case is $52,000. We paid for the system no loans. Never ever lease a solar system!
2 speed pool pump
I heard the most important/expensive part are the batteries
I was planning on getting a brand new metal roof with brackets so no extra holes. Also standing seem metal roofs only need clams to install solar. I'll have extra panels for of any get damaged. Especially for how cheap they are getting (ST: MO). Also people paying to have it installed are paying gargantuanly more than the new DIY kits 10k to 25k vs 50k to 70k
As a Solar Energy Engineer I can say you are ignorant about a lot of things, but then again I respect the fact that you are trying your best to understand the technology and provide some value to your community, even if it is the wrong value, I respect your profession as a Real Estate agent and I realized how much work do I have to do not only with homeowner but with uneducated real estate agents aswell, It seems like nowadays everyone is an expert on a field they have no clue of
I agree with the realtor, those systems are expensive, dont prove themselves and harm the house physically and to its value. Your far better off conserving rather than generating.
Thank you!!! I really appreciate your willingness to share real world experience in the industry. I would love to divorce the power company and have my own method of generating power however I do not believe the technology is there yet even considering the Tesla Powerwall. I do hope we develop more efficient panels and storage options here in the US but building panels and batteries is a dirty business. Happy early Veterans Day Bro!
Dont get a zero down loan lol you will pay anywhere from 20-40% dealer fee.
Pay cash and don't pay over $2.60 a watt also look at the Contractors previous work. I sell systems with a 6-8 year ROI with a 25 year labor warranty. Been installing since 2008.
Better yet dont get solar all problems averted.
Maybe you said it and I missed it but when you put solar free standing or on a shed it will only qualify on your insurance under "other structures" so if that part of your policy is a 10k limit and your fence , shed, and free standing array were damaged you get 10k that's it.
Thanks
You mentioned maintenance of the panels. What maintenance do they need?
Coffee ✔️ your opinion ✔️ I'm all ears👂
lol thanks!
I sell solar in California, I do a lot of cash deals but if I have a client who wants to finance I always tell them to reach out to a local credit union if they want to finance the system. You still get the tax credit and the credit unions offer the best rates and terms for solar. Get a cash proposal and take it to a local credit union if you don’t want to come out of pocket.
I won't be telling my insurance provider I'm putting panels on my house.
What happens when you make a claim, or get another company? Dont put them on your house. If they spot them they will drop you like a hot potato. They use Google earth to see if you have them.
If they can't afford the solar payment that means that they wouldn't be able to afford their electricity. The whole point of going solar is to get rid of the electricity bill. SOLAR HAS NO MOVING PARTS AND THEY ARE LOW MAINTENANCE.
False, On a roof you have dirt, debris, buildups, rodents, cleaning costs etc depending on your area.
Ty
Look at solar panel companies themselves. How long have they been in business? Will they stay in business? To keep doing your maintenance? What kind of a BBB record do they have?
Most of the world lives in rainy areas. Solar is great in the desert but who wants to live there?
The solar panels are getting lighter and more powerful, i have 400W panels. The building department inspectors in Jupiter are very knowledgeable.
Spot on with the comment about what else you could do with the 70k. If the goal is saving money there are a million ways to to outperform a solar panel return. If you have excess capital and want to buy warm fuzzies, donate to a charity or something and don't complicate your house. We have a new house in a new high demand area and they door to door push the solar panels so hard. My sales bs meter goes crazy with these people. It's working, the panels are all over here, mn btw. They are clearly making a fortune up front and I only break even after 6 years at best? It's such a messy complicated risky way to maybe save money years down the road. I have a perfect house for it and it's an extremely hard pass for me.
I can understand the frustration. But I genuinely believe Solar only makes things hard when you are uneducated on how the system and industry works. Instead of seeing Solar consultants as an enemy, learn from them, use the information that they use to sell the panels, to sell the house. The solar industry is new, yes, there are a lot of companies out there that are just trying to squeeze money out of a growing industry. Learn and spread correct information.
Very entertaining vid. I paid cash for a 7.2 kW ground mount in 2009. It was a no-brainer then and still is. After the state rebate and fed tax credit it cost $26K. Every month I calculate what the electric bill would have been without the solar. It paid for itself after 8-1/2 years and is now saving more than $500 per month, what with the crazy rate increases from San Diego Gas & Electric. There has been no maintenance to speak of and I'm still getting full output from the old-tech panels. OK, the inverter had to be replaced 6 months after the warranty expired but no big deal. Even allowing for that I'm still $21K ahead and counting after 12+ years. My only regret is not getting a bigger system in the first place. I sized it so that the only power I would buy from the utility was the baseline allowance. Back then, baseline was 13 cents per kWhr. Now it's 45 cents and rising. If you're going to put a system on your roof, the best way is to do it at the same time you reroof. Go with an established contractor who also does solar or who works with the solar people because he will be the one warranting your new roof against leaks so he will ensure that the solar is done right.
