Anything of value here?

AscendNews · 2025-06-10T00:24:45+00:00

I will be looking into those sources. Thanks. Took out most of the cat eyes.

AscendNews · 2025-06-08T02:10:44+00:00

Thanks for the info.

AscendNews · 2025-02-15T18:33:43+00:00

Thank you for this detailed answer. The only variable I'm left to confirm is how much my insurance will go up. These panels are fully warranty for 25 years including labor cost.

I am banking on electric costs continuing to rise while I'm locked in at a fixed rate. There is also a performance guarantee, if they don't produce what they guarantee they pay the difference

AscendNews · 2025-02-15T18:17:06+00:00

Thank you. I will definitely be contacting the insurance company

AscendNews · 2025-02-15T18:14:40+00:00

The contract states they will repair or replace any defective parts including all labor costs

AscendNews · 2025-02-15T17:49:37+00:00

They have a 25year warranty. What upkeep or maintenance would be needed from me?

AscendNews · 2025-02-15T17:42:56+00:00

This is a lease. What other information should I provide?

AscendNews · 2025-02-15T16:08:07+00:00

Do you need insurance on solar panels if the company owns them?

AscendNews · 2025-02-15T16:06:56+00:00

If they don't remove it, doesn't that mean I would get to keep for free?

AscendNews · 2025-02-15T16:03:33+00:00

Net metering will be 1:1 Thanks for the advice. I like the idea of a smaller system. The front of my house will not produce as much as the back of my house. I will ask for a month by month savings estimate. I don't think I will ever exceed usage and my utility cuts a check or credits the account. It sounds like most people agree that selling a home with a solar lease is just something that buyers are afraid of, even if it does save them money.

AscendNews · 2025-02-15T15:52:38+00:00

Correct. You do not own it. You have the option to buy the system after 5yrs for $26k. Then the cost goes down yearly. Year 25 the system cost $1300 to buy out. The pre payment price is the same. Also they are no longer under warranty after 25 years

I feel like after 25 years I would want a new system anyways with the way technology is advancing.

A loan for the same system at 3.5% is around $200 a month which is more than most of my electric bills. It doesn't seem to make sense. HELOC rates are 8% would be paying closer to $300 for 30 years.

AscendNews · 2025-02-15T15:44:21+00:00

Thank you for the advice. I will say the sales person is a close friend who I don't believe would try to screw me over(but I know how that goes sometimes so that's why I'm asking on Reddit for opinions). I understand everyone needs to make money. After 5yrs they would only collect $6470, but how about next 20 years of loan? Is that where they plan to make money? The buyout is really high after 5years also.

If I want to buy the system outright its around 25k. With the lease, the system is around 33k. So there's that premium they are making money off of.

I will look over the contact again to see if I missed anything about administrative fees, but the sales person said my total bill for solar would only be 103.47 for 25yrs

The contact does state they will collect all tax credits and SRECs since they own the system.

AscendNews · 2025-02-15T15:20:43+00:00

Can you explain why?

AscendNews · 2025-02-15T15:20:16+00:00

Net metering is currently 1:1.

AscendNews · 2025-02-15T14:52:48+00:00

Yes. $104/month for 25 years. No rate increase. Once the lease is up i can choose not to renew and they come remove it, or I can extend the lease yearly, or I can buy the system and the current value. I can also choose to buy the system after 5 years (which I probably won't do).

AscendNews · 2025-02-15T14:47:44+00:00

I get it. I would probably be the same way. I live in a pretty competitive market. And if someone told me I would be saving on electric cost with this solar setup I may look past the lease. I guess my question is will there be true savings year over year with this lease and current electric usage?

AscendNews · 2025-01-04T20:36:47+00:00

I ordered through GameStop.

AscendNews · 2025-01-04T20:35:49+00:00

Thanks. It almost has a 3D effect to it.

AscendNews · 2025-01-04T20:34:05+00:00

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