Everything “bad” about solar in Florida has to do with the fact that the utility companies are a monopoly in that state. They effectively have a stranglehold on energy in Florida. If you could disconnect from the grid then solar makes a ton of sense (even in the short term). Over the long run, 7+ years, again solar makes a ton of sense. Also, as an engineer (with over a decade of experience building solar farms & commercial installations domestically and internationally) I would say that looking strictly at price per watt (PPW) is a foolish way to evaluate solar’s value. It’s what people do when they don’t know enough about something to make an educated decision, so they boil it down to cost (PPW). The fatal assumption there is that all solar is equal which is not the case at all. The warranties matter tremendously on something that’s going to be on your roof for twenty plus years & the reputation of the installer matters just as much as the warranties. Personally I am a fan of Tesla (for their cars and battery innovation) but their residential solar offering is subpar in many ways. The most glaring one being the lack of customer support. The equipment is fine but you better pray that nothing ever goes wrong or you’ll be waiting weeks (if not months) for them to fix it. That’s why they can sell it at the cheapest price in the market because there’s no margin included for long term customer support. Also, this notion that people don’t want to buy a house with solar is complete nonsense. Zillow actually did a study that showed solar homes sell faster and for more money than non-solar homes. Because people want to walk into a house with little to no electric bill. All that being said, don’t go solar if money is all you care about. Go solar if you want to save money over the long run (5+ years), do your part environmentally for your kids, have certainty about what you’re electric payment will look like, and have an end date on the vast majority of your electric bill (minus connection charge). Most importantly, do your research and pick a reputable solar company. P.S. Avoid the forced sales tactic companies as they usually don’t stick around for the long run. In my personal experience the companies to avoid in Florida are Vision Solar, Momentum Solar, Powur, and I’m sure a bunch more could be added to that list.
I won’t buy a house with a solar panel on. Solar panels on top of commercial buildings or waste land make great sense, on residential homes? Not so much. I question a homeowner’s judgement when I see a solar roof installed and they are paying more per month in loan than their electricity. And worse all sellers I have run into insist on passing on the lease to the new owner, that tells you something. They are tired of dealing with the companies and they hate to pay off the loan with the proceeds from the sale because I think they feel they got ripped off. Would you like paying back a loan on something you are not so proud of?
Maybe if the solar system is fully paid off. What buyer wants to take on a home mortgage AND an existing long term solar contract. Buyers go into the housing market with a budget for the mortgage they can afford. I’ve never met a buyer saying I can afford x mortgage + x existing solar contract 😂
I have Momentum Solar , they actually been around for 15yrs.. They have an A+ rating with BBB. Very reputable company. Major backing from Lowes,Yankees,Bjs Make A Wish foundation ect.. couldn't let Momentum be bashed they are a really good company. The best credible one out here nowadays. For the short and long-term..
Thanks! And you can see the passionate comments for more details below. Electricity cost does keep going up, but my neighbors still shoo the solar sales people away. The overall cost of install needs to come down
They keep changing- Electric kwH cost keeps going up. And yet, my neighbors continue to turn down the solar sales reps knocking on the door in many cases. I had a california couple in town and they were shocked there wasnt more solar on the houses.
Great video!! You two ROCK! I'll help you go a bit deeper. The commissions earned by the young man/women who sat you and or knocked on your door are outrageous. Which is why price per watt varies by each different customer. The sales commissions are have a high level of variance, which explains the all these customers paying such different prices per watt. Installers are the designers, submitters of permits, stand inspection; those costs will likely be fixed for sometime. We may have reaached the point where people no longer move every 7 to 10 years going forward. Far too many people are locked into 20 year or 30 year ultra low rate mortage. All these folks are basically paid to stay in the home they are in now. The homeowners know this, which is why they will likey go PV. The home now really becomes a long term commitment. Thanks guys.
Great Insight! Thanks for watching and I do agree with some of these points. However people still move for reasons besides the lowest cost of living... such as divorce, downsizing, loss of life, job relocations, etc. Hard to plan your living situation out 10 years in the future when the max benefit from a solar system starts to take effect. And yes I agree the variance in price to allow for commissions is deplorable. We need a direct to consumer, $10k system all in cost that lowers electric bills by half.
Net metering 1:1 in Florida is why there are so many sales reps... and new homes with people thinking they will stay longer than 8 years payback period... but getting all the stars to align is not always doable. Thanks for watching
the solar is designed to produce enough power during the day to keep you running all night. All a powerwll does is keep your house on if the grid is down for about 8 hours. I was the one who knocked his door haha
What every you do not buy from a door sales solar company. Here in Tampa bay a bunch of roofers are posing as solar installers. Don't do it. Do not finance it. You will lose your advantage. I went with Tesla, and have offset $2900.00 in 10 months. Great set up. Well worth it.
My electric bill was $700 this month- running pool heater and lots of kids in the home. If I could get a 14kW system for $30k then tax credit that would make me really consider. the cost is just too high still
@@OrlandoPropertyAdvisor 11.5 DC - 9.6 AC 1 Powerwall 2+. My daily offset is 128% including the pool and kids, no EV. Shoot for reducing your actual usage, don't forget the net metering runs the meter both ways. 14kW seems good, but that puts you at tier 2 (above 10Kw) Here in Tampa Bay Duke forces you to get a one Million dollar liability coverage, about $750 per year further reducing your return. $30K for a 14Kw system is a good deal. Find the cash, sell your boat but it is worth it. One benefit not highly touted is the fact that the inverter puts out a pure sine wave, meaning all of your equipment is running more efficiently. My pool pump is almost silent since the Tesla install, refrigerators everything is cooler and better. So far I am real impressed with the whole Tesla program.
I live West of Boca Raton. I have been through several hurricanes, some of which have trashed people”s roofs. Afterwards, you can see the the contractors putting blue tarps on roofs that have been damaged. So, when I evaluate any changes to my home, I do so from the perspective of whether it will survive a Cat. 2 or 3 hurricane. If a roof with panels is leaking, I doubt that anyone is going to put a tarp on a electrified roof. So, your roof will continue to leak until the panels can be removed. I also have to wonder what type of winds those panels will stand up to. It is probably just me, but I am constantly preparing for the worst and hoping for the best.
Hurricane season 23 is coming, and you are absolutely right to think of these things. Regardless of how strong or wind rated they might be, anything could happen and you'd need a plan/cost to fix.
Yeah and honestly that is why sometimes buying the panels isn't always the way to go when it comes to hurricanes and natural disasters down here in florida. I sell solar in Miami and i don't sell people on the ownership of the panels, but i sell them on a power purchase agreement, and essentially they get the panels on their home and installed with no cost and my company i work with (sunrun) keeps the ownership of these panels but allows you to use them. Then at the end of the day the homeowner is able to get a cheaper bill, normally cutting the bill from 20-40 recent. And the great thing about this program in Florida is when it comes to natural disasters the panels are covered by sunrun, meaning when a hurricane hits or any damage is done to the panels, it doesn't come out of the homeowners pockets. So if your looking into solar but don't want the commitment of having the chance of any out of pocket cost in any situation , this is the way to go. My number is 228-806-0620 give me a call and i could give you more information.
I singed up to get solar system through Good Leap. Anthony was the sales person that converse with me about the system. ( May 19th, I signed the contract thinking as he told me for $60.000. When I finally received final contract, was for $90,000 I was pissed as hell! When I tried to contact him, he told me to talk to boss. Needless to say I didn't talk to anyone who made sense. At the time of this posting 10/1/2023, I still have not talked to anyone who will solve this. And needless to say, that to date the project is not completed. I was told that I would get some compensation when I file my taxes. I'm sure I believe this. I have all of this stuff in and outside of my house. The installers were sloppy, leaving water bottles, materials that I had to clean up. All I'm saying is buyer be aware and ask a lot questions before you you sign the a contract.
Crazy! I just googled this video randomly and started to watch it only to learn that you guys are just down the road from me in Laurette Park. I am near 417 and Lee Vista. I explored solar with "Solar City" (now Tesla) when they first came to Florida. In fact, SC told me I was the first person to inquire about it after they were legally allowed to start selling in Florida. I spent a LOT of time talking with the sales rep. who was in California over ZOOM calls. In the end equation he could not demonstrate that the system was going to save me money. I ran the numbers as you guys did and realized that the issue is that energy costs are already very low in Florida and it's very hard to end up the winner with a solar system... it's not a net positive proposition economically. The sales rep. wanted to convince me that rates could rise and solar would protect me from it but, here we are 6-7 years later and he was wrong.
haha small world- yeah I wish for more homeowners to find the winning combination that works for them- as my electric bills are now $500+ per month, if I were to stay in the home for 7-10 years, a $30k-$40k system would probably pay for itself by then, even including re-roof cost of panel re install. But I tend to move every 3-5 years. Many of the newer homes in Storey Park, Meridian Parks, and Pulte EverBe (near you) may have smaller kW systems "for free" from the builder (nothing is free) and solar panel loans or leases may come with them. Overall I feel like for buyers it doesn't necessarily make them want to pay more for the house. especially now that money is tight and interest rates are high
I'm in the PNW and we pay just under 13 cents a kWh, sort of explains why here I've never seen the numbers working out. Now, in another place like CA with their much higher energy prices, it can totally change your evaluation.
you fellas seem smart enough to realize that you could lose power for extended periods of time and that you can have a grid tied system also feed an off-grid battery system in your same residence, the same way you would attach a generator to your panel box so it doesn't back feed into the utilities. Just because it hasn't happened yet doesn't mean it won't happen.
Very true- I think we are spoiled here in Lake Nona, Orlando FL where most power lines are buried. The past 3 hurricanes we never lost power. But yes many other areas of Central Florida are not as lucky or new. So having some battery or generac generator system tied in makes a lot of sense, for those areas. I just filmed a Parade of Homes Showcase home on Lake Sheen on Rural land, that has all those systems- look for the full feature on this channel in the coming weeks leading up to the Parade
@Orlando Property Advisor all the power lines from the point of generation going to your homes are buried, daaaamn, that's good stuff Jack. Is the point of generation buried too?. Look I'm clearly being a smart a$$ just saying if you got the scratch don't half a$$ it. Just imagine you sitting at the island in your kitchen and all you want to do is make a daiquiri, but you can't because you put toooo much trust in the system. God bless.
If you install panels on your roof, I hope you are able to periodically wash them. They do get dirty. I'm leery of solar panels because of hurricanes and they may catch hurricane-strength winds and damage your roof big time. PS: You may have to get your roof replaced first. Think about that.
I had my windows washed by Fish Window Cleaning, and the house looked brand new again. I'm sure they have a soft-wash option that doesnt pressure wash or damage roofs or panels. And yes there were two hurricanes that came through right over top of my house in orlando with 65 mph wind gusts but no one's panels got ripped off. I did see in my Drone video a golf ball hit the eagle creek panels many times and cracked them (homes near golf course)
@@OrlandoPropertyAdvisor You still are at higher risk of incurring roof leaks with solar panels. As for the solar tiles, not only are they slippery, but they can warp with the hot sun in time. With all the money you spend on solar supplemental energy you are not saving any money in reality with monthly install bills, which is about $200 to $300 a month.
@@TomokoAbe_there’s many many expensive things that people simply don’t think about when they’re signing on the dotted line. Most of these contracts are 15-25 YEARS. A lot of shit can happen to your roof and solar system in 25 years. Especially in hurricane central Florida.
hindsight yes, those that locked in their prices 2-3 years ago are looking much better off than expected. Kinda like in real estate someone who bought a house in 2019 looks like a genius. But going forward the argument of rising utility cost to speed payback period is difficult
Your commentary on batteries is correct only as long as the utilities are forced to maintain 1 for 1 net metering and don't switch billing to 15 minute time of use with peak demand surcharge. They are lobbying the PSC to get rid of net metering every voting cycle. Your rules may be different inside city limit but the only offgrid requirement in Orange county is mandatory form of wastewater treatment ie septic/sewer. There is no requirements to have an electrical connection. You also missed that grid tied solar systems exceeding 10 kw backfeed require a $1 million bond policy (utility required) that almost negates your production savings with insurance cost. Orange county resident. 3 years net zero on a 9.25 kw DIY rooftop install at $0.87/watt before tax credit.
@@darwinjina My inverter is a SMA SunnyBoy 7.7kw connected to 9.25 kwp of panels on a south facing 5/12 pitch with slight shading 30-40 days either side of winter solstice. Have averaged 12.1 Mwh/year for 3 years. Napkin calculation on the design without shading issues was ~14 Mwh/year.
@@jstaffordii Thanks. Does the app display peak kW? I'm curious at the top of your daily curve at what is the number and how flat is it? For example, I would speculate it looks like bell curve with the top being a horizontal line. (Constrained by the inverter 7.7 kW)
@@darwinjina I only get the flat top (clipping at 7895 watts) about 10 days a year when its 60 degree temps and super sunny. Good day bell curve peaks are 6800-7400 average. Average days 5500-6000 peak.
