LostSoul5
LostSoul5 t1_jd3ru39 wrote
Probably the biggest thing to watch out for is getting locked into a solar lease. If possible buy your solar PV equipment outright. Solar leases come with penalties for early termination. I work in the solar industry, in the training sector and write to a global audience on everything solar PV. It would be a conflict of interest to recommend specific companies. It's best to gather 3-5 quotes from large to small solar companies for the best balance of customer service and cost. Energysage is trusted by many Redditors to compare solar quotes by location, get $25 off by clicking this link. For another option in gathering solar quotes, EnergyPal helps to leave the final decision of the solar company selected, totally in your hands. Get a $500 gift card from them by using the link mentioned. Always ask these questions of any solar installer when gathering your quotes :
Are you approved, licensed and insured to operate in my state/county/city?
Ask for their license and policy number and verify that it’s in good standing with the appropriate licensing board and insurance providers.
Is my roof a good fit for a solar PV array?
Realistically, most solar panels can be arranged to capture the greatest amount of energy with adjustable racking technology and other assessment tools. In the end, some homes will have better solar coverage of their roof over others. Using a tool like Project Sunroof can help you assess on your own and without a salesperson. If your roof is covered in shade by large trees or a nearby building, north facing or in poor condition it may be not suitable for solar installation. Installing a new roof and solar system at the same time can be a cost effective way to combat climate change and lower your carbon footprint.
What happens if I want to sell my property or move out?
Look for specifics in your contract and ask for them to be explicitly noted. If there are any penalties or fees you’ll see them here. Another important point is the ability to move out of the property and rent it to tenants. In this case, the options should be stated as applicable. Perhaps you wish to have your tenant pay the electric bill but you wish to continue with the financing payments for the PV system. Learn all of these details up front and from the contract’s top to bottom.
Do you use contractors to install the equipment?
Using a third party contractor can bring opportunity for uncertified or unlicensed/uninsured workers on your property.
What type of warranty does the system and install come with?
Warranties and guarantees can vary greatly. They can exclude certain components and not provide a point of contact should something go wrong. Get as many details in writing as possible before signing a contract.
What is your estimated timeline for project completion?
Timelines can vary greatly and can influence total cost. Watch out for the estimated timeline and that it works with your schedule.
Can you provide the total cost of the system to me in digital or paper format?
If you are looking to finance or lease your system ask about any required down payment and how much monthly payments will be. Any state/federal/provincial tax credits/benefits should also be detailed here. We strongly advise readers to own their equipment outright to avoid any additional hidden costs or penalties/fees should they want to exit the contract or sell their property.
https://ecotechtraining.com/blog/how-to-find-a-solar-installer/
There is also more information on finding the best solar installer in the link mentioned.
LostSoul5 t1_j70u151 wrote
Reply to Solar on Row house / Townhouse / Brownstone by ffejie
This question is asked often in the NJ sub. If you search you’ll find posts like this:
LostSoul5 t1_j2sq6hj wrote
Reply to Solar providers recommendations? by TechNicolas
You're right to stay away from the door knocking salespeople. For anything these days! The time to go solar is good but there could be future incentives coming for MA. To search for clean energy incentives by ZIP use dsireusa.org and here is a helpful infographic breaking down the solar tax credit which is part of the inflation reduction act:
Probably the biggest thing to watch out for is getting locked into a solar lease. If possible buy your solar PV equipment outright. Solar leases come with penalties for early termination. I work in the solar industry, in the training sector and write to a global audience on everything solar PV. It would be a conflict of interest to recommend specific companies. It's best to gather 3-5 quotes from large to small solar companies for the best balance of customer service and cost. Energysage is trusted by many Redditors to compare solar quotes by location, get $25 off by clicking this link. For another option in gathering solar quotes, EnergyPal helps to leave the final decision of the solar company selected, totally in your hands. Get a $500 gift card from them by using the link mentioned. Always ask these questions of any solar installer when gathering your quotes :
Are you approved, licensed and insured to operate in my state/county/city?
Ask for their license and policy number and verify that it’s in good standing with the appropriate licensing board and insurance providers.
Is my roof a good fit for a solar PV array?
Realistically, most solar panels can be arranged to capture the greatest amount of energy with adjustable racking technology and other assessment tools. In the end, some homes will have better solar coverage of their roof over others. Using a tool like Project Sunroof can help you assess on your own and without a salesperson. If your roof is covered in shade by large trees or a nearby building, north facing or in poor condition it may be not suitable for solar installation. Installing a new roof and solar system at the same time can be a cost effective way to combat climate change and lower your carbon footprint.
What happens if I want to sell my property or move out?
Look for specifics in your contract and ask for them to be explicitly noted. If there are any penalties or fees you’ll see them here. Another important point is the ability to move out of the property and rent it to tenants. In this case, the options should be stated as applicable. Perhaps you wish to have your tenant pay the electric bill but you wish to continue with the financing payments for the PV system. Learn all of these details up front and from the contract’s top to bottom.
Do you use contractors to install the equipment?
Using a third party contractor can bring opportunity for uncertified or unlicensed/uninsured workers on your property.
What type of warranty does the system and install come with?
Warranties and guarantees can vary greatly. They can exclude certain components and not provide a point of contact should something go wrong. Get as many details in writing as possible before signing a contract.
What is your estimated timeline for project completion?
Timelines can vary greatly and can influence total cost. Watch out for the estimated timeline and that it works with your schedule.
Can you provide the total cost of the system to me in digital or paper format?
If you are looking to finance or lease your system ask about any required down payment and how much monthly payments will be. Any state/federal/provincial tax credits/benefits should also be detailed here. We strongly advise readers to own their equipment outright to avoid any additional hidden costs or penalties/fees should they want to exit the contract or sell their property.
https://ecotechtraining.com/blog/how-to-find-a-solar-installer/
There is also more information on finding the best solar installer in the link mentioned.
LostSoul5 t1_iyekfgf wrote
Reply to With the cost of electricity going up more people are talking about solar so I thought I'd post about its effect on real estate by CTRealtorCarl
Great post from a realtor's perspective OP!
>Use your solar audit to figure out when your break-even point should be. For example, if your typical electricity bill is $300 a month prior to solar, and you expect to save 50% that equals $150 per month in savings. If your system paid in full with interest costs $35k its going to take a little over 19 years to start capitalizing on the savings.
You should have ended this section at Use your solar audit to figure out when your break-even point should be It's difficult to make a blanket statement like this on payback period as there are many factors at play. This would deter most who are considering solar to walk away. Many will oversize their system these days to the maximum allowable size to lower their payback period. There are too many factors at play to generalize about this, and you are correct in saying the solar audit is key before moving forward.
Solar leases work for very few and generally come with crippling terms and conditions to end or transfer the lease. If at all possible, always buy outright. There are significant savings when buying outright over financing.
Your tips for homebuyers and sellers are helpful in RE transactions that have solar panels on the property.
Truthfully without even touching on the incentives out there, your post would dissuade many from going solar. Incentives for clean energy generation can be found by zip at dsireusa.org and this helpful infographic breaks down the solar tax credit, but keep in mind that the 10% bonus for domestic equipment is for commercial solar projects:
If you are considering solar, have a read through this post:
There are many helpful tips that go beyond examination from a real estate perspective, and they dovetail nicely with this post.
LostSoul5 t1_jd44qwk wrote
Reply to comment by Chrome2279 in Looking for company suggestions for putting solar panels on my home. by Chrome2279
I hope it helps with your research and to avoid some of the bad solar companies out there. All the best!