What are your inputs on Solar Energy?

[Uriel Resendiz]

Has anyone on here thought of installing Solar on their Properties? or have you heard a friend or neighbor talk about it to you?  

do not hesitate to reach out, I have great referral programs upon deals closing 

Cheers

[Sasha Mohammed]

oh man i disagree with the nay sayers. i put solar on my home, i'm almost 1 year in... and i am STOKED!

I'll add - i'm in SoCal, doing a house hack on an SFR. Utilities are all included in a flat-rate monthly rent for these guys. Pre-Solar, I was averaging about $200/mo for 4 adults during the year anyway, BUT the summer months with A/C i was getting bills upwards of $600 - $800/ mo with conservative A/C useage... usually siting between 74 and 76 degrees on auto and switching to windows when it was cooler outside at night.

Solar cost was about $23k, financed for 15 years at a 6.5% rate. no monies down.

SoCal Edison charges me about $12/ mo for connectivity charges, my monthly bill on the panels is about $200 (same as i was paying before, but minus the giant summer a/c bills)

As of now (10 months into my true-up period), i have about an $830 credit with Edison. Since July we have had the a/c running on auto between 74 and 72 degrees ALL DAY AND ALL NIGHT. 

July was a credit of about $30, August will be a bill of about $50... which will eat into the credit i'm owed (oohhh noooo lol). I suspect Sept will likely be about the same. 

i will say from a mortgage broker perspective - purchase is better than lease on your financing ability and ability to sell your property. it is a UCC, which is not a lien, but does require a temporary termination in order to refinance, which does come with an added cost, likely about $300 or so. and if i sell i will have to pay off the remaining balance of these guys for the prospective buyer.... but im totally fine with that. 

All in all, solar was a great move. So far seems to be saving me approximately $2k a year.