Thanks for watching! We realize the laws and benefits differ in each state. Hopefully the cost to install solar continues to come down as the energy costs rise.
@@OrlandoPropertyAdvisor , the cost of solar is not real coming down. These solar companies are here to rip us off. In fCt, the price has risen since I had my 1st estimate. Most videos I've watched is leaning me not to get panels. There's is more Cons than pros on getting Solar.
unless you stay in the house for 7-10 years and get the system price per watt under the national average. And if your house faces south roofline that helps.
Thanks guys, good information. In fact I am living close to your area, just right by Vista Lake area, so many people come to my house trying to sell me solar, I hope I get good deal in next year or so.
I think this is a pretty good discussion for folks who basically don't have the skills to DIY a system for themselves. Notes: 1. I would avoid getting into a loan. You want to own the system when you go to sell the house 2. Battery backup can be very important. Your system is probably not going to work if the grid goes down. 3. If you do have some basic skills a DIY system with: a. 10,000 Watts of panels b. 13,000W of inverter power c. 30kWh of battery backup (LiFePO4) d. and a 9,500 W backup generator can be done for around $16,000 in hardware (after rebate) Thanks!
south facing roof facade where the panels mount to the roof trusses is ideal, on a newer roof so less changing out anytime soon. If only Amazon would get into the solar game maybe we can get to this pricing and it will be a no-brainer. Kinda like when tesla brought the price of the electric car down to a reasonable level.
What do you mean if grid goes down I get no power.. I have solar! During the night if necessary, you can use a 700 dollar generator to power your house. or I guess buy 10,000 dollars worth of batteries?
@@sofloemir Net metered systems with micro inverters are not going to work when the grid goes down. You need to have string inverters backed with batteries if you really want to be self reliant. Yes, a good backup generator will solve most of the problems your ever going to see (I have three of them). That's not a bad solution but battery backed solar is just better. That's because you will likely always have power no matter how long the grid is down whereas your generator will eventually run out of gas.
@Homestead Engineering it's just very expensive at the moment compared to a 700 dollar generator. It would be ideal, but not cost effective at the moment for me considering I've lost power for more than a day once in 8 years. Totally get it though, get good batteries and even at night you won't need anything from fpl.
@Homestead Engineering let me ask you this. Are you saying if grid goes down, and it's a nice and sunny day at noon, are you telling me my house won't have power? Or am I misunderstanding you.
The grid requirement is a state requirement. Also, a major point that I didn't hear you address was return cost from the power companies. I live in Polk County with a Lakeland postal address. I use Withlacoochie electric co-op, and they have a dollar for dollar return rate. This means that they credit me a dollar for every dollar's-worth of electricity that I put back in the grid. So if I had solar, I could use whatever electricity I need at night, and then put it all back during the day, and all I have to pay is the $36/mo service fee. But if I lived in Lakeland proper, Lakeland Electric would pay me 4 CENTS on each dollar's-worth of electricity I put back in the grid. So to break even (and I'm sure THEY have a service fee too) I would need to return TWENTY FIVE kilowatt hours during the day for every ONE I use at night. This is a pretty big deal and one you need to look into before getting solar. It might mean the difference between getting a battery backup (and don't say "well, I'll just do THAT", because the one I was quoted for my property was $300,000. Yeah, just for a battery system) or it might make the difference between getting solar or not getting it at all.
you're absolutely right- the net metering "rate of return" is key. I don't see OUC, Duke, or FPL offering dollar for dollar anywhere in FL. so that's one less thing to sell people on with selling power back to the electric companies. thanks for your input
Living in Lakeland FL and a 2000 square foot home my electric bill ( including water ) is only between 180 and 260 dollars based on temperature. This is an old house with original windows and doors not new energy efficient ones so solar does not make sense for me. But still a great video that confirmed my decision was wise.
I keep my AC at 72 and 74 downstairs/upstairs and have 4100 sq feet, pool pump, LED lights, energy efficient insulated 2021 build and it is still $350-$550 per month varies
They are totally door to door sales with limited knowledge of the product- goal is to get homeowner sold on it and let the tech guys come and install, they take their cut and move on to next neighborhood to sell. Like any product do your research and probably the best deal is not from a door to door salesperson.
This video has aged well. Im seeing more stories on the news of homeowners wishing they knew the legacy costs of installing solar on their roof and carrying the debt. Still, when priced right and done right, and if you stay a long time in the home, solar can be a benefit in Florida.
Without a comparison including batteries then you haven't given a complete picture. It's not about being off grid, it's about how long those batteries can power your home when the sun doesn't shine.
Batteries cost a lot. And how much power will be used from sundown to sun-up from the battery vs drawing from the grid... Will it completely change the payback period? Probably not. I just moved to Winter Park, FL and they don't even have a cheaper cost for kW at night (off-peak). kWH charge is 9 cents for the first 1000 and 13 cents thereafter.... Unless these systems cost $15k or less and you have no tree-cover blocking the panels, I just don't see how it is cost effective of a payback period.
So your neighbor didn’t seem to think the Powerwall was necessary bc power outages are rare, but how about for powering the house every day from dusk to dawn?
well you sell your power to FPL (I dunno OUC or whatever it is there) and then buy it back. Think of it like a bank account. depositing then withdrawing for 1:1 cost.
Yes I think Tesla stopped direct installs shortly after this video/Vijay had his done. I wish smaller systems 10kW were about $10k installed. Then many people could afford some solar and not have the huge $50k price tag that doesn't make sense.
Great video! Huge fan. Just bought a model y after buying a home in east park after moving from NYC. I was heavily considering solar but wanted to double check the numbers. This was a gold mine. Is it true lake Nona and the airport shares the same elec grid?
Hey man welcome! Thanks and yes parts of 32827 especially have buried power lines and we never lost power in the last 3 hurricanes, some of 32832 side does as well. I have a listing coming up in east park, so if you know anyone that wants to be your neighbor, haha! as far as solar if you just got a new roof and it has a south facing facade on the rear, a $30k-$40k system with tax credit and stay in the home 8 years would make sense. lots of factors to consider
how much is the monthly electric bill? my neighbor down the street regrets solar. the financing and utility bill was more than before the system was installed. this included having 1 million dollar liability insurance because it was a tier two system. they couldn't use the tax credit because it wasn't a refund and they didn't have enough tax liability to deduct the credit. i'm planning on installing a ground mounted system.
I would say our current electric bill is about $500/mo in the summer and $300/mo in the winter. The best way to go solar is to buy a house with a paid off system already installed, and a newer roof underneath it. Short of that- sticking to a smaller, less expensive system and staying in your home for 8+ years will pay it back. For Ground mount, you would need "No HOA" because most neighborhoods prevent the look of ground mount solar.
Also, there are plenty of states where people pay more often than not pay more their first couple years for solar than electricity. The reason this makes sense is because not only did they know exactly what they were paying every month, but eventually electricity rates will hike while solar is a fixed bill.
This is such B.S. 1st, panels start to product less over the years and they have to be cleaned regularly to get the most power. Then there is the issue of when the panels stop working and you fight with the company to for months until they show up. Then if you finance it get's even worse and most people don't qualify for a tax credit. There are stories after stories of people paying double and tipple of what they were paying before solar. While I'm pro solar, I'm not for ripping off people.
Every Videos on TH-cam are nothing but a hour long advertisement for a company business for all the solar panels or the realtor lawn mowing and computer repairs business company etc or whatever they are talking about in the video😢
So. Basically you are giving the bank money that you scecin your electric bill and giving it to the bank and then only have the panel working at night when sun down and charge during the day and then you have to still use your regular regular electric when it rains or snows covers the panels and your system is dead in a week sblw rain cloudy days storms how long does the battery lasts for a panels system
That's all good for those who can afford it, but for those who live check to check every month can't. I will gladly pay my electric company for my needs, which is not much any way. The cost of just the panels alone, would take me twenty years to pay off. Of course you would need storage batteries, and charger controllers to complete the set up. That would take me another oh say 30 or so years, and I will be 118 years old by then.
I have Geico for car insurance. I tried to get a quote on homeowners insurance in Florida, and they said they don't offer it. This gentleman claims he's got to go homeowners insurance? How's this possible? Because I want to bundle my insurance, and I'm not sure how he did it.
He already had umbrella policy at the time. Not sure why geico didn’t want to offer home insurance- but this shows you my point, not all insurance companies are quoting nowadays. I had progressive bundle and switched because the rate doubled for home insurance this past year
@@OrlandoPropertyAdvisor So you can agree that the lack of control over your insurance rate is why you switched? Insurance rates change every year for every company, they go up sometimes and they go down sometimes and not every company does it at the same time. Referencing to solar, if you could have an insurance rate that you knew what you were paying every month for 20+ years, that is the control people look for when going solar.
@@sethbruno4094 are you really trying to relate the cost of home insurance and industry rates to going solar to keep electric costs in check? Seriously people I am not against Solar and the concept of locking in the cost of energy as long as they stay put for 7-10 years to enjoy the benefit! And don’t expect homes to be worth $50k more because it has a system on it, that is all. Benefits must outweigh cost, not just to the original adopter of the technology but to future homeowners of that property that may need to take on debt or higher cost of roof replacement or home insurance cost.
IPMC. Would love to see someone with a battery-backed system attempt to stay off grid but local municipalities reference the international property maintenance code and strong-arm people into having to be connected
Your sound is excellent. What are you using for mic setup? Thanks for this video. I am afraid to look at my fpl bill for the month. Thought I might find some answers coming here.
great point- I was told by my insurance friends that people could see increases of $1000-$2000 depending on how old the roof is. And when the roof needs to be changed out, it can cost in the thousands to take the panels off and put them back on. These are the ugly truths about solar costs we aren't told about. thank you for watching
I understand that a solar loan is unsecured, but I have heard that you can refinance the mortgage and solar loan into one mortgage. Wouldn't that turn it into a secured loan with the solar panels included?
As long as Vijay didn’t jack up his home price due to solar installation why wouldn’t the buyer inherit the loan? It’s approximately $250/month either towards the loan or to the utility either way.
Logically taking on a debt that reduces your electric bill significantly makes sense, all other things considered- if a buyer loves the house and this is just an extra hurdle they have to get through, I can see buyers not having an issue with it. But when the budget is already stretched to the max with 7% mortgage rates, then the buyer has to qualify for another credit debt, and they feel like they are taking on a decision that the past owner made... this is where deals fall apart or the seller gets forced to pay if off. Storey Park lake nona is a perfect example, many other realtors have commented that $550k houses with buyers at their max then having to take on solar debt can kill the deal.
I have yet to find a single Californian who saved any money by installing solar panel or solar roof. They all regret it and are paying high price every month.
the concept makes sense in sun belt states with more new construction coming with smaller 8kw-10kw systems "included" or with a solar lease. But time will tell when they have to re-roof or after a storm how it will impact the customer's bottom line, besides the energy cost savings per month.
Batteries make a huge difference when (not if) net metering goes away. They failed to address that issue. If net metering goes away, their return will go severely down if they can't store energy and use it in their own house. Be wary of any solar system whose economics are tie to the existence of net metering. Florida almost lost net metering, passed the legislature and blocked by governor veto, but someday net metering WILL go away in Florida like it has in many other states.
Buying a $55K system without net metering is a loss, huge loss. The grid will power everything in the dark and everything over the panel output during the day, which means it gets only about 30% of your total load typically. You sell excess back at 25% or less. Net effect is your electric bill is now about 65% of what it would be without solar and the system doesn't pay off any more. The future of properly designed solar systems is on site storage and that's the only way to make it work with net metering going away. At the VERY LEAST, make sure your system can be upgraded to storage. If not, you will end up financially sunk with a system that won't pay back in any reasonable time.
shouldnt you also take into account the opportunity cost of spending the money on solar panels vs simply investing the money? why is it that people have these fancy spreadsheets with all the numbers but they forget to compare what their position would be if they had invested the money that they otherwise put into solar panels.
Financial advisor approach, I like it. recently with the volatility of the stock market, people might be more inclined to invest in other real estate, or if they intend to stay in their home for more than 8 years with a newer roof, go solar. Especially if they are charging multiple electric cars during the day or at night. All that being said, you are right if the investor gets even a 5% return over 8 years they can pay for whatever electric bills get thrown at them and then some. Hindsight 20-20 and it's similar to the argument of buying a toyota tacoma instead of a tesla because it will hold it's value better and cost less to operate over the long term, maybe even have fewer carbon credits... many ways to skin a cat
I live in Dr. Phillips and my roof is 6 years old. If we put in solar panels next year, will it not be cost efficient because we'll have to replace the roof in about 15 years otherwise we would get dumped by insurance and couldn't get new insurance, and then there would be a massive charge to take down and re-install the panels?
