Got Solar?

[Ron Mexico]

However, I'm not sure if the current federal solar incentives have been renewed into 2017. When I got my system they were set to expire in Dec 2016.

They were renewed for 2017. I think they might have been extended through 2018 as well.

 

[babe]

There are technological breakthroughs on the horizon that will make solar power much cheaper than the grid. Power companies are going to pay you to put solar panels up on your roof and let them have the power you don't use.

 

[♪alt13]

I have a solar powered calculator. You just take off the sleeve and boom it works. It has a little photovoltaic panel on it that produces power so that it can do math stuff. It's pretty ****in nifty.

 

[franklin]

Here are some more details on my system that I was able to look up:

We got 22 panels, each producing 260 W, for a total of 5.72 kW. Given our expected sunshine in Orem, they should produce about 8700 kW hr over the course of a year. Our total system cost was about $24K, which includes some additional energy-efficiency things (LED lightbulbs, smart thermostat). We got about $9K of federal and state tax credits (incentives), so the net price was about $15K. We wouldn't have done it without the tax credits! We got a 12 year loan at a nice interest rate from Zing or more precisely a Zing-related bank.

A few words about taxes: the money is given through tax *credits*, which means that you can only use them to pay down the taxes that you owe. It's not free money from the government above and beyond what you owe. If you owe less in taxes than the credits are good for, then you can generally roll over the credits to the next year. However, I'm not sure if the current federal solar incentives have been renewed into 2017. When I got my system they were set to expire in Dec 2016.

That sounds like a lot better of a price than what I've seen and researched. $15k is reasonable; I've seen closer to $30k.

I've been getting pounded by door-to-door solar sales people. I tell them all I don't need a sales pitch and that I understand about the rebates, etc. I ask for an estimate of monthly payment and power production, and let them know I'm interested. None of them have returned.

 

[franklin]

There are technological breakthroughs on the horizon that will make solar power much cheaper than the grid. Power companies are going to pay you to put solar panels up on your roof and let them have the power you don't use.

Rocky Mountain Power already has a subsidy program. This year's oversubscribed and they picked through a lottery. [MENTION=14]colton[/MENTION] could have gotten an additional $4400 subsidy had he won the lottery.

RMP wants the REC's to sell.

 

[colton]

One think u need keep in mind Colton is it is not a credit more like a rebate. I do a lil accounting and many my clients cannot actually claim the rebate because tax bill is too low. This is similar to gambling losses or cap gains losses. This is not a credit this is a limit to what u can write off.
[MENTION=14]colton[/MENTION] I hope for you you make enough to get the full subsidy.

Yes, that's an important point, and one that I looked into extensively before committing to it.

 

[colton]

Also, Colton, track your energy vigilantly. You say you saved about $100 but so have I in recent months compared to last year. Some of that is me being more energy efficient. More of it is due to more moderate temps over the last three months as compared to last year. Compare average temps from this year to last.

Sorry, I misspoke. I saved about $100 relative to what it would have been this year with no solar panels, not $100 relative to last year. The $100 estimate was based on the number of kWhrs the solar panels actually produced during the month of May (865 kWhrs), times the cost per kWhr (estimated at a little above 10 cents/kWhr based on the electrical bracket I think I'm in).

 

[Boris]

Yes, that's an important point, and one that I looked into extensively before committing to it.

I missed your first post on this page. Just wanted to warn others about the downsides most are not aware of from my experience.

 

[bigb]

I've only had reply to my inquiry on my neighborhood Facebook page. He said he went through a company called 1 Solar and had nothing but good things to say. He said that last winter his panels produced 40% of what they did over the summer. But, if his is the house I'm thinking of, he faces east, so he only has panels facing east and West, none (or very very few) facing south.

 

[Beantown]

Looks like most of you guys know your stuff. Here are things to keep in mind when getting solar:

1. Cash/Finance are the best options. Leasing was only created for people to can't take advantage of the tax credits.
2. Like previously stated the tax credits offset what you owe. Need to have a tax "appetite" to utilize these.
3. Solar tax credit was extended through 2020.
4. When shopping around ask for "Price per watt". This is how solar companies price systems. Including install and paperwork.
5. Solar panels come in various wattage. Typically 250-320 watts. Make sure they have a good warranty.
6. Inverters also come in "micro" that are more expensive. It's used for when you have some shading from trees. IF you have NO shading don't do micro inverters. Companies will just automatically do them for the higher margin.
7. Don't stress too much about the install. Everything has to pass inspection. But the biggest concern long term is to make sure the drilled area's are flashed properly. Roof leaking is the most common issue after an install.
8. If RMR is still doing them apply for the lottery incentive

But the biggest thing long term to look out for is Warren Buffett. He owns RMR. He tried recently to do the same thing to Utah that happened in Nevada. If the net metering credits get slashed than everyone installing systems in Utah are screwed.