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12-06-2012, 07:42 PM
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#1
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Screw PC
Join Date: Jun 2003
Posts: 15,728
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Solar panel installation -- too good to be true?
I had a sales rep knock on the front door with a cold call promoting http://www.vivintsolar.com/ .
The gist of the deal is, for absolutely no cost to me, they install their equipment on my roof and sell to the local power company the solar generated electricity. I get the discounted rate.
This works, in part, b/c CA has a mandate to achieve 33% renewable energy in the future.
Beyond the (to me) obvious questions about potential impacts to my insurance coverage or rates, what else would be prudient to understand about such a proposal.
Looks to good to be true. Where are the pitfalls?
__________________
Truth sounds like hate to those who hate truth.
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12-06-2012, 08:18 PM
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#2
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Registered User
Join Date: Aug 2009
Posts: 10,999
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Quote:
Originally Posted by DJofSD
Looks to good to be true. Where are the pitfalls?
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Without specifics I'd only be guessing but I'd expect you would, in effect, be leasing your roof. Just like leasing anything, there are good tennants...and bad. Another possible pitfall would be that in this case the tennant would probably write the lease. Not something I'd want to come between me and my castle.
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12-06-2012, 08:33 PM
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#3
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Registered User
Join Date: Aug 2009
Posts: 6,375
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Who's responsible for removing the system in case the roof needs repaired. Will they cover that cost or will it fall onto you? Also what will it do to your property value... as far as taxes that is.
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12-06-2012, 08:49 PM
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#4
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Screw PC
Join Date: Jun 2003
Posts: 15,728
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Yes, the question about repairs has already been thought of.
As far as property valuation, I believe it would be a positive.
__________________
Truth sounds like hate to those who hate truth.
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12-06-2012, 08:53 PM
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#5
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Join Date: Mar 2001
Location: Reno, NV
Posts: 16,913
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Can you find a local testimonials or is the idea too new to see results yet?
Here in Reno the solar and wind power industry has taken a huge hit, although much more the wind power guys. It seems that the returns have been like 7% to 15% of what was promised for these backyard eyesores. The companies who did the installations are long gone, of course. (As is the money invested.)
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12-06-2012, 08:56 PM
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#6
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Registered User
Join Date: Mar 2008
Posts: 1,745
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Quote:
Originally Posted by DJofSD
I had a sales rep knock on the front door with a cold call promoting http://www.vivintsolar.com/ .
The gist of the deal is, for absolutely no cost to me, they install their equipment on my roof and sell to the local power company the solar generated electricity. I get the discounted rate.
This works, in part, b/c CA has a mandate to achieve 33% renewable energy in the future.
Beyond the (to me) obvious questions about potential impacts to my insurance coverage or rates, what else would be prudient to understand about such a proposal.
Looks to good to be true. Where are the pitfalls?
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My neighbor had it done. Seems to be happy with it. Here are the major issues: 1. Aesthetically - I think it is ugly. 2. The repair issue is a major issue. It looks like those panels are not easy to remove if you need to replace the shingles. 3. Biggest concern is that those solar companies are very weak financially. If they cannot stay in business, you lose and #2 becomes a bigger issue.
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12-06-2012, 11:28 PM
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#7
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Registered User
Join Date: Jul 2007
Location: MILWAUKEE
Posts: 5,285
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you can buy plans and build your own.
__________________
Never tell your problems to anyone because 20% flat don't care and 80% are glad they are yours.
No Balls.......No baby!
Have you ever noticed that those who do not have a pot to piss in nor a window to throw it out of always seem to know how to handle the money of those who do.
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12-06-2012, 11:38 PM
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#8
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Registered User
Join Date: Oct 2007
Location: North Riverside, Il.
Posts: 16,104
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Quote:
Originally Posted by DJofSD
I had a sales rep knock on the front door with a cold call promoting http://www.vivintsolar.com/ .
The gist of the deal is, for absolutely no cost to me, they install their equipment on my roof and sell to the local power company the solar generated electricity. I get the discounted rate.
This works, in part, b/c CA has a mandate to achieve 33% renewable energy in the future.
Beyond the (to me) obvious questions about potential impacts to my insurance coverage or rates, what else would be prudient to understand about such a proposal.
Looks to good to be true. Where are the pitfalls?
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Looking through the link you provided I found this.
Quote:
Maintenance
Solar photovoltaic panels require little maintenance.
There is no need to wash or dust photovoltaic panels, but it is important to keep them clear of shade and debris. Anything above and beyond this is covered by your full service agreement.
Your full service agreement includes a full parts and labor promise for the life of your agreement. Should your system malfunction or break, we will send a repair crew to your home to fix it—for free. Minimal shade and occasional cleaning and inspection are the most important parts of your system's maintenance. The Vivint Solar service team monitors your system output to ensure it is performing properly and will help you if it's not. Most importantly, maintenance and warranty repairs are included in our service as a part of your PPA. Should your roof ever need repairs, the solar panels can be removed and reinstalled for a reasonable fee.
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Since they are responsible for maintaining and repairing the units, I can't see any reason this should increase your homeowners insurance. On the other hand I am certainly no expert.
They also say "Should your roof ever need repairs, the solar panels can be removed and reinstalled for a reasonable fee." The question is what is a reasonable fee. Will the money you save on electricity offset the "reasonable fee" should you have to repair your roof?
I don't think this is "too good to be true" because they are not doing this out of the kindness of their hearts. They are going to make money from the electricity they pay to the power companies, and-if I understand your post-they are not going to pay you rent for the use of your roof.
Solar energy is the wave of the future, but it is also still filled with pitfalls. Companies fall by the wayside all too frequently. I would say you need a lot more information to make a good decision and maybe a lawyer.
__________________
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