If you have a shingle roof you might need replaced in 9 years yes, since insurance companies jack up your rate when the roof is more than 15 years old, even if it is not leaking. Then you'd need to find a solar installer to take them off and re-install. Not sure how much that would cost but I'm guessing in the $3000 range at least, depending on how many panels and wiring, possibly more. These are the things people don't think about and it doesn't mean solar is not for you, but I'm glad you realize it prior to making a decision. Thanks for watching
@@OrlandoPropertyAdvisor thanks, then that would probably void the manufacturer's and installers warranty if I had to get another company to remove and reinstall it, so I think it's just not worth it now. Maybe when we replace the roof in 9 years we can get a solar roof or whatever the technology will be then.
I’m in Orlando and just had a salesman knock on my door. It was a full discussion about God, the Nicola Tesla scandal, the countless inventors that are suicided, the racket of government, the maintenance costs of owning a home, EV car racket, and he left my home with a smile and questioning his choice in careers. We can sell them back on the racket this nonsense is. 😂😂😂
YES! I had a group of 4 young door knocker kids who know nothing about solar except a memorized pitch stand in front of my golf ball hitting net in my garage as I hit 9 irons and I made them do their pitch while wincing at each shot sound (the net is strong, they were not in danger). Poor door to door salespeople, there are better ways in 2023 to get a customer
Very informative! I'm in the market for going solar, question: Even though, your home needs to be connected to the grid, is it legal to use a transfer switch to use the batteries to some extent, and use the grid some portion of the day/night as necessary? or does that method count as some sort of the illegal "offgrid"? If you can only use the batteries strictly for power outages, then there's very little value on getting them.
To get C.O. Certificate of occupancy the building inspector is going to look at the configuration, and if you had a way to cut power from the grid they aren’t going to allow that. But if your household uses a lot of kW, having batteries for evening use and charging of electric vehicles could make sense.
The utility requires a disconnect lol 😆 so yes you can disconnect And you can go offgrid Just don't pay your power bill and they will happily disconnect you from their grid. Poof your now "off-grid" BTW I live off grid full time in Avon Park fl no problems. No meter on my property.
What will a customer pay the utility company with a modest 3% rate of inflation over 20-25 year span vs having solar panels at a fixed monthly cost? I guess people should be ok with renting power for homes they own forever 🤔🤔. Making the utility companies richer seems to be the solution
@OrlandoPropertyAdvisor Some companies don't charge to remove panels if you buy panels with said company and go through them for roof work at cost. Also, let's not chase the rabbit(roof work) here but rather keep our focus on the wolf(Utility company) in plain sight. I would never advocate for someone paying for a bill that only expires at your death. Do the numbers on an average family's lifetime electricity cost with a modest rate of inflation and compare it to a new roof and solar???? Or better yet approach the families who have gone solar and see if you can interest them in another lifetime inflating electricity bill. Common sense seems not to be as common as one would expect ehh 🤔
@OrlandoPropertyAdvisor Show the people the difference between 4k for panel removal vs no solar and an additional 100k+ over the next 25 years in electricity cost. Inflation is real buddy! Corporate greed is real also sir! Ray Charles can see solar is the better option by a country mile. Why own your house and rent the power at an over-inflated cost? I guess you would support lifetime mortgages at inflated interest rates yearly too huh?? Solar can lower the operating cost of anyone's home. This is the message that people should be hearing from you and not some straw argument about a roof lol.
what if they move in 7-10 years like the average person? Have you seen insurance rates with solar on the roof? it's at least 20% more per year to insure. What if Said Company goes out of business or no longer provides in florida (which many have). The electric car debate is the same. Save on gas but pay higher cost of initial investment, insurance, potential repair cost, batteries replacement, etc. Ultimately it comes down to if they WANT solar and their own perosnal choice to stay in the home long enough to justify the return. Why Refinance a loan if you're going to sell it in 2 years? You have to stay to justify the payback period. @@Theking42427
@OrlandoPropertyAdvisor An attachment to the outside of your home is covered by most insurance companies. I'm baffled as to why something that lowers a home's operating expense would not be covered by insurance. If the insurance company drops the customer it would take minutes not hours to find a more than suitable replacement. If a family moves in 7-10 years and has paid the panels down at a "fixed" inflation-proof cost ask yourself this simple question, sir. Are solar panels cheaper at a set price and with an end date to eliminate most of the electricity bill versus starting fresh with no panels and paying until you die or sell the home? I'll take the panels and pay for something that will help keep my operating costs in check. Oh and if the 2nd family pays the panels off they can sell a home with paid-for solar and benefit from the initial buyers being able to see the forest for the trees.
Are these actual KW's that the panels produced or is it expected #,s? Is his payment higher than what he would pay the electric company for the same amount of KW? Did I get this right? How do you wash them panels?
He had just installed his system and for the month prior, it produced that many kW's. But because of the cost of electricity at the time and his loan payment, it was about the same cost. If we were to look at the cost of energy now and his average monthly production of the panels, it would probably be more favorable in the "own solar" conversation.
@@OrlandoPropertyAdvisor What was his production #'s in Jan. There is no way I could get that power from them in Pa. I am 15-20% below rated specs in ideal conditions. I have rea that in high heat in Fla. they can degrade 2-3% a year
Weird comments, solar is only about 22 percent efficient, the system at 14Kwh only produce when it is daylight, most will need batteries or if lucky can sell excess to PUC and get it back when needed, most places still pay quite a bit in that exchange...many systems also have hardware limiting the actual size of the capture the panels have to be balanced with the right size connecting hardware and beware of anything interfering with the PVs most panels only last about 10 years and slowly reduce generation over time due to degradation...PPE or loans to put in have all kinds of contractual issue, don't trust the companies have a legal person look them over for termination and other issues
Rule #1 Never ever buy solar from a door to door unsolicited sales person. High quality solar companies don't need comissioned lead generators. They are usually about $1500 of additional middleman expense to the job. Word of mouth referrals from prior customers and great reviews get them more business then they can handle.
are there any Central florida based solar companies you would recommend people get quotes from? you can DM me if you prefer, i'm always keeping a list of vendors to recommend to clients
I drove through a really poor neighborhood and unfortunately almost every house has solar panels. All I could think about is a sales guy took advantage of uneducated people living there.
Yeah I just saw that on their website- Supply chain issues? More like lack of profit. All the more reason for local companies to shine (no pun intended) and offer better service and lower price per watt.
Literally electricity rates got raised 10% and it’s gonna get raised another 20% in Tampa starting in April. This is all so false. It just seems like you have something against solar in my opinion. You can stay paying 600 for your electricity bill. That’s your problem, but solar really helped me out in Tampa.
Duke energy just raised rates by 4% for the next 21 months. I have nothing against Solar if you plan to stay in your home for 7 years and if other factors covered here make sense for the roofline and budget. Thanks for watching
we did a lot of research, breaking down vijay's numbers vs the more expensive plan I was pitched, and looking at many customer's i've sold houses for that have panels. Electric rates are rising, party due to the cost of natural gas and the war in ukraine, inflation.... but over the last 10 years they have remained relatively flat- and were due for a rise. average annual rate increase over a long period of time is indeed 2% oneenergy.com/wp-content/uploads/2020/06/Florida-FL.pdf
@@OrlandoPropertyAdvisor I'm no mathematician, but on the link you provided, it says 1999 rate is 6 cents, then 2018 9.2 cents and predicted 2038 is 13.6 cents. with some years going up over 10%. so, it's going up 2% roughly every year. will my solar panel payments (or cash if I do it) go up 2% every year?
Exactly. Payback period is long, and then you need to convince a buyer to pay more for the house with a paid off system. then pay to remove the panels when you get a new roof and put them back.
Farmer's Insurance Left the state of Florida recently. And many of our policies doubled or tripled, due to home value increase, labor shortage, materials increase, etc. I'm sure Vijay will be fine but it is important for people to understand many of these Homeowners are getting raped with $4500+ per year home insurance rates on basically new homes
I live in miami……i have been through 4 hurricanes in 28 years……..lost power 2days, 3days & 4days……. I was lucky!! I had friends in broward who lost power for over 2 weeks….. but thank you for informing me….of the need for the battery……..i may not need that at all!
Insurance cost 💲 is the new elephant in the equation, especially with an older roof. I got a quote from a roofer to remove and replace the panels on a smaller home was $3500
And the cost of electricity is more than .15 cents per kWh now…. But it’s still to expensive to justify a system of $50k… we need Elon musk to bring the cost down via mass production so an entire system is $5k-$10k and produces 80% of your electric bill and lasts 10-15 years
Agreed. I dont see purchases making sense anytime soon however. Not until a robot is installing it. The lease does make sense, the agreements should be for shorter amounts of time perhaps but it's just a way to finance without making people take the loan and the company takes the loan instead.
As the cost of energy rises, and if the roof lines are optimal, and if you plan to stay in your home more than 7 years, Solar makes more and more sense.
Interesting video. But I think it’s important to note that solar today is not meant to be an investment like it once was. You used to HAVE to pay up front, and would accept a return of investment period of 8-12 years. Today, all solar is is an addition to lock in all or as much of your electricity rate as possible to combat yearly rate hikes. Whether you care more about price overall than warranties or company stability, that is up to each different homeowner and their situation. But solar today if done right does not cost you anything up front, all it does is lock in your rate. EVEN if you have to pay a little more your first year or a few, you will always save in the end as these are 25 year panels most of the time. By that time, who knows what electricity rates will be, but they will be more than the rate you originally locked in at. Also you mention that rates have only gone up for electricity at 1.9% inflation rate per year. Does this include general rate increases, or are you only referencing inflation? Again I found the video very interesting and it was a good debate. Solar does not work on every house, but I do believe many people have the wrong idea about solar.
The challenge with insurance companies in Florida cancelling people who install solar panels is houses that have systems that are more than 10 Kw have increased liability. This guy’s 14 Kw system is above that threshold. If you get a system that’s below that threshold you won’t have issues with your homeowners insurance.
Tesla Solar worst customer service ever. It is hard to get in touch with anyone and when you do, it is months before you get anyone out if they actually make it without rescheduling.
I would also add that the down payment (out of pocket cost) of $3,355 is more like $6,600 assuming you invested the money over 10 years and earned 7%. So I would add the opportunity cost of $3,245 and then recalculate.
We might never see the interest rate Vijay got again. It's funny how there are less solar sales people door-knocking now. All that being said, I hope people that want solar can find a great deal on install cost, low loan cost, and pay it off before selling the home :)
Very nice presentation, with one caveat; many of the US energy producers have now adopted Time of Use electric rates, with many more to follow. During high power demand periods ( typically noon until 7 pm) the Kwh rates jump to triple/quadruple normal rates. Most utilities track if your PV system produces excess energy, and credit you an equal amount to offset your monthly consumption. Net metering has gone away, but this can save you a lot of money if you can store excess energy in your batteries during the day, and use it to charge your EV , or to offset your consumption, during high-priced periods of the day. So, energy storage should really be part of the equation for folks to consider, even if they don't have an EV. Negawatts are great, but shifting consumption to off-peak periods wii become the next big thing. Good job guys. Steve
I don't think OUC or DUKE energy (FPL) have variable rates, but I could be wrong. And Net Metering is still in effect but it is not 1 to 1. I think if the batteries can last 10 years without losing their efficiency along the way you are correct indeed it is the ability to shift the power on cloudy days or to the evening that can reduce the bill more so than just system size. and staying in the home for 7-10 years for payback.
You should have also yake into account the cost for them to take them down to repair ir replace the roof. Then the cost for them to reinstall them. You lose a lot of money. My friend had to pay about $35,000 to have them taken down and reinstalled to replace the roof. Solar panels are not worth it.
Great effort, good job putting this together, however the math isn’t being done correctly. BJs OUC pricing is way off. And don’t get me started with the “stats” of rising costs of utility. It is absolutely wrong. (4 years as a utility contractor and 2+ years as a solar contractor) Trending over 10% year over year! Also, the assumption of “having to pay off the system” is subject to many many factors. Obviously salespeople claim the world for a sale, but my “debt” is already trending nearly 5% less than utility rates. And my system is only a year old. That’s at a 2.9 with batteries. AND that solar quote you received is absolutely over built and over priced. As both a south Florida local and living in orlando myself, I can assure you with proper math, including every variable discussed, the math is always going to play out in the homeowners favor, as long as sales person is ethical. 100% strong points, however there’s much more than meets the eye. Especially with grid-tied solar. Again, excellent efforts, however a handful of the math needs to be clarified and accurate. Google searching averages isn’t true-to-spec for that zip code. I wish it was that easy!
