My 93 year old Dad just signed up for a 50 year contract for solar at $150.00 per month in Florida

Miller_Ranch
Miller_Ranch Registered Users Posts: 42 ✭✭
in General Solar Power Topics #1
I live in New Mexico totally off the grid and have been planning my system for probably 10 years. My dad has a beautiful house on a golf course in Hernando FL. His dream. So when he told me what he was doing it made no sense to me. He has a swimming pull heated by an electric heat pump that his younger wife like to keep at hot tub temperature. 

It is a larger house too with two heat pumps for ac and heat. I can see him wanting to reduce his electric bill. What I have figured out as how it works, If his grid power bill is $150.00  he breaks even.(Wait, he would be paying $300.00, this makes no sense) any more he is coming out ahead? His bill is usually more than that, but he is only there part time.
 
Bottom line he is just trying to reduce his monthly payment as the young wife is not interested in Florida and will sell as soon as he is not around.

The contract forever goes with the house.

Still cant wrap my head around this.

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  • BB.
    BB. Super Moderators, Administrators Posts: 33,613 admin
    #2
    I try to warn folks that Solar Power is not an "investment". It can make some sense if you have extra cash in your bank account, do a bunch of conservation (usually "cheaper" to conserve energy than to generate it), and finally look at GT Solar (or other backup capable with batteries/inverter/backup genset) as needed.

    I worry that these types of leased (?) systems are usually not great deals for the home owner, and can run the risk of losing the home to foreclosure if things do not go "right".  You have to go over the contract with a fine tooth comb (what happens if you do not "use the energy", or if the system does not produce, needs maintenance, etc.).

    And there are the issues with what is happening with the PUCs (public utility commissions) and the utilities themselves... It is not unusual for the "terms" of the utility bill to change over time (10-15+ years) where what was a great deal for the homeowners now changes to where the "savings" due to solar are greatly reduced over time.

    -Bill
    Near San Francisco California: 3.5kWatt Grid Tied Solar power system+small backup genset
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  • Miller_Ranch
    Miller_Ranch Registered Users Posts: 42 ✭✭
    #3
    Thanks Bill, I agree with everything you said. It took me a while to get it straight in my head what my dad did.
     
    Basically he signed up for a 50 year plan at $150.00 a month. No up front cost. They came in a put about 9kw of panels on his roof. There is no sell back to the utility company.

    So here is how it works. Say his bill would be $500 from the grid company. He pays the solar company $150 a month no matter what. So if with the panels on his roof he lowers his grid bill to $350 then he breaks even. To me there is no way to know if you are coming out ahead or not.

    You get your bill from the grid power company but how would you ever know if you reduced it by $150

    Love my dad and know he is just trying to reduce his monthly payment.


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