When I need to know the daily news, I have my favorite news channel. When I need to know the weather for the week, I have my favorite weather channel. But when I need the best up-to-date solar info, I come to Solar Surge Channel. Thanks again, guys, for all your content.
The trick is always How Much. In general I have found that lease agreements are not a good idea for the homeowner. Here in Philadelphia...Pennsylvania...the ways to generate income from your solar system are limited. The utility only pays you 50% of what they charge you so that to get full benefit for your energy generated, you really need to have a battery for storing the energy you generate for your use at night. This of course raises the cost of installation. Also, because the state mandate in Pennsylvania for renewables is so low, the SRECs...the credits you get for each 1000 kWh you generate...are only worth around $50 each. In New Jersey they can be worth $300 each. A nicely sized system on a modest home with generate 5 to 6 SRECs per year. In PA, that's $250 to $300 per year. In New Jersey it's almost $2,000. So ultimately, it's about how much it costs to get the system installed in the first place. The solar companies in this area simply charge so much that the likely hood of ever recovering your investment from the energy you generate is very small to non-existent. The result is that almost all the solar installations in Philadelphia are in rich neighborhoods. Great for making them feel good but doesn''t do much good otherwise.
Oof that is horrible:( I’m over here in south Texas and it’s a completely different ball game. It’s so beneficial for home owners to get solar here, we can go above 100% offset and majority of the time the monthly finance is lower than their monthly. It’s a no brainer
I am going through this phase right now. You want enough solar output to make your average electric bill equal or close to zero. This way your only payment is the monthly charge for the solar panels and installation. I'm 77 and I will never pay it off before I die so I'm going to lease. It doesn't make sense to buy it outright.
Loan is crap it only benefits business owners esp now with these high interest rates. Lease is great O out of pocket cost and fixed lower predictable bill and 25 years of headache free maintenance! And and all benefits is easily “transferable to buyers as well Own comes with just 10 years workmanship After that you’re responsible for maintenance and good luck selling your home if you still owe on loan. Buyers don’t wanna take over solar loans because it will affect their debt to income ratio which will disqualify them From qualifying for mortgage Go lease! 💪🏽
My understanding is when you lease you don't even get the tax credits You're basically working with the leasing company who installed everything for you so it's not the best deal out there when you give people options you disclose every bit of what you're getting and not getting.
You are turning your property into a power plant for the solar company. They get your land/roof to use, the power you generate, and get the lucrative tax credit. Although I strongly believe it is a lesser option vs. purchasing, it is an option for some and locking in low & predictable energy rate certainly has its benefits. Worth researching options and finding what people want... but also thinking long term so they're not surprised
When I need to know the daily news, I have my favorite news channel. When I need to know the weather for the week, I have my favorite weather channel. But when I need the best up-to-date solar info, I come to Solar Surge Channel. Thanks again, guys, for all your content.
Thank You for All that you are doing for our Planet Earth.... Peace.. Shalom.. Salam.. Namaste 🙏🏻 😊 🌈 ✌ ☮ ❤
Buying solar is very complex and this channel breaks it down very nicely
The trick is always How Much.
In general I have found that lease agreements are not a good idea for the homeowner.
Here in Philadelphia...Pennsylvania...the ways to generate income from your solar system are limited. The utility only pays you 50% of what they charge you so that to get full benefit for your energy generated, you really need to have a battery for storing the energy you generate for your use at night. This of course raises the cost of installation.
Also, because the state mandate in Pennsylvania for renewables is so low, the SRECs...the credits you get for each 1000 kWh you generate...are only worth around $50 each. In New Jersey they can be worth $300 each. A nicely sized system on a modest home with generate 5 to 6 SRECs per year. In PA, that's $250 to $300 per year. In New Jersey it's almost $2,000.
So ultimately, it's about how much it costs to get the system installed in the first place. The solar companies in this area simply charge so much that the likely hood of ever recovering your investment from the energy you generate is very small to non-existent. The result is that almost all the solar installations in Philadelphia are in rich neighborhoods.
Great for making them feel good but doesn''t do much good otherwise.
Oof that is horrible:( I’m over here in south Texas and it’s a completely different ball game. It’s so beneficial for home owners to get solar here, we can go above 100% offset and majority of the time the monthly finance is lower than their monthly. It’s a no brainer
I am going through this phase right now. You want enough solar output to make your average electric bill equal or close to zero. This way your only payment is the monthly charge for the solar panels and installation. I'm 77 and I will never pay it off before I die so I'm going to lease. It doesn't make sense to buy it outright.
Loan is crap it only benefits business owners esp now with these high interest rates.
Lease is great O out of pocket cost and fixed lower predictable bill and 25 years of headache free maintenance! And and all benefits is easily “transferable to buyers as well
Own comes with just 10 years workmanship
After that you’re responsible for maintenance and good luck selling your home if you still owe on loan. Buyers don’t wanna take over solar loans because it will affect their debt to income ratio which will disqualify them
From qualifying for mortgage
Go lease! 💪🏽
My understanding is when you lease you don't even get the tax credits You're basically working with the leasing company who installed everything for you so it's not the best deal out there when you give people options you disclose every bit of what you're getting and not getting.
You are turning your property into a power plant for the solar company. They get your land/roof to use, the power you generate, and get the lucrative tax credit. Although I strongly believe it is a lesser option vs. purchasing, it is an option for some and locking in low & predictable energy rate certainly has its benefits. Worth researching options and finding what people want... but also thinking long term so they're not surprised
What a tacky t-shirt 😂