Thank you for your expert local insight, yes I do see the rising cost affecting some families and when paired with an ethical salesperson it can work out for those who stay for 7+ years. The value of the system at time of sale even when paid off though to the next homeowner I have seen time and time again many do not appreciate it like the current homeowner does. However In newer neighborhoods you are seeing more and more solar, so it could become the norm on 50% of sales, and we as realtors need to know the real cost of these systems to explain the benefits vs debt repayment (or not) to the next buyer making the offer. When the next time comes for that scenario I’ll have your advice to help make the sale! Thank you again
Don't call it a rebate, it's a tax credit, you will not get a check, if, as in my case being retired and living on social security only I have no tax liability. There would be no credit unless in the future I owe any taxes the credit will cover it up to the aloud credit.
Farmers left the state of FL... and if the roof is 15 years old, it is very difficult to get insurance period. Then there is the $1M liability when connecting to the grid that can double your policy. Tesla solar roof was being offered in nearby sunbridge saint cloud, but then put on hold. $150k quote for that roof.
@@OrlandoPropertyAdvisor Good info, thanks! With a 24 year old asphalt shingle roof, I'm looking at a replacement soon and was considering Tesla Solar Roof. The price hikes and install debacles have cooled my interest, however.
Great video!! What do you guys think about renting the panels? I don't need to worry about upfront cost and repairs (sure no tax benefits, I'm more about saving mostly energy cost)
depends on how long you plan to stay in the home and the ramifications of trying to sell your house with a system that has a lease payment they need to take over. Like In Storey Park lake nona area 32832.
@@OrlandoPropertyAdvisor Thanks for the reply! I just bought my first home last October. I don't plan on moving or leaving anytime soon. I guess it depends how long the rental contract is. I'm located in Tampa... Not to far away 😊
It depends on if the system is connected to the grid, for net metering, which most are- this is where you need the $1M liability insurance on the system as well as the fact the home insurance primary will be affected due to panels screwed into the roof and when replacing the roof it will cost more to take them off and put back on- but as Vijay mentioned he already had ample coverage with geico. There are carriers/brokers that can structure the policy the best way. I use Andrew Harrell from Harrell insurance agency here in Saint Cloud Florida to shop around for clients.
I believe he was showing $245/mo for the kW hour usage, which was less than what his financing charge is. However OUC charges a grid connection fee so there is no $0 electric bill, and in the winter his panels won’t produce enough to cover the power bill entirely.
We got a 30 year loan. 42,000 system. The panels are insured and probably will outlast my life. I pay less a month compared to an electric bill. I sell the extra to my electric company. And I got 6,000 back in cash on what they call a tax credit. Will get another 6,000 back next year. So happy I got my system cheaper than the naysayers who will be getting it sooner or later. Because the electric bills will be out of reach for many families. I suggest getting a system before 2023 ends.
what if you move in 2 years. how much will the system debt be then, and what do you think a buyer is willing to pay for the home at that time. What about in 5 years? I agree solar has its benefits when you get the system at the right cost, and the financing at the right cost. and have net metering. and have your roofline facing south for highest efficiency. fuel costs are indeed going up. But everyone's situation is different and they need to take all these things into account before making a large financial decision with their largest real estate asset. I will probably go solar myself on my next home, if the right circumstances present themselves.
@@OrlandoPropertyAdvisor definitely not for everyone. I personally am not moving again. But if I did want to sell. I won’t deal with an agent that can’t sell it to a new buyer. You also have to have the correct layout for solar. And companies that don’t send an engineer out. I wouldn’t deal with them.
@@OrlandoPropertyAdvisor I don’t speak for all companies, but the company I represent offers a transfer of service guarantee. The next homeowner qualifies without even a credit check, and was made to be a smooth process with moving in mind. Yes they take on a larger debt when buying the home because the system will add to that, but they’re just taking over the contract where it was left off… with the rate the original homeowner locked in at. The point of solar is not immediate savings, it’s to lock in as much of your rate to have control over rate increases. The sooner you go solar, the lower rate you lock in at because the utility companies will always have larger increase than your solar payment interest.
@@sethbruno4094 yep, look up Storey Park lake Nona 32832. Every house has solar and debt, buyers must take over the debt when the sale happens. Even if the home appraised for less than contract price. As the numbers tighten to obtain the house itself, buyers care less and less about the $300 electric bill savings. I applaud the homeowners that pay off the debt when selling for a clean transaction and the next Honeowner is super happy with no electric bill. But yes the transfer of debt happens a lot in that neighborhood, and home shoppers need to understand the actual monthly cost of HOA, taxes, Solar debt payback period to stay in affordability range with their mortgage lenders.
We have been looking into solar panels for our house. But I’m trying to find a company that can put it on the property and not on the roof. Florida is a tropical region and solar panels are not good for the roof besides it voids roof warranty! We want solar, but we want freestanding.. very hard to find a company that can do this efficiently cost wise
Hmmm I saw a house with a panel on 45 degree metal brackets in the yard, this was a No HOA area and they had space to put it there, and run all the electrical to the house/batteries/generators.
Prices and terms vary but basically you're paying $250 a month to the solar lease and have to qualify on credit, this offsets your electric bill somewhat but you never end up paying it off. The next buyer coming in has to qualify on credit and assume the lease. Not sure who covers replacement or removal of panels if the roof has to be swapped out
If your insurance company won’t cover you. Get a real company to insure you. I do t do business with people who don’t even understand their own business. SMH!
That was complicated and fussy. If you can make a kWh for 3 or 4 cents, and your utility is charging you 11 cents in after-tax dollars, it's a no-brainer TODAY. Utility rates double about every 10 years, and then double again and again while your PV is fixed. Plus, the Tesla driving cost is 1-2 cents/mile vs ICE vehicles that cost 20 or 30 or 40 cents/mile (plus all that maintenance, fluids and more) from the convenience of your home, AND you don't have to touch that germ covered gas pump. Best Investment you can make is energy efficiency, by far! That way you can save on wasted energy and wasted PV cost and financing and all the stuff you talked about.
@@OrlandoPropertyAdvisor Think long-term. The house has solar (PV). Maybe it has no utility bill, no fuel bill for your cars. You are your own power company. If you did some energy efficiency, it's more comfortable, healthier, quieter and it will sell for more. Plus you got tax credits and other incentives. Same Net Cost or less for both you and your buyer. It's an upward spiral instead of a downward spiral. Now you're thinkin'.
@@DK-vx5co I agree with your statement if the system cost was less than $50k and is at least halfway paid off, I can market the home at a higher price per square foot than the same exact floorplan down the street... however it will take finding the right buyer who values this system. Not every house is meant for the solar upgrade, is the point i'm trying to make.
@@JustinPekarek-em4js Agreed. It's the same with a pool, a second floor, a house that needs a roof, or a home with only a 2-car garage. $50K sound like an insane amount for PV. Is the house 15-20 degrees hotter upstairs? That's an energy efficiency problem. Over-buying PV for an inefficient home is like buying the jumbo size of toilet paper and tossing most of it out the window in a giddy, hysterical ride home. Some people just don't care or they don't have good information. For instance, how many Net Zero Energy homes do you know of or sell? Some people will ride their horse to work and shovel manure on the weekends. Maybe their grampa and his grampa rode horses and loved them. Horses for transportation worked for thousands of years, but then we came up with a more intelligent solution. Same with PV.
@@DK-vx5co I have filmed and helped customers build ICF net zero homes. In Laureate park where this video was filmed and focused on for comparison, our homes are quite energy efficient. to reiterate, solar can be a smart investment if the right set of circumstances apply to said homeowner, and all I ask is that they think about the exit strategy, even if they plan to stay in the home for more than 7 years. thank you again for your insight and comments.
Lakeland Electric will force you into Time OF Day billing if you go solar which is a deal killer because your high electric use is after the sun goes down (mostly) and your electricity cost almost doubles. You will have to pay big bucks for batteries to shift your solar electric availability back 4 hours. Good luck trying to compete with your electric company once they go solar too.
Solar is for control. You know what you’re paying for however long your term is, and God knows what electricity rates will be. Looking at rate increases in the past though, and knowing rates will keep increasing, solar is always a good idea if it locks in your rate at a fixed rate. Unless you have a giant tree over your roof or too low of credit or just THAT low of a power bill, solar is almost always going to save you money in the end, and it will always give you more control over your bill.
the financing in general had a lot of padding from what I understand. the sales rep even told me he has a "red line" where he can quote higher to make more money up front, which is sad really. no matter who you go with or which financing, it needs to make sense for a 6-7 year payback period and preferably on a newer roof when installed
Vijay liked the fact that Tesla did not ask for any monies up front. He said it was pretty fast to get the install going. As far as hooking it up to the grid he did not pay until it was hooked up.
@@OrlandoPropertyAdvisor We're in the clear for now, but we all know eventually they will win. Hopefully by then battery tech will improve enough to have more affordable batteries for night time.
@@johnjohnstone5206 exactly. People don’t buy the cheapest house made with the cheapest material, why would you want the cheapest equipment to be installed on your home? You wouldn’t…. Unless you want to deal with 6 month maintenance waiting times and faulty systems
A nearby seller of a $2MM home just put an $85k system on his roof, then got relocated to Australia. He will be paying off the loan before closing with the proceeds of sale. Next homeowner will get the benefit of $0 electric bills. Best way to get solar!
Everything “bad” about solar in Florida has to do with the fact that the utility companies are a monopoly in that state. They effectively have a stranglehold on energy in Florida.
If you could disconnect from the grid then solar makes a ton of sense (even in the short term). Over the long run, 7+ years, again solar makes a ton of sense.
Also, as an engineer (with over a decade of experience building solar farms & commercial installations domestically and internationally) I would say that looking strictly at price per watt (PPW) is a foolish way to evaluate solar’s value. It’s what people do when they don’t know enough about something to make an educated decision, so they boil it down to cost (PPW).
The fatal assumption there is that all solar is equal which is not the case at all. The warranties matter tremendously on something that’s going to be on your roof for twenty plus years & the reputation of the installer matters just as much as the warranties.
Personally I am a fan of Tesla (for their cars and battery innovation) but their residential solar offering is subpar in many ways. The most glaring one being the lack of customer support. The equipment is fine but you better pray that nothing ever goes wrong or you’ll be waiting weeks (if not months) for them to fix it. That’s why they can sell it at the cheapest price in the market because there’s no margin included for long term customer support.
Also, this notion that people don’t want to buy a house with solar is complete nonsense. Zillow actually did a study that showed solar homes sell faster and for more money than non-solar homes. Because people want to walk into a house with little to no electric bill.
All that being said, don’t go solar if money is all you care about. Go solar if you want to save money over the long run (5+ years), do your part environmentally for your kids, have certainty about what you’re electric payment will look like, and have an end date on the vast majority of your electric bill (minus connection charge). Most importantly, do your research and pick a reputable solar company.
P.S. Avoid the forced sales tactic companies as they usually don’t stick around for the long run. In my personal experience the companies to avoid in Florida are Vision Solar, Momentum Solar, Powur, and I’m sure a bunch more could be added to that list.
Thank you for this, you make some great points. Appreciate the input 👍😎
I won’t buy a house with a solar panel on. Solar panels on top of commercial buildings or waste land make great sense, on residential homes? Not so much. I question a homeowner’s judgement when I see a solar roof installed and they are paying more per month in loan than their electricity. And worse all sellers I have run into insist on passing on the lease to the new owner, that tells you something. They are tired of dealing with the companies and they hate to pay off the loan with the proceeds from the sale because I think they feel they got ripped off. Would you like paying back a loan on something you are not so proud of?
Maybe if the solar system is fully paid off. What buyer wants to take on a home mortgage AND an existing long term solar contract. Buyers go into the housing market with a budget for the mortgage they can afford. I’ve never met a buyer saying I can afford x mortgage + x existing solar contract 😂
@lordlee6473 i dont know. A lease isnt a bad deal, go into the deal paying less than you would with regular utility sounds fine.
I have Momentum Solar , they actually been around for 15yrs.. They have an A+ rating with BBB. Very reputable company. Major backing from Lowes,Yankees,Bjs Make A Wish foundation ect.. couldn't let Momentum be bashed they are a really good company. The best credible one out here nowadays. For the short and long-term..
Great job explaining everything about going solar in Florida.
Thanks! And you can see the passionate comments for more details below. Electricity cost does keep going up, but my neighbors still shoo the solar sales people away. The overall cost of install needs to come down
Great video! Had no idea about the insurance issue with the install. Thanks for breaking down the numbers
They keep changing- Electric kwH cost keeps going up. And yet, my neighbors continue to turn down the solar sales reps knocking on the door in many cases. I had a california couple in town and they were shocked there wasnt more solar on the houses.
Great video!! You two ROCK! I'll help you go a bit deeper. The commissions earned by the young man/women who sat you and or knocked on your door are outrageous. Which is why price per watt varies by each different customer. The sales commissions are have a high level of variance, which explains the all these customers paying such different prices per watt. Installers are the designers, submitters of permits, stand inspection; those costs will likely be fixed for sometime. We may have reaached the point where people no longer move every 7 to 10 years going forward. Far too many people are locked into 20 year or 30 year ultra low rate mortage. All these folks are basically paid to stay in the home they are in now. The homeowners know this, which is why they will likey go PV. The home now really becomes a long term commitment. Thanks guys.
