Need advice on Solar energy......

[newtothegame]

I am currently looking to redo my home if you will into Solar energy. No, it's not because I am a green freak lol. More or less, it's due to the outrageous bills that have been climbing regularly.
Does anyone here use or have solar panels installed on their homes?
There is a local company called Sader Power here in the New Orleans area. No records with the BBB. Only opened here in April of this year.
There claim is 75 dollars a month for lease (60 month term). They monitor, and do any and all repairs needed. Up to a 75% decrease in monthly energy bills.
My avg bill is between 200 and 300 a month depending on seasonality. So the way I am figuring it, at 75% reduction, that would be 150.00 savings on the low end and 225.00 on the high end. take out the 75 monthly fee to them, and at minimum a 75 dollars savings.
What am I not seeing?
At the end of the 60 months, I can continue to keep the system. At the end of fifteen years (or anytime in between) I can purchase the system for "fair market value". Well, no one would really know what that would be but as of right now, to outright buy the system it would be 30,000.
So any ideas or suggestions would be appreciated.
Thanks

[sammy the sage]

get 3 estimates...min....and get references from previous customers...

[bigmack]

Predicted savings from solar companies can be greatly exaggerated. They may have had two installs go 75% out of 1000 which gives them use of 'up to 75%.'

5 years is a long time to enter into an agreement with a company with such a brief presence in your market.

[skate]

What am I not seeing?
At the end of the 60 months, I can continue to keep the system. At the end of fifteen years (or anytime in between) I can purchase the system for "fair market value". Well, no one would really know what that would be but as of right now, to outright buy the system it would be 30,000.
So any ideas or suggestions would be appreciated.
Thanks


i'd look at $50/per mo savings and if they put the system on the ground, not on the roof, i'd consider after you check them out...natch.

i wouldn't want to find out "not so good" and then have to put on a new roof.

[redshift1]

Worst case scenario they go out of business and you pay to retrofit to previous
energy provider. Considering the small monthly savings and the potential risk it seems a bit chancy especially since Sader's track record is unproven.

By the way Jon Sader CEO of Sader Solar comes from a housing construction background and has been associated with the Make It right Foundation.


Here he is participating in a panel, Draw your own conclusions


http://www.youtube.com/watch?v=yb5UEEjeNGg

[DJofSD]

What kind of panels will be used? How efficent are they? Are they made in China? Will some/most/all of the money used to underwrite the installation come in the form of government tax credits or rebates? Will the panels last as long as the period used to repay their cost?

Don't assume anything will be done for your benefit. Caveat emptor.

[TJDave]

There are so many things one can do to minimize their utility bills that I'd bet you could get at least a 30% savings by simply economizing... Adjusting the thermostat, turning lights off, TV's, standby's on all electronic gadgets, etc. There are devices such as kill-a-watt that tell you where your power usage is and how you can better manage it. Too me, there's nothing more satisfying than paring utility bills. It's like free money.

[HUSKER55]

that is a lot of money. there are DYI kits out there that are way less. check them out first...unless you are not a DYI'er.

[skate]

Something NEW for Solar


http://news.yahoo.com/blogs/this-could-be-big-abc-news/future-solar-power-134303743.html



Not only are they less impacted by bad weather, their shape allows them to pick up more sunlight and generate more electricity than flat panels using the same amount of ground space.