Anyone know about SolarCity?

1,515 Views | 16 Replies | Last: 7 yr ago by Complaint Investigator
Not Sure
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AG
I know nothing about this company and a salesman stopped by and asked if they could measure our roof tomorrow. Have any of you had any dealings with them and realized any true savings on electricity cost? I'm just trying to find out any information I can before I talk to them tomorrow.
The Fife
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Is this the thing where you lease the solar panels and buy electricity from the owner?
Not Sure
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AG
I only had a brief discussion with the representative. They put solar panels on your roof and sell you power at a discounted rate.
txag2008
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AG
Your username checks out
The Fife
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Not Sure said:

I only had a brief discussion with the representative. They put solar panels on your roof and sell you power at a discounted rate.
I personally wouldn't go for it. A quick search shows a lot of complaints with this sort of thing. Also if you sell your house there's a pretty big charge if you can't get the buyers to continue the contract with them.
hurricanejake02
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AG
Texas is not a great market for residential solar, electricity is just too cheap to justify it.

Getting roped into a 20 year lease on the panels only makes the deal worse.
Not Sure
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AG
I agree with your assertions based on what I have read on them and the prospect of a 20-year lease does not look good. I was hoping for some first-hand experience either positive or negative. It will be interesting to hear how the salesman tries to spin it.
aggiez03
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AG
The problems with solar for your house are:

1. To convert your whole house, you would have to cover your entire roof.
2. Batteries are expensive and have to be replaced every 3-5 years
3. Lots of other equipment to buy (chargers, inverters, etc).

but the biggest problem is....

Solar Panels total life is about 20 years, it starts losing efficiency in about 10 years or less. The payback on
a system is 20+ years. So the best you can do would be to break even with your current cost.
aezmvp
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aggiez03 said:

The problems with solar for your house are:

1. To convert your whole house, you would have to cover your entire roof.
2. Batteries are expensive and have to be replaced every 3-5 years
3. Lots of other equipment to buy (chargers, inverters, etc).

but the biggest problem is....

Solar Panels total life is about 20 years, it starts losing efficiency in about 10 years or less. The payback on
a system is 20+ years. So the best you can do would be to break even with your current cost.
Not only that but before the end of that lease time you're likely to have solar roof tiles by then.
Agmechanic
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AG
Or you have a hailstorm and the whole thing is toast
Complaint Investigator
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AG
I'm going solar in Austin with Solar City. It's Elon Musk's company. The sales guy who sold it to me is a member of a really dorky club I belong to. He has an excellent reputation on the boards there, so I trust him. He came out, detailed everything. They don't pay you. The city doesn't "pay" you. The best you can hope for is having solar work well, and the city "credits" you for the cost of what the power makes. Hence, you don't generally have a bill because you have enough credits to cover it (and potentially roll over.) If you do, it's small. He says he tries to get to 95% of what you'll need, so you don't need to overbuild the system. You may end up paying the summer, but getting credits in the winter.

Austin is paying out a hefty chunk for the system up front straight to them, plus the fed tax credit is still going on. I'm getting in while it's still available.

ETA: I am going with a purchase. You own it. Hail damage is covered under your Homeowners. Also wanted to add - the system should be going at about 80% after 20 years of use. They last longer than 20 years LOL

I'd be happy to give you his contact info if you post an e-mail.
ChoppinDs40
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AG
Not a first adopter but you're pretty close.

Solar is the next wave of energy tech especially with Musk's continued investment in storage.

Efficiency of panels and storage (both output and price) will continue to improve. As the new administration is going to let loose on coal, o&g, nuclear, energy prices are likely to remain flat or drop.

Let's hope this doesn't ritard the advancement but this is what keeps me from taking the plunge.

Much better stuff will be available in 5-10 years. I liken it to "Cutting the cord". Was tough to do 3 years ago - now they have directvnow and PSvue
agchino
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AG
This sounds like the city is subsidizing your solar use heavily and not the electric company. Is that the case? If so what are your thoughts if the city gets out of the subsidizing game in 10 years (or before your return on investment pencils out)?
Cody 91
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AG
There is absolutely no way solar makes sense in Texas right now, even with the subsidies, which are small. If you want to do it, it can only be justified on "I just like to be green" grounds.

Let me qualify my statement: unless you live in Austin, where the subsidies are California-like.
Dr. Doctor
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AG
I live in Houston.

I priced out solar on my house in the north east side. No subsidies, just getting credit for energy at the same rate I buy it.

My house would pay back in less than 10 years. With federal subsidy, less than 7. Assuming 11 cents. Based on federal data for solar based upon my address. And that's with no batteries and only the South side of my house (20 or so panels).

Solar can work out. Without subsidies.

If I could get the power pack from Tesla, I would need 2 of them and could be completely off the grid.

~egon
Cody 91
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AG
11 cents is more than 25% over what Ive paid over last 5 years and Texas continues to be overbuilt. I'm not anti- renewables (I'm in the business), but they rarely make sense in Texas and the economics depend on you not moving and having zero unexpected costs, plus some terminal value after lease is up.
Corps_Ag12
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AG
My BIL has done the exact same thing as you are doing in Austin as well. I think it's been at least a year and he hasn't complained so far.
Complaint Investigator
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AG
Cody 91 said:

11 cents is more than 25% over what Ive paid over last 5 years and Texas continues to be overbuilt. I'm not anti- renewables (I'm in the business), but they rarely make sense in Texas and the economics depend on you not moving and having zero unexpected costs, plus some terminal value after lease is up.

You keep talking about leasing. I don't think it makes sense to lease a system. Buying one makes sense. See egon's post.

I also have a high usage due to the fact I have reef tanks. They require lots of light, lots of moving water (and generally, lots of money.) It's going to be worth it to me, and the fact the city and feds are willing to help - I'm in.
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