Great Insight! Thanks for watching and I do agree with some of these points. However people still move for reasons besides the lowest cost of living... such as divorce, downsizing, loss of life, job relocations, etc. Hard to plan your living situation out 10 years in the future when the max benefit from a solar system starts to take effect. And yes I agree the variance in price to allow for commissions is deplorable. We need a direct to consumer, $10k system all in cost that lowers electric bills by half.
I let my pit bulldog greet the solar salesman. 😂
Haha yeah! Tell that scammer who’s boss ;)
Really great video! This helped me make a decision to get solar panels on my Florida home. Thank you for the information
Glad it was helpful! thanks for watching and jealous of your $0 electric bill!
Wicked good discussion. Thx!
Net metering 1:1 in Florida is why there are so many sales reps... and new homes with people thinking they will stay longer than 8 years payback period... but getting all the stars to align is not always doable. Thanks for watching
the solar is designed to produce enough power during the day to keep you running all night. All a powerwll does is keep your house on if the grid is down for about 8 hours. I was the one who knocked his door haha
@@Maxsolar561 haha small world! Thanks for watching
What every you do not buy from a door sales solar company. Here in Tampa bay a bunch of roofers are posing as solar installers. Don't do it. Do not finance it. You will lose your advantage. I went with Tesla, and have offset $2900.00 in 10 months. Great set up. Well worth it.
My electric bill was $700 this month- running pool heater and lots of kids in the home. If I could get a 14kW system for $30k then tax credit that would make me really consider. the cost is just too high still
@@OrlandoPropertyAdvisor 11.5 DC - 9.6 AC 1 Powerwall 2+. My daily offset is 128% including the pool and kids, no EV. Shoot for reducing your actual usage, don't forget the net metering runs the meter both ways. 14kW seems good, but that puts you at tier 2 (above 10Kw) Here in Tampa Bay Duke forces you to get a one Million dollar liability coverage, about $750 per year further reducing your return. $30K for a 14Kw system is a good deal. Find the cash, sell your boat but it is worth it. One benefit not highly touted is the fact that the inverter puts out a pure sine wave, meaning all of your equipment is running more efficiently. My pool pump is almost silent since the Tesla install, refrigerators everything is cooler and better. So far I am real impressed with the whole Tesla program.
I live West of Boca Raton. I have been through several hurricanes, some of which have trashed people”s roofs. Afterwards, you can see the the contractors putting blue tarps on roofs that have been damaged. So, when I evaluate any changes to my home, I do so from the perspective of whether it will survive a Cat. 2 or 3 hurricane. If a roof with panels is leaking, I doubt that anyone is going to put a tarp on a electrified roof. So, your roof will continue to leak until the panels can be removed. I also have to wonder what type of winds those panels will stand up to.
It is probably just me, but I am constantly preparing for the worst and hoping for the best.
Hurricane season 23 is coming, and you are absolutely right to think of these things. Regardless of how strong or wind rated they might be, anything could happen and you'd need a plan/cost to fix.
Yeah and honestly that is why sometimes buying the panels isn't always the way to go when it comes to hurricanes and natural disasters down here in florida. I sell solar in Miami and i don't sell people on the ownership of the panels, but i sell them on a power purchase agreement, and essentially they get the panels on their home and installed with no cost and my company i work with (sunrun) keeps the ownership of these panels but allows you to use them. Then at the end of the day the homeowner is able to get a cheaper bill, normally cutting the bill from 20-40 recent. And the great thing about this program in Florida is when it comes to natural disasters the panels are covered by sunrun, meaning when a hurricane hits or any damage is done to the panels, it doesn't come out of the homeowners pockets. So if your looking into solar but don't want the commitment of having the chance of any out of pocket cost in any situation , this is the way to go. My number is 228-806-0620 give me a call and i could give you more information.
I singed up to get solar system through Good Leap. Anthony was the sales person that converse with me about the system. ( May 19th, I signed the contract thinking as he told me for $60.000. When I finally received final contract, was for $90,000 I was pissed as hell! When I tried to contact him, he told me to talk to boss. Needless to say I didn't talk to anyone who made sense.
At the time of this posting 10/1/2023, I still have not talked to anyone who will solve this. And needless to say, that to date the project is not completed.
I was told that I would get some compensation when I file my taxes. I'm sure I believe this.
I have all of this stuff in and outside of my house.
The installers were sloppy, leaving water bottles, materials that I had to clean up.
All I'm saying is buyer be aware and ask a lot questions before you you sign the a contract.
I recently put up a no solicitation sign because of all the solar solicitation.
Lol I had one last week and told him to watch this video on TH-cam first then try to sell me
Crazy! I just googled this video randomly and started to watch it only to learn that you guys are just down the road from me in Laurette Park. I am near 417 and Lee Vista. I explored solar with "Solar City" (now Tesla) when they first came to Florida. In fact, SC told me I was the first person to inquire about it after they were legally allowed to start selling in Florida. I spent a LOT of time talking with the sales rep. who was in California over ZOOM calls. In the end equation he could not demonstrate that the system was going to save me money. I ran the numbers as you guys did and realized that the issue is that energy costs are already very low in Florida and it's very hard to end up the winner with a solar system... it's not a net positive proposition economically. The sales rep. wanted to convince me that rates could rise and solar would protect me from it but, here we are 6-7 years later and he was wrong.
haha small world- yeah I wish for more homeowners to find the winning combination that works for them- as my electric bills are now $500+ per month, if I were to stay in the home for 7-10 years, a $30k-$40k system would probably pay for itself by then, even including re-roof cost of panel re install. But I tend to move every 3-5 years. Many of the newer homes in Storey Park, Meridian Parks, and Pulte EverBe (near you) may have smaller kW systems "for free" from the builder (nothing is free) and solar panel loans or leases may come with them. Overall I feel like for buyers it doesn't necessarily make them want to pay more for the house. especially now that money is tight and interest rates are high
I'm in the PNW and we pay just under 13 cents a kWh, sort of explains why here I've never seen the numbers working out. Now, in another place like CA with their much higher energy prices, it can totally change your evaluation.
How often are the panels washed/cleaned? Do you have a service do it so you don't need to climb up on the roof?
I’m not sure, maybe people soft wash them once a year? I use fish window cleaning for my house windows
@@OrlandoPropertyAdvisor hmm, why 'fish window cleaner' ?
you fellas seem smart enough to realize that you could lose power for extended periods of time and that you can have a grid tied system also feed an off-grid battery system in your same residence, the same way you would attach a generator to your panel box so it doesn't back feed into the utilities. Just because it hasn't happened yet doesn't mean it won't happen.
Very true- I think we are spoiled here in Lake Nona, Orlando FL where most power lines are buried. The past 3 hurricanes we never lost power. But yes many other areas of Central Florida are not as lucky or new. So having some battery or generac generator system tied in makes a lot of sense, for those areas. I just filmed a Parade of Homes Showcase home on Lake Sheen on Rural land, that has all those systems- look for the full feature on this channel in the coming weeks leading up to the Parade
@Orlando Property Advisor all the power lines from the point of generation going to your homes are buried, daaaamn, that's good stuff Jack. Is the point of generation buried too?. Look I'm clearly being a smart a$$ just saying if you got the scratch don't half a$$ it. Just imagine you sitting at the island in your kitchen and all you want to do is make a daiquiri, but you can't because you put toooo much trust in the system. God bless.
Thank you for this great video and explanation
thanks
If you install panels on your roof, I hope you are able to periodically wash them. They do get dirty. I'm leery of solar panels because of hurricanes and they may catch hurricane-strength winds and damage your roof big time. PS: You may have to get your roof replaced first. Think about that.
I had my windows washed by Fish Window Cleaning, and the house looked brand new again. I'm sure they have a soft-wash option that doesnt pressure wash or damage roofs or panels. And yes there were two hurricanes that came through right over top of my house in orlando with 65 mph wind gusts but no one's panels got ripped off. I did see in my Drone video a golf ball hit the eagle creek panels many times and cracked them (homes near golf course)
@@OrlandoPropertyAdvisor You still are at higher risk of incurring roof leaks with solar panels. As for the solar tiles, not only are they slippery, but they can warp with the hot sun in time. With all the money you spend on solar supplemental energy you are not saving any money in reality with monthly install bills, which is about $200 to $300 a month.
@@TomokoAbe_there’s many many expensive things that people simply don’t think about when they’re signing on the dotted line. Most of these contracts are 15-25 YEARS. A lot of shit can happen to your roof and solar system in 25 years. Especially in hurricane central Florida.
You forgot to add regular inflation 3-4 percent plus normal utility company raising it 1-2 it’s 4-6 percent yearly.
hindsight yes, those that locked in their prices 2-3 years ago are looking much better off than expected. Kinda like in real estate someone who bought a house in 2019 looks like a genius. But going forward the argument of rising utility cost to speed payback period is difficult
Your commentary on batteries is correct only as long as the utilities are forced to maintain 1 for 1 net metering and don't switch billing to 15 minute time of use with peak demand surcharge. They are lobbying the PSC to get rid of net metering every voting cycle.
Your rules may be different inside city limit but the only offgrid requirement in Orange county is mandatory form of wastewater treatment ie septic/sewer. There is no requirements to have an electrical connection.
You also missed that grid tied solar systems exceeding 10 kw backfeed require a $1 million bond policy (utility required) that almost negates your production savings with insurance cost.
Orange county resident. 3 years net zero on a 9.25 kw DIY rooftop install at $0.87/watt before tax credit.
This is excellent- thank you for sharing your detailed knowledge.
What is the peak kW (%) are you getting? Due to my roof (constraints), I'm getting about 70% of the rated maxium of the inverters/panels.
@@darwinjina My inverter is a SMA SunnyBoy 7.7kw connected to 9.25 kwp of panels on a south facing 5/12 pitch with slight shading 30-40 days either side of winter solstice. Have averaged 12.1 Mwh/year for 3 years. Napkin calculation on the design without shading issues was ~14 Mwh/year.
@@jstaffordii Thanks. Does the app display peak kW? I'm curious at the top of your daily curve at what is the number and how flat is it? For example, I would speculate it looks like bell curve with the top being a horizontal line. (Constrained by the inverter 7.7 kW)
@@darwinjina I only get the flat top (clipping at 7895 watts) about 10 days a year when its 60 degree temps and super sunny. Good day bell curve peaks are 6800-7400 average. Average days 5500-6000 peak.
Very informative . Listening from California
Thanks for watching! We realize the laws and benefits differ in each state. Hopefully the cost to install solar continues to come down as the energy costs rise.
@@OrlandoPropertyAdvisor , the cost of solar is not real coming down. These solar companies are here to rip us off. In fCt, the price has risen since I had my 1st estimate. Most videos I've watched is leaning me not to get panels. There's is more Cons than pros on getting Solar.
unless you stay in the house for 7-10 years and get the system price per watt under the national average. And if your house faces south roofline that helps.
Thanks guys, good information. In fact I am living close to your area, just right by Vista Lake area, so many people come to my house trying to sell me solar, I hope I get good deal in next year or so.
Yes there are so many factors to consider even which way your roof faces. Don’t pay more than $3 per watt finance price :)
Many, many years away a payoff may be seen to satisfy the investment. Until then it's just $$$ being spent differently.
If the technology can come down in price to $10k per system with easy install it would a lot more sense
I think this is a pretty good discussion for folks who basically don't have the skills to DIY a system for themselves. Notes:
1. I would avoid getting into a loan. You want to own the system when you go to sell the house
2. Battery backup can be very important. Your system is probably not going to work if the grid goes down.
3. If you do have some basic skills a DIY system with:
a. 10,000 Watts of panels
b. 13,000W of inverter power
c. 30kWh of battery backup (LiFePO4)
d. and a 9,500 W backup generator
can be done for around $16,000 in hardware (after rebate)
Thanks!
south facing roof facade where the panels mount to the roof trusses is ideal, on a newer roof so less changing out anytime soon. If only Amazon would get into the solar game maybe we can get to this pricing and it will be a no-brainer. Kinda like when tesla brought the price of the electric car down to a reasonable level.
What do you mean if grid goes down I get no power.. I have solar! During the night if necessary, you can use a 700 dollar generator to power your house. or I guess buy 10,000 dollars worth of batteries?
@@sofloemir Net metered systems with micro inverters are not going to work when the grid goes down. You need to have string inverters backed with batteries if you really want to be self reliant. Yes, a good backup generator will solve most of the problems your ever going to see (I have three of them). That's not a bad solution but battery backed solar is just better. That's because you will likely always have power no matter how long the grid is down whereas your generator will eventually run out of gas.
