Solar Panels on roofs

[Marc Biviano]

Hi , I'm looking for feedback on solar panels on my personal home in Massachusetts. I am in need of a new roof soon and have been looking into solar panels on my roof as an option to cut my electric bill. I would only be interested in purchasing the panels on a payment plan with a payoff period of about 7 years. Massachusetts still has a 30% credit on place as well as a State $1000 credit. I'm looking for peoples experience with solar panels good and bad to determine if it is worthwhile for me. Also what have you had for costs of installing 6-8kw systems will solar panels hurt the longevity of my roof. Thanks

[Robert Lubell]

Originally posted by @Marc Biviano:

Hi , I'm looking for feedback on solar panels on my personal home in Massachusetts. I am in need of a new roof soon and have been looking into solar panels on my roof as an option to cut my electric bill. I would only be interested in purchasing the panels on a payment plan with a payoff period of about 7 years. Massachusetts still has a 30% credit on place as well as a State $1000 credit. I'm looking for peoples experience with solar panels good and bad to determine if it is worthwhile for me. Also what have you had for costs of installing 6-8kw systems will solar panels hurt the longevity of my roof. Thanks

 Marc,

Many people don't know this but Massachusetts has consistently been ranked the #1 best state for PV solar. Yes, better than CA and AZ. Going into 2018 still ranks #2.

https://solarpowerrocks.com/2018-state-solar-power-rankings/

Factors include:

1) Overall Grade 2) Renewable Portfolio Standard 3) Solar Carve Out 4) Electricity Price 5) Net Metering 6) Interconnection 7) Solar Rebates 8) State Solar Tax Credits 9) Performance Payments 10) Sales Tax Exemption 11) Property Tax Exemption

--

It's not all just about sun hours.. tax incentives, rebates, and local policies make just as much of an effect on solar viability. I have been very involved in the solar industry for about a decade now, and more recently bridging the space between solar and real estate. Here are my thoughts based on your questions:

Need a new roof? The 30% ITC Tax credit for solar ALSO includes your roof. The tax code clearly states the cost associated to a foundation for solar such as a roof will not fail to qualify here. In short you can be credited back dollar for dollar 30% of your solar AND roof cost against your tax liability. Definitely worth doing both together & wrapping them in the same financing. Also, Im not a tax professional and this is not tax advice, but your CPA should be able to claim you deprecation on your investment as well, gaining you even more tax benefit.

Solar panels provide cover from the elements to the shingles located below them, thus increasing shingle life. Most solar contractors these days hold 10 -25 year warrantys on their workmanship/penetrations. It's 2018... days of damaged roofs due to solar installs are long gone (unless you have a ceramic tile roof or something that easily breaks when stepped on)

You can easily reduce your power bill down to just the utility's basic charge, typically 5-10 bucks per month. And in states with high electricity costs, including Massachusetts, you should easily be able to have a loan payment that is less than your old power bill. Financially / Cashflow speaking, solar is a no brainer if you can make this happen. Plus once it's paid off, thats it, no more power bill. 

Batteries are getting better, however for now I would only suggest them to very concerned "doomsday" folks or for the intent of reducing time-of-us utility charges. You can request from you solar contractor to have a grid-tied solar only system installed that is prepped (plug & play) for future battery implementation. There are some minor solar equipment differences, specifically with the inverter, if you intend to add batteries now or later

If a solar system is properly engineered, snow is a non-issue. Most solar engineering software accounts for average weather conditions for your zip when sizing the required system to offset your electric consumption. Ideally it would be designed to "over-produce" enough during sunny months to save up enough Net Metered kWh credits from your utility to get you through the less sunny months without an issue. The utility in MA has a great net metering program that allows you to bank your unused production without needing batteries. 

For a 6-8kw system (this is a tad higher than average fyi), you should feel good in the range of $18k-$25k gross (remember you can get back 30% of that, plus the state incentive, plus any other local rebates/incentives). Basically it's like buying a brand new car at 40% off , except is saves you about the same amount of money that a car would costs you in gas. That makes this a great asset to own.

I do have some good relationships there in MA, let me know if you'd like me to get you in touch with a trusted contractor. 

Hope this helps