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Solar Panels for the House

We're having a company come by today to talk to the hubs and me about solar panels for the house.  We'd be leasing them instead of buying them (just don't have an extra $35,000 laying around right now) and it's through a company that some friends are also using.  Living in SoCal and getting sun over 300 days a year, I think/hope we'll have good luck with them in saving some money. 

Anyone else do this? 

Lilypie Fourth Birthday tickers

Re: Solar Panels for the House

  • Congrats! 

    Re leasing vs. buying -  I've tried googling the hell out of it, but for the life of me I can't find the IRS link to the solar panel tax credit or PG&E rebate for CA residents.   It was something like 30%, and it may present the option to purchase for you.  Anywho, just thought I'd put it out there.

    Either way, I'm jealous and think you're awesome!

     

  • There's a company here in PDX that's pushing really on a very similar model. It seems to be incredibly popular, although I feel like their claims are a bit aggressive. Regardless, I think it's a great way to get into solar without the usual expense. I just hope people aren't disappointed when they don't save as much as the company has told them they would.
  • We just got our quote and we'd be saving ~ 50% a month using solar power.  So once we factor in the the cost of the lease, we'd be saving about $50/month on average.  Not a bad savings...
    Lilypie Fourth Birthday tickers
  • Like the pp said there is a 30% off tax credit but you'll have to wait until the following year to get it and you will have had to have paid that amount on your federal taxes to get it back.  Otherwise you'll get what you paid for your federal taxes that year.  We're getting $6500 on our geothermal system we put in last year. 

    BTW I'd look into geothermal systems.  Ours is projected to save us $2200/year (at the current price of fuel oil which is what we converted from, based at the price the previous owner spent on fuel oil two years ago it would be $4700 saved in one year).  The system should have paid for itself in only 8 years. 

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