@Homestead Engineering it's just very expensive at the moment compared to a 700 dollar generator. It would be ideal, but not cost effective at the moment for me considering I've lost power for more than a day once in 8 years. Totally get it though, get good batteries and even at night you won't need anything from fpl.
@Homestead Engineering let me ask you this. Are you saying if grid goes down, and it's a nice and sunny day at noon, are you telling me my house won't have power? Or am I misunderstanding you.
The grid requirement is a state requirement.
Also, a major point that I didn't hear you address was return cost from the power companies. I live in Polk County with a Lakeland postal address. I use Withlacoochie electric co-op, and they have a dollar for dollar return rate. This means that they credit me a dollar for every dollar's-worth of electricity that I put back in the grid. So if I had solar, I could use whatever electricity I need at night, and then put it all back during the day, and all I have to pay is the $36/mo service fee. But if I lived in Lakeland proper, Lakeland Electric would pay me 4 CENTS on each dollar's-worth of electricity I put back in the grid. So to break even (and I'm sure THEY have a service fee too) I would need to return TWENTY FIVE kilowatt hours during the day for every ONE I use at night.
This is a pretty big deal and one you need to look into before getting solar. It might mean the difference between getting a battery backup (and don't say "well, I'll just do THAT", because the one I was quoted for my property was $300,000. Yeah, just for a battery system) or it might make the difference between getting solar or not getting it at all.
you're absolutely right- the net metering "rate of return" is key. I don't see OUC, Duke, or FPL offering dollar for dollar anywhere in FL. so that's one less thing to sell people on with selling power back to the electric companies. thanks for your input
Fantastic info guys, thank you!
Glad it was helpful!
Living in Lakeland FL and a 2000 square foot home my electric bill ( including water ) is only between 180 and 260 dollars based on temperature. This is an old house with original windows and doors not new energy efficient ones so solar does not make sense for me. But still a great video that confirmed my decision was wise.
I keep my AC at 72 and 74 downstairs/upstairs and have 4100 sq feet, pool pump, LED lights, energy efficient insulated 2021 build and it is still $350-$550 per month varies
These solar panel people remind me of time share sellers.
They are totally door to door sales with limited knowledge of the product- goal is to get homeowner sold on it and let the tech guys come and install, they take their cut and move on to next neighborhood to sell. Like any product do your research and probably the best deal is not from a door to door salesperson.
Imagine that politicians protecting power companies over their constituents
This video has aged well. Im seeing more stories on the news of homeowners wishing they knew the legacy costs of installing solar on their roof and carrying the debt. Still, when priced right and done right, and if you stay a long time in the home, solar can be a benefit in Florida.
Great post....learned alot....
Thanks for tuning in man! I'll have some more informative real estate-orlando related videos soon.
Without a comparison including batteries then you haven't given a complete picture. It's not about being off grid, it's about how long those batteries can power your home when the sun doesn't shine.
Batteries cost a lot. And how much power will be used from sundown to sun-up from the battery vs drawing from the grid... Will it completely change the payback period? Probably not. I just moved to Winter Park, FL and they don't even have a cheaper cost for kW at night (off-peak). kWH charge is 9 cents for the first 1000 and 13 cents thereafter.... Unless these systems cost $15k or less and you have no tree-cover blocking the panels, I just don't see how it is cost effective of a payback period.
So your neighbor didn’t seem to think the Powerwall was necessary bc power outages are rare, but how about for powering the house every day from dusk to dawn?
That is true- if you want to avoid using grid power at night you would need batteries. Maybe his lifestyle includes going To bed at dusk lol
well you sell your power to FPL (I dunno OUC or whatever it is there) and then buy it back. Think of it like a bank account. depositing then withdrawing for 1:1 cost.
I live in Florida in the south and tTesla won’t Install here have to go through a third party for the purchase.
Yes I think Tesla stopped direct installs shortly after this video/Vijay had his done. I wish smaller systems 10kW were about $10k installed. Then many people could afford some solar and not have the huge $50k price tag that doesn't make sense.
Great video! Huge fan. Just bought a model y after buying a home in east park after moving from NYC. I was heavily considering solar but wanted to double check the numbers. This was a gold mine. Is it true lake Nona and the airport shares the same elec grid?
Hey man welcome! Thanks and yes parts of 32827 especially have buried power lines and we never lost power in the last 3 hurricanes, some of 32832 side does as well. I have a listing coming up in east park, so if you know anyone that wants to be your neighbor, haha! as far as solar if you just got a new roof and it has a south facing facade on the rear, a $30k-$40k system with tax credit and stay in the home 8 years would make sense. lots of factors to consider
Awesome conversation
thanks man
how much is the monthly electric bill? my neighbor down the street regrets solar. the financing and utility bill was more than before the system was installed. this included having 1 million dollar liability insurance because it was a tier two system. they couldn't use the tax credit because it wasn't a refund and they didn't have enough tax liability to deduct the credit.
i'm planning on installing a ground mounted system.
I would say our current electric bill is about $500/mo in the summer and $300/mo in the winter. The best way to go solar is to buy a house with a paid off system already installed, and a newer roof underneath it. Short of that- sticking to a smaller, less expensive system and staying in your home for 8+ years will pay it back. For Ground mount, you would need "No HOA" because most neighborhoods prevent the look of ground mount solar.
Also, there are plenty of states where people pay more often than not pay more their first couple years for solar than electricity. The reason this makes sense is because not only did they know exactly what they were paying every month, but eventually electricity rates will hike while solar is a fixed bill.
Thanks solar salesperson
This is such B.S. 1st, panels start to product less over the years and they have to be cleaned regularly to get the most power. Then there is the issue of when the panels stop working and you fight with the company to for months until they show up. Then if you finance it get's even worse and most people don't qualify for a tax credit. There are stories after stories of people paying double and tipple of what they were paying before solar. While I'm pro solar, I'm not for ripping off people.
Every Videos on TH-cam are nothing but a hour long advertisement for a company business for all the solar panels or the realtor lawn mowing and computer repairs business company etc or whatever they are talking about in the video😢
So. Basically you are giving the bank money that you scecin your electric bill and giving it to the bank and then only have the panel working at night when sun down and charge during the day and then you have to still use your regular regular electric when it rains or snows covers the panels and your system is dead in a week sblw rain cloudy days storms how long does the battery lasts for a panels system
That's all good for those who can afford it, but for those who live check to check every month can't. I will gladly pay my electric company for my needs, which is not much any way.
The cost of just the panels alone, would take me twenty years to pay off. Of course you would need storage batteries, and charger controllers to complete the set up. That would take me another oh say 30 or so years, and I will be 118 years old by then.
agreed this technology needs to come down in price to make it viable payback period for most homeowners
That .11 cents from OUC include their fuel cost? I do not think so
The number is $.12 for the first 1,000 then it goes to a little over $.14
Isn’t the battery mainly to allow you to use the solar energy gained during the day for the night? Or to use battery during high price times?
At night yes. But as Vijay mentioned it won’t get cycled much
I have Geico for car insurance. I tried to get a quote on homeowners insurance in Florida, and they said they don't offer it. This gentleman claims he's got to go homeowners insurance? How's this possible? Because I want to bundle my insurance, and I'm not sure how he did it.
He already had umbrella policy at the time. Not sure why geico didn’t want to offer home insurance- but this shows you my point, not all insurance companies are quoting nowadays. I had progressive bundle and switched because the rate doubled for home insurance this past year
@@OrlandoPropertyAdvisor So you can agree that the lack of control over your insurance rate is why you switched? Insurance rates change every year for every company, they go up sometimes and they go down sometimes and not every company does it at the same time. Referencing to solar, if you could have an insurance rate that you knew what you were paying every month for 20+ years, that is the control people look for when going solar.
@@sethbruno4094 are you really trying to relate the cost of home insurance and industry rates to going solar to keep electric costs in check? Seriously people I am not against Solar and the concept of locking in the cost of energy as long as they stay put for 7-10 years to enjoy the benefit! And don’t expect homes to be worth $50k more because it has a system on it, that is all. Benefits must outweigh cost, not just to the original adopter of the technology but to future homeowners of that property that may need to take on debt or higher cost of roof replacement or home insurance cost.
Why does Florida require a connection to the grid? It is not just required in Orlando.
IPMC. Would love to see someone with a battery-backed system attempt to stay off grid but local municipalities reference the international property maintenance code and strong-arm people into having to be connected
@@OrlandoPropertyAdvisor Agreed
Your sound is excellent. What are you using for mic setup? Thanks for this video. I am afraid to look at my fpl bill for the month. Thought I might find some answers coming here.
Shure SM7B mic's with Cloudlifters through a Focusrite Scarlett 2i2 audio interface to Mac M1, capture through Ecamm live and streamdeck switcher ;)
@@OrlandoPropertyAdvisor Duly noted. Thanks for the detailed response.
thats weird, Im from Brooklyn and my electric per kilowatt was always cheaper.
What if you're installing a new roof prior to solar.
Then you wouldn’t have to worry about change out for about 15-20 years unless a roof leak happens due to a hurrricane or hail storm
How do you get that low price I just got a quote for 113 K
maybe because this quote was from over a year ago-- but please don't spend more than $50k on a solar system no matter how cool it is :)
How much did it increase his monthly insurance price?
great point- I was told by my insurance friends that people could see increases of $1000-$2000 depending on how old the roof is. And when the roof needs to be changed out, it can cost in the thousands to take the panels off and put them back on. These are the ugly truths about solar costs we aren't told about. thank you for watching
Here in NZ it cost me $7 more per year for my home insurance.
I understand that a solar loan is unsecured, but I have heard that you can refinance the mortgage and solar loan into one mortgage. Wouldn't that turn it into a secured loan with the solar panels included?
no, conventional mortgages don't allow combining solar panels into them.
As long as Vijay didn’t jack up his home price due to solar installation why wouldn’t the buyer inherit the loan? It’s approximately $250/month either towards the loan or to the utility either way.
Logically taking on a debt that reduces your electric bill significantly makes sense, all other things considered- if a buyer loves the house and this is just an extra hurdle they have to get through, I can see buyers not having an issue with it. But when the budget is already stretched to the max with 7% mortgage rates, then the buyer has to qualify for another credit debt, and they feel like they are taking on a decision that the past owner made... this is where deals fall apart or the seller gets forced to pay if off. Storey Park lake nona is a perfect example, many other realtors have commented that $550k houses with buyers at their max then having to take on solar debt can kill the deal.
@@OrlandoPropertyAdvisor Got it. Thanks for the prompt response. Much appreciated.
Nice job, sub
Thanks for the sub! we have a bunch of PArade of homes videos coming up. High end custom homes
I have yet to find a single Californian who saved any money by installing solar panel or solar roof. They all regret it and are paying high price every month.
the concept makes sense in sun belt states with more new construction coming with smaller 8kw-10kw systems "included" or with a solar lease. But time will tell when they have to re-roof or after a storm how it will impact the customer's bottom line, besides the energy cost savings per month.
If Florida laws get better
Then tell than
No
Off grid is the only way
I like to live close to the city and amenities though so i'll never be an off-grid type of guy
Batteries make a huge difference when (not if) net metering goes away. They failed to address that issue. If net metering goes away, their return will go severely down if they can't store energy and use it in their own house. Be wary of any solar system whose economics are tie to the existence of net metering. Florida almost lost net metering, passed the legislature and blocked by governor veto, but someday net metering WILL go away in Florida like it has in many other states.
great advice- batteries need to get cheaper though, both in EV cars as well as solar systems to justify the investment
Buying a $55K system without net metering is a loss, huge loss. The grid will power everything in the dark and everything over the panel output during the day, which means it gets only about 30% of your total load typically. You sell excess back at 25% or less. Net effect is your electric bill is now about 65% of what it would be without solar and the system doesn't pay off any more. The future of properly designed solar systems is on site storage and that's the only way to make it work with net metering going away. At the VERY LEAST, make sure your system can be upgraded to storage. If not, you will end up financially sunk with a system that won't pay back in any reasonable time.
shouldnt you also take into account the opportunity cost of spending the money on solar panels vs simply investing the money? why is it that people have these fancy spreadsheets with all the numbers but they forget to compare what their position would be if they had invested the money that they otherwise put into solar panels.
Financial advisor approach, I like it. recently with the volatility of the stock market, people might be more inclined to invest in other real estate, or if they intend to stay in their home for more than 8 years with a newer roof, go solar. Especially if they are charging multiple electric cars during the day or at night. All that being said, you are right if the investor gets even a 5% return over 8 years they can pay for whatever electric bills get thrown at them and then some. Hindsight 20-20 and it's similar to the argument of buying a toyota tacoma instead of a tesla because it will hold it's value better and cost less to operate over the long term, maybe even have fewer carbon credits... many ways to skin a cat
I live in Dr. Phillips and my roof is 6 years old. If we put in solar panels next year, will it not be cost efficient because we'll have to replace the roof in about 15 years otherwise we would get dumped by insurance and couldn't get new insurance, and then there would be a massive charge to take down and re-install the panels?
