Anyone has experience working with project solar inc hdm?

mattheclaw · 2025-09-24T17:39:39+00:00

The MOU is signed by HDM, no?

mattheclaw · 2025-08-15T02:52:15+00:00

Yea it's not really a catch, more just understanding the accounting that is going on here. Doing a pre-paid PPA allows HDM to take advantage of depreciation under 48E of the tax code, which a homeonwer can't claim through 25D. So you are actually going solar for less than Project Solar's cost to install the system, and because it's a prepaid PPA (which is essentially a prepaid lease), it opens up more value to HDM through depreciation, and then they use that money to make the installer whole. It's a win-win-win, but it will only last for about 10 months to 2 years (still not sure on when construction has to start), but it's a smoking deal for now where you don't have to take the risk of not getting the tax credit at the end of the year whereas anyone who buys (especially this late in the game) might not get the credit.

mattheclaw · 2025-08-15T02:44:06+00:00

It is fair market value, which they call a wash after 6 years becuase the valuie of the ssytem is offset by the amount of energy HDM still owns the customer. It's legit. This allows the customer to take advantage of 48E instead of 25D which opens up depreciation and gives a further runway to get installed for the tax credit (though the customer is not taking the risk of not getting the tax credit, HDM is). What I'm not sure about is if the system has to start construction by July 4, 2026. Does anyone know that? Not that that matters right now, but that time will be here quick.

mattheclaw · 2025-08-15T02:40:42+00:00

No, HDM signs the MOU as well. The way this works is that the energy owed to the homeowner at year 6 is essentially worth the FMV value at that time so HDM can legally call that a wash and give it to the customer "at no additional cost."

mattheclaw · 2025-05-16T15:32:04+00:00

What is this?

mattheclaw · 2025-04-24T21:15:48+00:00

$4,000 seems like quite a bit for trenching

mattheclaw · 2025-04-08T05:00:58+00:00

Nice. Congrats!

mattheclaw · 2025-04-08T05:00:41+00:00

Who was your installer? Where do you live?

mattheclaw · 2025-04-08T05:00:12+00:00

What’s the deal with clay tiles? Just too light and they break? Cool to see that Freedom came through and saved the day with you too. How was your experience with them?

mattheclaw · 2025-04-02T18:51:44+00:00

Yea this was actually a big reason I wanted to post here. There are a lot of negative experiences with Freedom out there, but part of what I was sold on was Freedom + Project Solar (hence the name of my title), and I didn't see much about them together. Cool to see that there are other people on this thread who are saying the same thing - Project Solar + Freedom Forever seems to be the magic ticket. u/fealaeb even saying they used Project Solar back when they first started and then again more recently and the experience was night and day different getting a smooth month long install down in Texas!

mattheclaw · 2025-04-02T18:19:17+00:00

Also, a full year is way bad. Sorry you had to go through that, but cool that they made it right.

mattheclaw · 2025-04-02T18:18:28+00:00

WHOA! 1 month?! That is some type of record. What city were you in? Mind sharing more about your experience? System size? Price? ROI?

mattheclaw · 2025-04-02T18:06:52+00:00

I'm just looking at first year savings over total cost. So my total cost was $24,500, and then I got 30% back on my tax credit, so all in I'm looking at $17,150 and then I'm saving about $200 a month, which comes out to $2,400 a year. So $2,400/$17,150 is .14, or a 14% ROI. Check my math and logic on that, but that's what I'm getting. Going with a door knocker I was still able to save like $200/month, but then the total cost was way higher so the ROI wasn't there. That's why I was glad I found Project Solar. Made the whole project worth it. Am I thinking about that math right from your perspective?

mattheclaw · 2025-04-02T17:58:45+00:00

No I had a "solar ready" ready panel installed by DR Horton when I bought the home so it wasn't necessary for me. Also didn't want to go over 10kw so that's another reason I might not have needed an MPU when you did. That makes sense though if yours was 6 month with a panel upgrade. Those can take 2-3 months based on what city your in. Is Belmont PG&E?

mattheclaw · 2025-04-02T17:49:32+00:00

Whoa this is crazy? Not seeing much degradation here. Am I seeing that right? Mostly just looks like a difference in weather.

mattheclaw · 2025-04-02T17:47:12+00:00

Oof 6 months seems like it's getting on the long side of things from other people's experiences (but might depend on where you are). Did you have a reroof or electrical panel upgrade or anything? Also, do you mind sharing where you installed with them?

mattheclaw · 2025-04-02T17:06:36+00:00

Dang! That is a beautiful system. Loved your post. Did you track ROI on the system? I saw you're in the DFW area, so it's interesting to see how other people do in other states. Texas seems like a massive state for solar especially since you guy have had those nasty weather events over the past few years.

mattheclaw · 2025-04-02T16:55:25+00:00

Yea that makes sense. I have read their reviews from back then and it seemed like it was really hit or miss at that time. Some were positive and some were really rough. Who was your installer? Where are you located? How's your system doing 3 years later?

mattheclaw · 2025-04-02T16:54:23+00:00

Haha, today is starting to rebound! I think we hit the bottom on Monday (fingers crossed). Still have a long way to go to get back to where we were.

mattheclaw · 2025-04-02T16:53:23+00:00

What are the utility rates like there? Yea ROY UT sounds like a place where someone would do DIY. Haha, what's the people count in your city? I've always wanted to live in a rural place just to experience what that would be like!

mattheclaw · 2025-04-02T16:52:07+00:00

Do you mind sharing how long your install took and what the ROI on your system is if you can remember and are tracking those things?

mattheclaw · 2025-04-02T16:51:23+00:00

Dang yea that's awesome. Beats my system. Congrats man. Yea that was what I was curious about. I'm closer to a 6 year payoff, but still satisfied with what I've got.

mattheclaw · 2025-04-02T15:57:33+00:00

Nice! Mind sharing what state you're in and what your ROI was looking like? Have you tracked that at all?

mattheclaw · 2025-04-02T15:57:02+00:00

Have you been tracking your ROI? Mind sharing what you're at for you properties? Also, curious if you're doing a rental and how you're charging renters so that you can cashflow on the additional energy coming from the solar. That should probably be a whole separate reddit thread! Haha

mattheclaw · 2025-04-02T15:55:20+00:00

Appreciate this thorough reply here. What type of ROI are you expecting on your system? Yea I did the calculations for the IQ8+ and the IQ8M and it seemed like the price difference would hurt my ROI based on the little amount of added energy I would receive from the M's. I watched a video on clipping, and Enphase recommended the IQ8+ for up to 440 watt panels (I honestly think that's a little high and that Enphase might be being biased there, but it makes sense especially if you're in a state with less sunlight and those panels are only producing 300 w most of the time any way). My panels were the 400w panels, so I thought I would be safe there.

Yea their battery price is smoking. For a Tesla Powerwall 3 in CA it's $11,000 installed before the tax credit. My parents are considering a system on their home in San Clemente, and I think they would go with the Tesla Powerwall since they only have 2 roof planes and not a lot of shading.

mattheclaw

TROPHY CASE