Would you do 5 yr lease with a $99 residual - $1 a watt

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solar_dave
solar_dave Solar Expert Posts: 2,397 ✭✭✭✭
in Grid Tie and Grid Interactive Systems #1
3000 watt system with Enphase installed for a $1 a watt, 5 yr term $99 residual and I own it. How could I possibly loose? Yes the installer gets the rebates and tax credits. They book it at some high dollar per watt. They have been in business for over 10 years and has good BBB rating.

Some risk? Maybe but for $3K??????? I have no intention of moving anytime soon.
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  • solarvic
    solarvic Solar Expert Posts: 1,071 ✭✭✭✭
    #2
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    Re: Would you do 5 yr lease with a $99 residual - $1 a watt
    solar_dave wrote: »
    3000 watt system with Enphase installed for a $1 a watt, 5 yr term $99 residual and I own it. How could I possibly loose? Yes the installer gets the rebates and tax credits. They book it at some high dollar per watt. They have been in business for over 10 years and has good BBB rating.

    Some risk? Maybe but for $3K??????? I have no intention of moving anytime soon.
    Does that mean they get your 30% income tax refund? I keep geting an invitation from this place AE solutions. victor, There has been an informational meeting scheduled in your area to show you how you can save 35% each month on your utility bills.This technology was developed by NASA and is now bieing introduced to the general public. A meal and drink will be provided while you receive this information ans will be paid entirely by AE solutions. Leave checkbook at home because nothing will be sold at the meeting. I goes on and on and ends This program is not for mobile homes, manufactured homes, and for trailers. This is for homeowners only. I wouldn,t go since I have a doublewide. I only know of 4 solar systems in my area and 2 of them are mobile homes, per say. Do you think they are pushing solar? :Dsolarvic:D
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  • solar_dave
    solar_dave Solar Expert Posts: 2,397 ✭✭✭✭
    #3
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    Re: Would you do 5 yr lease with a $99 residual - $1 a watt

    No they get the tax break and the APS rebates. So to buy outright, the cost are about $4.75 a watt installed. Take off the 30% fed and the APS $1 a watt and it is still about half that out of pocket cost.

    Pvwatts says it will produce 4798 kWh annually, even if I only get the grid tie pay back of $0.065 it pays back in about 9 years, but what I am thinking is the charging on two Volts is getting me back into buy utility electric game. I hate that.
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  • rollandelliott
    rollandelliott Solar Expert Posts: 834 ✭✭
    #4
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    Re: Would you do 5 yr lease with a $99 residual - $1 a watt

    this is such a scam for tax payers. they inflate their labor costs so much to the feds to artificially pump up the installation costs. SO instead of charging $2 a watt for install they charge $4.

    For example Normal labor on 10K system $20,000
    inflated labor is now $40,000,
    Feds pay them another $6,000 in tax credits

    that is the only way I see these businesses are able to offer such good deals?

    too bad you can't get a tax credit for your DIY work.
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  • solar_dave
    solar_dave Solar Expert Posts: 2,397 ✭✭✭✭
    #5
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    Re: Would you do 5 yr lease with a $99 residual - $1 a watt
    rollandelliott wrote: »
    this is such a scam for tax payers. they inflate their labor costs so much to the feds to artificially pump up the installation costs. SO instead of charging $2 a watt for install they charge $4.

    For example Normal labor on 10K system $20,000
    inflated labor is now $40,000,
    Feds pay them another $6,000 in tax credits

    that is the only way I see these businesses are able to offer such good deals?

    too bad you can't get a tax credit for your DIY work.


    Yep it is exactly what they do. But it is them taking the liability for the fishy books, not me.

    I pulled the trigger on a 3290 watt add with Enphase inverters (slight shading issue) for $3290, half up front, balance on completion. 5 year term with $99 residual, the 5 years is required by the Feds as the minimum term. The Volt has shown me that we need about a 2000 watt add when adding a second Volt. Already got the interconnect agreement back from the utility, which surprises me as this will take us to a 15.75 Kw overall connection.

    It is cheaper than any install I can get anywhere else. In fact I asked about an install on the "rental" property I have that the step daughter and grand kids live in. With a 20 year lease they will do a $0.50 a watt and standard SMA inverter. $4500 for a 9Kw system. Not taken any action on that, not liking the term of the lease but they guarantee and maintain the system for the full term of the lease.
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  • drees
    drees Solar Expert Posts: 482 ✭✭✭
    #6
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    Re: Would you do 5 yr lease with a $99 residual - $1 a watt

    That's a killer deal. At that price it's a no brainer - 5 year payback, parts warranted for many more years and w/your Enphase system even if an inverter or panel fails the rest of the system will keep on generating.

    Hopefully they're using the new M215 inverter w/the 25 year warranty.

    So just to be clear - you're paying $1/watt up front, $0/mo and $99/residual after 5 years? Bargain!

    As rollandelliott says - also not crazy about the inflated prices they are claiming on the books for fed tax credits - IMO the fed should change to a rebate based on actual production (like the California rebates) rather than gross cost.
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  • solar_dave
    solar_dave Solar Expert Posts: 2,397 ✭✭✭✭
    #7
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    Re: Would you do 5 yr lease with a $99 residual - $1 a watt
    drees wrote: »
    Hopefully they're using the new M215 inverter w/the 25 year warranty.

    So just to be clear - you're paying $1/watt up front, $0/mo and $99/residual after 5 years? Bargain!.

    That is the exact deal, and inverters. I could not say no, if I had more roof space I would have gone bigger, but was also worried about my utility looking a bit to close
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  • rollandelliott
    rollandelliott Solar Expert Posts: 834 ✭✭
    #8
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    Re: Would you do 5 yr lease with a $99 residual - $1 a watt

    "APS rebates"

    what is this the local utility?
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  • solar_dave
    solar_dave Solar Expert Posts: 2,397 ✭✭✭✭
    #9
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    Re: Would you do 5 yr lease with a $99 residual - $1 a watt
    rollandelliott wrote: »
    "APS rebates"

    what is this the local utility?

    Yes, Arizona Public Service. They offer $1 watt rebate.
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