If you have a shingle roof you might need replaced in 9 years yes, since insurance companies jack up your rate when the roof is more than 15 years old, even if it is not leaking. Then you'd need to find a solar installer to take them off and re-install. Not sure how much that would cost but I'm guessing in the $3000 range at least, depending on how many panels and wiring, possibly more. These are the things people don't think about and it doesn't mean solar is not for you, but I'm glad you realize it prior to making a decision. Thanks for watching
@@OrlandoPropertyAdvisor thanks, then that would probably void the manufacturer's and installers warranty if I had to get another company to remove and reinstall it, so I think it's just not worth it now. Maybe when we replace the roof in 9 years we can get a solar roof or whatever the technology will be then.
Why are you forbidden to be off grid in Orlando????
That's a great question! Ask City of Orlando...
I’m in Orlando and just had a salesman knock on my door. It was a full discussion about God, the Nicola Tesla scandal, the countless inventors that are suicided, the racket of government, the maintenance costs of owning a home, EV car racket, and he left my home with a smile and questioning his choice in careers. We can sell them back on the racket this nonsense is. 😂😂😂
YES! I had a group of 4 young door knocker kids who know nothing about solar except a memorized pitch stand in front of my golf ball hitting net in my garage as I hit 9 irons and I made them do their pitch while wincing at each shot sound (the net is strong, they were not in danger). Poor door to door salespeople, there are better ways in 2023 to get a customer
Very informative! I'm in the market for going solar, question: Even though, your home needs to be connected to the grid, is it legal to use a transfer switch to use the batteries to some extent, and use the grid some portion of the day/night as necessary? or does that method count as some sort of the illegal "offgrid"? If you can only use the batteries strictly for power outages, then there's very little value on getting them.
To get C.O. Certificate of occupancy the building inspector is going to look at the configuration, and if you had a way to cut power from the grid they aren’t going to allow that. But if your household uses a lot of kW, having batteries for evening use and charging of electric vehicles could make sense.
The solar batteries as power back up do not last long, and the batteries DO wear out. Get a gas or propane generator instead.
The utility requires a disconnect lol 😆 so yes you can disconnect
And you can go offgrid
Just don't pay your power bill and they will happily disconnect you from their grid. Poof your now "off-grid" BTW I live off grid full time in Avon Park fl no problems.
No meter on my property.
What will a customer pay the utility company with a modest 3% rate of inflation over 20-25 year span vs having solar panels at a fixed monthly cost? I guess people should be ok with renting power for homes they own forever 🤔🤔. Making the utility companies richer seems to be the solution
when it costs $4k to remove panels when re-roofing, on top of the cost of the system, does it really profit?
@OrlandoPropertyAdvisor Some companies don't charge to remove panels if you buy panels with said company and go through them for roof work at cost. Also, let's not chase the rabbit(roof work) here but rather keep our focus on the wolf(Utility company) in plain sight. I would never advocate for someone paying for a bill that only expires at your death. Do the numbers on an average family's lifetime electricity cost with a modest rate of inflation and compare it to a new roof and solar???? Or better yet approach the families who have gone solar and see if you can interest them in another lifetime inflating electricity bill. Common sense seems not to be as common as one would expect ehh 🤔
@OrlandoPropertyAdvisor Show the people the difference between 4k for panel removal vs no solar and an additional 100k+ over the next 25 years in electricity cost. Inflation is real buddy! Corporate greed is real also sir! Ray Charles can see solar is the better option by a country mile. Why own your house and rent the power at an over-inflated cost? I guess you would support lifetime mortgages at inflated interest rates yearly too huh?? Solar can lower the operating cost of anyone's home. This is the message that people should be hearing from you and not some straw argument about a roof lol.
what if they move in 7-10 years like the average person? Have you seen insurance rates with solar on the roof? it's at least 20% more per year to insure. What if Said Company goes out of business or no longer provides in florida (which many have). The electric car debate is the same. Save on gas but pay higher cost of initial investment, insurance, potential repair cost, batteries replacement, etc. Ultimately it comes down to if they WANT solar and their own perosnal choice to stay in the home long enough to justify the return. Why Refinance a loan if you're going to sell it in 2 years? You have to stay to justify the payback period. @@Theking42427
@OrlandoPropertyAdvisor An attachment to the outside of your home is covered by most insurance companies. I'm baffled as to why something that lowers a home's operating expense would not be covered by insurance. If the insurance company drops the customer it would take minutes not hours to find a more than suitable replacement. If a family moves in 7-10 years and has paid the panels down at a "fixed" inflation-proof cost ask yourself this simple question, sir. Are solar panels cheaper at a set price and with an end date to eliminate most of the electricity bill versus starting fresh with no panels and paying until you die or sell the home? I'll take the panels and pay for something that will help keep my operating costs in check. Oh and if the 2nd family pays the panels off they can sell a home with paid-for solar and benefit from the initial buyers being able to see the forest for the trees.
Are these actual KW's that the panels produced or is it expected #,s? Is his payment higher than what he would pay the electric company for the same amount of KW? Did I get this right? How do you wash them panels?
He had just installed his system and for the month prior, it produced that many kW's. But because of the cost of electricity at the time and his loan payment, it was about the same cost. If we were to look at the cost of energy now and his average monthly production of the panels, it would probably be more favorable in the "own solar" conversation.
@@OrlandoPropertyAdvisor What was his production #'s in Jan. There is no way I could get that power from them in Pa. I am 15-20% below rated specs in ideal conditions. I have rea that in high heat in Fla. they can degrade 2-3% a year
it was in July I believe. True, in the winter here unless you have a south-facing 45 degree angle roof, you aren't getting that production in January.
Weird comments, solar is only about 22 percent efficient, the system at 14Kwh only produce when it is daylight, most will need batteries or if lucky can sell excess to PUC and get it back when needed, most places still pay quite a bit in that exchange...many systems also have hardware limiting the actual size of the capture the panels have to be balanced with the right size connecting hardware and beware of anything interfering with the PVs most panels only last about 10 years and slowly reduce generation over time due to degradation...PPE or loans to put in have all kinds of contractual issue, don't trust the companies have a legal person look them over for termination and other issues
all good points. best to watch some videos of people who show their own panels' actual output 5-10 years later and use today's cost of install/loans
It’s all a big scam. Shameful people.
Rule #1 Never ever buy solar from a door to door unsolicited sales person.
High quality solar companies don't need comissioned lead generators. They are usually about $1500 of additional middleman expense to the job.
Word of mouth referrals from prior customers and great reviews get them more business then they can handle.
are there any Central florida based solar companies you would recommend people get quotes from? you can DM me if you prefer, i'm always keeping a list of vendors to recommend to clients
Solar panels, one more headache
I drove through a really poor neighborhood and unfortunately almost every house has solar panels. All I could think about is a sales guy took advantage of uneducated people living there.
yeah and roofs probably need replaced soon. sorry to hear
Leased solar is a rippoff
I agree. although OUC's electric rates have gone up since making this video, so Vijay's $250/mo loan payment looks pretty darn good right now
@@OrlandoPropertyAdvisor have you factored in the new technology coming? Lol
If I could factor in everything, I wouldn't be doing real estate, i'd be a billionaire :)
Womp womp Tesla's not even in FL anymore
Yeah I just saw that on their website- Supply chain issues? More like lack of profit. All the more reason for local companies to shine (no pun intended) and offer better service and lower price per watt.
@@OrlandoPropertyAdvisor I think it's because they're too invested in places to sell their batteries, and FL's weather messes them up.
I want my Cybertruck! been waiting for 3 years lol
More a pain in the ass having solar no solar ....no solar thanks but no thanks is a scam.period.
Literally electricity rates got raised 10% and it’s gonna get raised another 20% in Tampa starting in April. This is all so false. It just seems like you have something against solar in my opinion. You can stay paying 600 for your electricity bill. That’s your problem, but solar really helped me out in Tampa.
Duke energy just raised rates by 4% for the next 21 months. I have nothing against Solar if you plan to stay in your home for 7 years and if other factors covered here make sense for the roofline and budget. Thanks for watching
There are so many things that are incorrect about this video. 1.9 percent raise for electric company rates. Just not true. Please do your research
we did a lot of research, breaking down vijay's numbers vs the more expensive plan I was pitched, and looking at many customer's i've sold houses for that have panels. Electric rates are rising, party due to the cost of natural gas and the war in ukraine, inflation.... but over the last 10 years they have remained relatively flat- and were due for a rise. average annual rate increase over a long period of time is indeed 2% oneenergy.com/wp-content/uploads/2020/06/Florida-FL.pdf
@@OrlandoPropertyAdvisor I'm no mathematician, but on the link you provided, it says 1999 rate is 6 cents, then 2018 9.2 cents and predicted 2038 is 13.6 cents. with some years going up over 10%. so, it's going up 2% roughly every year. will my solar panel payments (or cash if I do it) go up 2% every year?
school us, Jessica
So he pays $45 MORE per month using solar? How is that saving money?
Exactly. Payback period is long, and then you need to convince a buyer to pay more for the house with a paid off system. then pay to remove the panels when you get a new roof and put them back.
@@OrlandoPropertyAdvisor excellent video by the way!!👍
those solar sales people almost sold me ;)
We pay 158 a month. No electric bill. It’s worth it for us. Plus energy cost will be almost a house payment in a few years.
Geico hime insurance???? bruh, xou basically have no insurance yiu are on your own with those pannels..
Farmer's Insurance Left the state of Florida recently. And many of our policies doubled or tripled, due to home value increase, labor shortage, materials increase, etc. I'm sure Vijay will be fine but it is important for people to understand many of these Homeowners are getting raped with $4500+ per year home insurance rates on basically new homes
I live in miami……i have been through 4 hurricanes in 28 years……..lost power 2days, 3days & 4days……. I was lucky!! I had friends in broward who lost power for over 2 weeks….. but thank you for informing me….of the need for the battery……..i may not need that at all!
Insurance cost 💲 is the new elephant in the equation, especially with an older roof. I got a quote from a roofer to remove and replace the panels on a smaller home was $3500
Shoutout to the ones giving good info on solar in Florida
And the cost of electricity is more than .15 cents per kWh now…. But it’s still to expensive to justify a system of $50k… we need Elon musk to bring the cost down via mass production so an entire system is $5k-$10k and produces 80% of your electric bill and lasts 10-15 years
Agreed. I dont see purchases making sense anytime soon however. Not until a robot is installing it. The lease does make sense, the agreements should be for shorter amounts of time perhaps but it's just a way to finance without making people take the loan and the company takes the loan instead.
Really good discussion and lot of good scenarios covered. very informative..
As the cost of energy rises, and if the roof lines are optimal, and if you plan to stay in your home more than 7 years, Solar makes more and more sense.
Interesting video. But I think it’s important to note that solar today is not meant to be an investment like it once was. You used to HAVE to pay up front, and would accept a return of investment period of 8-12 years. Today, all solar is is an addition to lock in all or as much of your electricity rate as possible to combat yearly rate hikes.
Whether you care more about price overall than warranties or company stability, that is up to each different homeowner and their situation.
But solar today if done right does not cost you anything up front, all it does is lock in your rate. EVEN if you have to pay a little more your first year or a few, you will always save in the end as these are 25 year panels most of the time. By that time, who knows what electricity rates will be, but they will be more than the rate you originally locked in at.
Also you mention that rates have only gone up for electricity at 1.9% inflation rate per year. Does this include general rate increases, or are you only referencing inflation?
Again I found the video very interesting and it was a good debate. Solar does not work on every house, but I do believe many people have the wrong idea about solar.
Thanks solar salesperson
The challenge with insurance companies in Florida cancelling people who install solar panels is houses that have systems that are more than 10 Kw have increased liability. This guy’s 14 Kw system is above that threshold. If you get a system that’s below that threshold you won’t have issues with your homeowners insurance.
Yep the $1M liability for grid connection can kill the profit
Tier 2 premium upgrade (for over 10kw) is around $700-1000 per year. Not sure if citizens covers it though. Would that amount be a deal breaker?
Tesla Solar worst customer service ever. It is hard to get in touch with anyone and when you do, it is months before you get anyone out if they actually make it without rescheduling.
Thanks for sharing so other people can know what it's really like in 2024
I would also add that the down payment (out of pocket cost) of $3,355 is more like $6,600 assuming you invested the money over 10 years and earned 7%. So I would add the opportunity cost of $3,245 and then recalculate.