A strong storm will cause those solar panels to shake the support which can cause a leaking roof. And if you do not notify your homeowner's insurance they can drop you due to the fire hazard of solar panels. The more powerful the voltage, the higher risk of fire. These panels will wear off as they age and may need to be replaced after 20 years so by the time you pay it off you will have to get a new system installed. There is no savings.
@@TomokoAbe_ No, they are in SDG&E the pay off was more like 5 years with these rates now. Solar last over 20 years. Funny that you are talking about voltage, you house uses 240v ac. Solar is running at 120v to 240v if you are using micros and 60v if it is a string.
@@TomokoAbe_ Tell him
I wonder if they way to go is buy used panels, installed off the roof, and pay an electrician to connect a transfer switch to the main fuse box? During the day use the sun and night switch back over to the grid if you don't have enough battery backup or sunny days.
Interesting which state has more sunny days for Solar energy.
50g for solar? Wtf. If you pay over 20g for a 10KW you are over paying. I did DIY 10KW for 10g after state and federal credits in SoCal. Solar systems don’t need servicing either. Put it in and forget about it. I have not paid electricity in 8 years.
The best mf video I’ve seen in a long long time and I just want to say good job and thank you kindly, everyone commented on the subject, which is fine, but this was especially well done!
Have a system with all marine parts 3kw ,enough for basic things. In no way connected to the house system. We've been using wind in boats since the early 70s with old school generators. Living in the Caribbean had to mount the panels adjustable angles, summer ,winter, and hurracaines. Old shool Coast Guard, always ready.
Every time I see a house with solar panels , I think sucker😂😂😂😂 The technology is not there yet for the working class.
Where the heck do you guys live? Solar systems are some of the basic simple technologies out there. Here in SoCal where I live you see tons of homes, businesses, parking lots, parks, schools, warehouses, rvs… full of solar systems. 8 years and counting I have not paid for electricity. Matter of fact, my bills are average credit of 200 every year. You can debate if it’s fair or not but to say the technology is something that’s complicated is coming from not knowing how solar works.
I save $5k a year lol
Lol what? There are houses in rural areas completely of grid sucka
Bull
Classic case of speaking out of ignorance lol
My friend convinced me after showing me several $20 electric bills. I didn't account for it only being him and his wife living in the house. My bill has only decreased 50%.
I signed up for solar from Modern Pro Solutions and got a 25 year solar loan. They never finished the install just the panels (which they contracted out to another solar supplier), and then they vanished. I didn’t get the MPU, final connection’s inspection, paperwork done, etc and now my roof is leaking. It’s been almost a year and still paying the loan and getting NO electricity. To add insult to injury they solar supplier placed a Lien on my property because they didn’t get paid by the Solar Company!!!
Eek!
Ouch!
How can a $70k loan will save you money on an electric bill. ????
Simple just look at the electric bill and ignore the costs of lowering it and all the problems it causes. That way everybody with solar saves money!
You could buy a solar panel system online at a frachin off the Cos t.
our loan was at 1.2% we paid it off ahead
I live in the midwest and think solar panels are not a good idea here due to the cold weather potentially wearing them down after many years. Somewhere like SoCal makes more sense than where I'm at
Hey jack when they call me. The sun gives me plenty of energy why do I need solar panels. Can you talk about pipe galvanized copper and cpvc, The different types of wire based on the year the house was built. Allum wire
You win by not being a sucker for some salesman.
He gets to the point at 1:42
Well I'm about 7 minutes in never getting solar panels. I thought about if I had a little more land I'd put him in the yard but Just doesn't seem worth it to spend all that money. Nope
Always amazes me how some people will spend a dollar to save a dime. Invest $40,000 and use the $375 per month interest to pay your electric. Done. Also, you brought up a good point if installed on the roof, any savings might be negated by increased insurance and maintenance.
Dear friend, contrary to what you saying, I spent $44k and replaced a $395 electric bill to a local municipality (SMUD, which is cheaper than other investor owned utilities) with $195 solar payment. I still pay $23 line maintenance bill to SMUD. That makes my monthly electric cost (now it's mine and I'm producing) $218 vs. $395 I was paying to SMUD. I'm saving $2124 a year vs. before solar. Which one is better? Mind you, in the last 6 years that I've has solar on my privet residence, the 33% SMUD bill increase did not affect me. Increases will never affect me. With no SMUD increases, meaning if the utility company never had have or will increase rates, I would have cost me $47,400 in 10 years. My system cost me $44,000. What is a better deal. I own 9 other residential properties. I installed solar on all, except one. Happier tenants.