We might never see the interest rate Vijay got again. It's funny how there are less solar sales people door-knocking now. All that being said, I hope people that want solar can find a great deal on install cost, low loan cost, and pay it off before selling the home :)
Very nice presentation, with one caveat; many of the US energy producers have now adopted Time of Use electric rates, with many more to follow. During high power demand periods ( typically noon until 7 pm) the Kwh rates jump to triple/quadruple normal rates. Most utilities track if your PV system produces excess energy, and credit you an equal amount to offset your monthly consumption. Net metering has gone away, but this can save you a lot of money if you can store excess energy in your batteries during the day, and use it to charge your EV , or to offset your consumption, during high-priced periods of the day. So, energy storage should really be part of the equation for folks to consider, even if they don't have an EV. Negawatts are great, but shifting consumption to off-peak periods wii become the next big thing.
Good job guys.
Steve
I don't think OUC or DUKE energy (FPL) have variable rates, but I could be wrong. And Net Metering is still in effect but it is not 1 to 1. I think if the batteries can last 10 years without losing their efficiency along the way you are correct indeed it is the ability to shift the power on cloudy days or to the evening that can reduce the bill more so than just system size. and staying in the home for 7-10 years for payback.
You should have also yake into account the cost for them to take them down to repair ir replace the roof. Then the cost for them to reinstall them. You lose a lot of money. My friend had to pay about $35,000 to have them taken down and reinstalled to replace the roof. Solar panels are not worth it.
Exactly. Thank you for adding this- people do not think about that until their roof is un-insurable 15-20 years old.
Great effort, good job putting this together, however the math isn’t being done correctly.
BJs OUC pricing is way off. And don’t get me started with the “stats” of rising costs of utility. It is absolutely wrong. (4 years as a utility contractor and 2+ years as a solar contractor)
Trending over 10% year over year!
Also, the assumption of “having to pay off the system” is subject to many many factors. Obviously salespeople claim the world for a sale, but my “debt” is already trending nearly 5% less than utility rates. And my system is only a year old. That’s at a 2.9 with batteries.
AND that solar quote you received is absolutely over built and over priced.
As both a south Florida local and living in orlando myself, I can assure you with proper math, including every variable discussed, the math is always going to play out in the homeowners favor, as long as sales person is ethical. 100% strong points, however there’s much more than meets the eye. Especially with grid-tied solar.
Again, excellent efforts, however a handful of the math needs to be clarified and accurate. Google searching averages isn’t true-to-spec for that zip code. I wish it was that easy!
Thank you for your expert local insight, yes I do see the rising cost affecting some families and when paired with an ethical salesperson it can work out for those who stay for 7+ years. The value of the system at time of sale even when paid off though to the next homeowner I have seen time and time again many do not appreciate it like the current homeowner does. However In newer neighborhoods you are seeing more and more solar, so it could become the norm on 50% of sales, and we as realtors need to know the real cost of these systems to explain the benefits vs debt repayment (or not) to the next buyer making the offer. When the next time comes for that scenario I’ll have your advice to help make the sale! Thank you again
Don't call it a rebate, it's a tax credit, you will not get a check, if, as in my case being retired and living on social security only I have no tax liability. There would be no credit unless in the future I owe any taxes the credit will cover it up to the aloud credit.
Good point- better question for tax attorney or CPA on best way to structure title/ownership of the home prior to applying for solar tax credit
Curious, does Citizens Insurance balk at solar panel home policies? What about those with Tesla solar roof?
Farmers left the state of FL... and if the roof is 15 years old, it is very difficult to get insurance period. Then there is the $1M liability when connecting to the grid that can double your policy. Tesla solar roof was being offered in nearby sunbridge saint cloud, but then put on hold. $150k quote for that roof.
@@OrlandoPropertyAdvisor Good info, thanks! With a 24 year old asphalt shingle roof, I'm looking at a replacement soon and was considering Tesla Solar Roof. The price hikes and install debacles have cooled my interest, however.
Great video!! What do you guys think about renting the panels? I don't need to worry about upfront cost and repairs (sure no tax benefits, I'm more about saving mostly energy cost)
depends on how long you plan to stay in the home and the ramifications of trying to sell your house with a system that has a lease payment they need to take over. Like In Storey Park lake nona area 32832.
@@OrlandoPropertyAdvisor Thanks for the reply! I just bought my first home last October. I don't plan on moving or leaving anytime soon. I guess it depends how long the rental contract is. I'm located in Tampa... Not to far away 😊
Great information, Qq could you have separate insurance company from your home insurance with solar?
It depends on if the system is connected to the grid, for net metering, which most are- this is where you need the $1M liability insurance on the system as well as the fact the home insurance primary will be affected due to panels screwed into the roof and when replacing the roof it will cost more to take them off and put back on- but as Vijay mentioned he already had ample coverage with geico. There are carriers/brokers that can structure the policy the best way. I use Andrew Harrell from Harrell insurance agency here in Saint Cloud Florida to shop around for clients.
Good information. Thanks!
Glad it was helpful!
So what is his monthly electric bill? Did I miss this?
After the system was installed that is..
I believe he was showing $245/mo for the kW hour usage, which was less than what his financing charge is. However OUC charges a grid connection fee so there is no $0 electric bill, and in the winter his panels won’t produce enough to cover the power bill entirely.
We got a 30 year loan. 42,000 system. The panels are insured and probably will outlast my life. I pay less a month compared to an electric bill. I sell the extra to my electric company. And I got 6,000 back in cash on what they call a tax credit. Will get another 6,000 back next year. So happy I got my system cheaper than the naysayers who will be getting it sooner or later. Because the electric bills will be out of reach for many families. I suggest getting a system before 2023 ends.
what if you move in 2 years. how much will the system debt be then, and what do you think a buyer is willing to pay for the home at that time. What about in 5 years? I agree solar has its benefits when you get the system at the right cost, and the financing at the right cost. and have net metering. and have your roofline facing south for highest efficiency. fuel costs are indeed going up. But everyone's situation is different and they need to take all these things into account before making a large financial decision with their largest real estate asset. I will probably go solar myself on my next home, if the right circumstances present themselves.
@@OrlandoPropertyAdvisor definitely not for everyone. I personally am not moving again. But if I did want to sell. I won’t deal with an agent that can’t sell it to a new buyer. You also have to have the correct layout for solar. And companies that don’t send an engineer out. I wouldn’t deal with them.
@@OrlandoPropertyAdvisor I don’t speak for all companies, but the company I represent offers a transfer of service guarantee. The next homeowner qualifies without even a credit check, and was made to be a smooth process with moving in mind. Yes they take on a larger debt when buying the home because the system will add to that, but they’re just taking over the contract where it was left off… with the rate the original homeowner locked in at. The point of solar is not immediate savings, it’s to lock in as much of your rate to have control over rate increases. The sooner you go solar, the lower rate you lock in at because the utility companies will always have larger increase than your solar payment interest.
@@sethbruno4094 yep, look up Storey Park lake Nona 32832. Every house has solar and debt, buyers must take over the debt when the sale happens. Even if the home appraised for less than contract price. As the numbers tighten to obtain the house itself, buyers care less and less about the $300 electric bill savings. I applaud the homeowners that pay off the debt when selling for a clean transaction and the next Honeowner is super happy with no electric bill. But yes the transfer of debt happens a lot in that neighborhood, and home shoppers need to understand the actual monthly cost of HOA, taxes, Solar debt payback period to stay in affordability range with their mortgage lenders.
We have been looking into solar panels for our house. But I’m trying to find a company that can put it on the property and not on the roof. Florida is a tropical region and solar panels are not good for the roof besides it voids roof warranty! We want solar, but we want freestanding.. very hard to find a company that can do this efficiently cost wise
Hmmm I saw a house with a panel on 45 degree metal brackets in the yard, this was a No HOA area and they had space to put it there, and run all the electrical to the house/batteries/generators.
I install ground mounts but I don't travel very far I'm in Avon Park.
You would be looking at around $2.90 a watt. I have Been in solar since 2008
Can you go over leasing a system?
Prices and terms vary but basically you're paying $250 a month to the solar lease and have to qualify on credit, this offsets your electric bill somewhat but you never end up paying it off. The next buyer coming in has to qualify on credit and assume the lease. Not sure who covers replacement or removal of panels if the roof has to be swapped out
If your insurance company won’t cover you. Get a real company to insure you. I do t do business with people who don’t even understand their own business. SMH!
Is he from Trinidad
Vijay? I’m not sure but i don’t think so
That was complicated and fussy. If you can make a kWh for 3 or 4 cents, and your utility is charging you 11 cents in after-tax dollars, it's a no-brainer TODAY. Utility rates double about every 10 years, and then double again and again while your PV is fixed. Plus, the Tesla driving cost is 1-2 cents/mile vs ICE vehicles that cost 20 or 30 or 40 cents/mile (plus all that maintenance, fluids and more) from the convenience of your home, AND you don't have to touch that germ covered gas pump. Best Investment you can make is energy efficiency, by far! That way you can save on wasted energy and wasted PV cost and financing and all the stuff you talked about.
Right. What if you move in 5 years?
@@OrlandoPropertyAdvisor Think long-term. The house has solar (PV). Maybe it has no utility bill, no fuel bill for your cars. You are your own power company. If you did some energy efficiency, it's more comfortable, healthier, quieter and it will sell for more. Plus you got tax credits and other incentives. Same Net Cost or less for both you and your buyer. It's an upward spiral instead of a downward spiral. Now you're thinkin'.
@@DK-vx5co I agree with your statement if the system cost was less than $50k and is at least halfway paid off, I can market the home at a higher price per square foot than the same exact floorplan down the street... however it will take finding the right buyer who values this system. Not every house is meant for the solar upgrade, is the point i'm trying to make.
@@JustinPekarek-em4js Agreed. It's the same with a pool, a second floor, a house that needs a roof, or a home with only a 2-car garage. $50K sound like an insane amount for PV. Is the house 15-20 degrees hotter upstairs? That's an energy efficiency problem. Over-buying PV for an inefficient home is like buying the jumbo size of toilet paper and tossing most of it out the window in a giddy, hysterical ride home. Some people just don't care or they don't have good information. For instance, how many Net Zero Energy homes do you know of or sell? Some people will ride their horse to work and shovel manure on the weekends. Maybe their grampa and his grampa rode horses and loved them. Horses for transportation worked for thousands of years, but then we came up with a more intelligent solution. Same with PV.
@@DK-vx5co I have filmed and helped customers build ICF net zero homes. In Laureate park where this video was filmed and focused on for comparison, our homes are quite energy efficient. to reiterate, solar can be a smart investment if the right set of circumstances apply to said homeowner, and all I ask is that they think about the exit strategy, even if they plan to stay in the home for more than 7 years. thank you again for your insight and comments.
$500 to $1200/month for electricity!? Holy shit. My 2300ft² house in Texas averages $80/month with no solar.
aha, I see you live in the most efficient house ever :) in January/feb here we don't use the AC as much so the bill is $100-$150 that month at least
Lakeland Electric will force you into Time OF Day billing if you go solar which is a deal killer because your high electric use is after the sun goes down (mostly) and your electricity cost almost doubles. You will have to pay big bucks for batteries to shift your solar electric availability back 4 hours. Good luck trying to compete with your electric company once they go solar too.
ugh that stinks. Corporate grid always winning
Solar is for control. You know what you’re paying for however long your term is, and God knows what electricity rates will be. Looking at rate increases in the past though, and knowing rates will keep increasing, solar is always a good idea if it locks in your rate at a fixed rate. Unless you have a giant tree over your roof or too low of credit or just THAT low of a power bill, solar is almost always going to save you money in the end, and it will always give you more control over your bill.
Thanks solar salesperson
You're forgetting about lender fees. It's not just about interest rate. The 8 percent interest rates have 0 lender fees and u can pay them off sooner
the financing in general had a lot of padding from what I understand. the sales rep even told me he has a "red line" where he can quote higher to make more money up front, which is sad really. no matter who you go with or which financing, it needs to make sense for a 6-7 year payback period and preferably on a newer roof when installed
Question for Vijay, how long did it take from the day you signed a contract to the time Tesla installed on your roof?
Vijay liked the fact that Tesla did not ask for any monies up front. He said it was pretty fast to get the install going. As far as hooking it up to the grid he did not pay until it was hooked up.
Great vid, Can you please share the spreadsheet you used 🙏🏽
Vijay's numbers I had just put on a simple xcel sheet- I don't have an accurate sheet showing kwH prices and current install prices
Cost per watt is all that matters once installed.
And hopefully Florida doesn’t get rid of 1:1 net metering
Wrong
@@OrlandoPropertyAdvisor We're in the clear for now, but we all know eventually they will win. Hopefully by then battery tech will improve enough to have more affordable batteries for night time.
@@johnjohnstone5206 exactly. People don’t buy the cheapest house made with the cheapest material, why would you want the cheapest equipment to be installed on your home? You wouldn’t…. Unless you want to deal with 6 month maintenance waiting times and faulty systems
Great video and really good to see some actual numbers.
A nearby seller of a $2MM home just put an $85k system on his roof, then got relocated to Australia. He will be paying off the loan before closing with the proceeds of sale. Next homeowner will get the benefit of $0 electric bills. Best way to get solar!