Now, I have solar on 9 out of 10 properties. My insurance rate did not increase on any of them. I called and reported new system on each individual home. They just asked for equipment's, number of panels and cost. That's it. Not a single dollar increase. There are no moving parts, so zero maintenance. Well, except for one property that is next to a farm. They have issues with dust. All, they do is when they water the plants upfront, they aim the hose towards the panels and just rains them.
So, please if you're going to make a comment, make it an educated one. Trust me, you are not smarter that your neighbors with solar. Unless, you live in a city, location or state that solar is not a good option. Solar does not benefit everybody. Sure. but to come and knock it all out, not a good and wise thing to do.
So if you took that $44,000 and invested it in the S&P you would make $330 per month at 9% interest. So you are "saving" $180/ month? So by investing the 44K, your electric bill would only be $65.00. Saving you $330/ month and you still have your $44,000.
@@AZTombstone792 Well, dear friend. You want to act intelligent. Ok!! Take your own hard earned $44k invest it in hope of earnings. Or, you can take the bank's money, NOT yours, theirs, and earn dividend on someone else's money. Do you know what that is called? Look it up, you may learn a thing or two about investing. Hey, here's an idea. Invest your money in S&P and maybe you earn that $330 a month. That would be a good thing! right? Still use the banks money to install that solar system and save that $180 a month plus stabilize the monthly energy cost. Or, sure, if you actually can earn that $330 from S&P, earn it and pay the full $395 to the electric company. I just love it. folks like you think that you have it figured and and go bash everything in your way. But, really, Do you!? God bless you. If you are going to reply, please think about what you want to say before you say it. If not, which is a better idea, enjoy your $330 earning from your $44k invested.
@@AZTombstone792your calculations assumes you paid cash up front for decades of power & the rates for power never increase.
But if you look at the national average it's only gone up & is skyrocketing. Oh and you can write off 30% of the 44k in taxes immediately, which can cover your capital gains tax in other investments.
Was thinking about solar, but
Solar to me looks to be a big headache, not to mention costly at best. I will never invest in big solar panels to power up my mans home. Even my better half himself does not support full off grid solar or wind, not going to happen. He will stick with natural gas, and nuclear power. Neither one of us can afford any range of solar power. If any solar will only be enough for my cell charger, and that's it!
The solar stuff was interesting and I think right. As far as not attaching a pitch to your house… that’s pretty idiotic.
Most people don't want your solar panels
Very recently my friend made a full price offer on a house. The seller countered requesting that my friend kick in an additional $59K to pay off their second mortgage for solar system that was installed only three months prior. So the seller wanted to pocket the incentives (30% federal tax credit and local incentives) and had the gall to be indignant when he wouldn't pay for their mistake - awful, delusional people. In addition, the solar system installed was not sized properly.
3:21 $50-$70K?!?! How much of that is material vs. labor?? Are install companies making a killing? I thought panels were down to $1/watt!?!?
Great video, and I've shared this. I didn't have to do it twice, no mic needed Jack. Hahah
Everything you opined about I agree! I will just watch my electric use and deal with FPL.
What about electric cars too.
A $60K SET UP Actually material cost around $15k and around 6 k installation. and that's it. Solar CO makes so much money on their profit.
Tiny holes if made right is the same thing as putting thousands of holes when they nail roofs. its the same thing. So don't worry too much that part.
I had mine solar for 18 years and had no problems at all. GOODLUCK. SOLAR IS THE WAY TO GO BUT YOU HAVE TO THE LEG WORK.
Why would anyone spend or borrow 30-40 thousand $$$ to save maybe 100-200 $ a month???
$40k (financed) / $200 (mo saved "maybe") = 200 months to pay for or 16.6 years
When the breakeven point is finally reached. The system will be an antique. The homes ownership will locked with a lien until all debts are satisfied.
You're forgetting one thing sir- you're already paying for electricity! Your calculation would make sense if you had to pay the panels off first, then you got a reduction in your bill. If you save 100/month or 1200/year,you'ree getting an instant return. The 2nd thing is that your electric rate continues to go up, solar payment stays the same.
@@TMCoachJonathan I fail to see the instant return with financed hardware and installation. Until the financing is satisfied. It's just $$$ spent differently. The pay off is many many years later.