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Late 80s Hokie
Joined: 10/29/2001
Posts: 29,916
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Late 80s Hokie
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Yes, twice. Once on CT, once in NY

You being more south than me, you’ll get a better sun angle. But I had the benefit of State and Federal incentives. No idea if you do. In both cases, my electricity savings paid for the panels in less than 10 years. More like 7 for the first ones in Connecticut, We did finance, and the monthly payment was a little less than the electricity savings, so they were breaking even from a cash perspective right from the start.
Posted: 04/02/2025 at 10:22 PM ET
(In response to this post by HokieGator)

Thread Replies (59)

Full Thread →
Anybody here go solar with their home?
HokieGator • 04/02/25 08:34 PM ET
Another consideration with long-term financing
Tafkam Hokie • 04/03/25 04:15 PM ET
I think we were supposed to have someone come out and tell us how feasible
AbsolutVT03 • 04/03/25 03:42 PM ET
Just be very careful of the company. Sounds like you found a good one...
RUHokie • 04/03/25 08:21 AM ET
Looked at it 2x over 10 years, we never stay put long enough for a return
WestyHokie • 04/03/25 07:55 AM ET
One counter point. Most people finance a house when they buy. If the
Late 80s Hokie • 04/03/25 09:12 AM ET
If they buy into it, maybe
WestyHokie • 04/03/25 11:20 AM ET
Yes, they'd need a basic understanding of how that financial view works.
Late 80s Hokie • 04/03/25 11:52 AM ET
Home I bought in Palm Spring CA has Tesla installed panels on a lease with
DonHo-kieHi • 04/03/25 08:13 AM ET
In Early 2018, we contracted for 25 solar panels. They were installed in
Late 80s Hokie • 04/03/25 07:11 AM ET
Yeah, the more stories I hear, that price seems much higher than it should
HokieGator • 04/03/25 08:32 AM ET
This thread is one of the many reasons I
Spudnut • 04/02/25 11:03 PM ET
Yes, went solar 4 years ago
Hokie Chris • 04/02/25 10:23 PM ET
This is the company I have been talking to. **
HokieGator • 04/02/25 10:29 PM ET
They’ve completed a few projects in my neighborhood and haven’t heard any
VTBUCKLEY • 04/03/25 03:53 PM ET
I could afford it, so we just bought ours
Hokie Chris • 04/02/25 10:34 PM ET
The tax credit and SREC just goes toward paying down the loan.
HokieGator • 04/02/25 10:39 PM ET
Yeah I’m giving away free electricity to AEP
Hokie Chris • 04/02/25 10:59 PM ET
So they don't pay you for the electricity you provide them?
EDGEMAN • 04/03/25 06:08 AM ET
I get credit, but I’m making 9% more than I use on an annual basis
Hokie Chris • 04/03/25 07:33 AM ET
How long do they let you roll over the credit?
EDGEMAN • 04/03/25 08:56 AM ET
I'm not 100% sure, but I think it is FIFO, so it should roll over every
Hokie Chris • 04/03/25 09:33 AM ET
Yes, twice. Once on CT, once in NY ◄
Late 80s Hokie • 04/02/25 10:22 PM ET
Just an FYI because they generally do not tell you this.
VTBUCKLEY • 04/02/25 08:59 PM ET
When our swim club went solar I noted this
Happy Dog • 04/03/25 05:21 AM ET
A few years ago I saw a news report indicating that the industry has not
VTHokie2000 • 04/02/25 09:49 PM ET
Honestly not sure on this one.
VTBUCKLEY • 04/02/25 10:02 PM ET
Not nearly as "green" as they're portrayed.
vthokieq • 04/03/25 09:45 AM ET
Yeah I was trying to be nice. 😊
VTBUCKLEY • 04/03/25 03:58 PM ET
Once the industry figures out that puzzle, then we might see a sudden boom
VTHokie2000 • 04/02/25 10:11 PM ET
I think as solar panels become more efficient...
EDGEMAN • 04/03/25 06:17 AM ET
It will be interesting to see how the industry evolves as the technology
VTHokie2000 • 04/04/25 08:22 AM ET
I know there's a limit on how efficient those panels can become...
EDGEMAN • 04/04/25 09:38 AM ET
I agree with you about the laws of diminishing returns. What I think may
VTHokie2000 • 04/04/25 09:59 AM ET
I don't think they have a good way to recycle/dispose of them now, so...
EDGEMAN • 04/04/25 10:04 AM ET
I agree with your assumption. At some point someone will probably need to
VTHokie2000 • 04/04/25 10:06 AM ET
Maybe AI will come up with a solution?**
EDGEMAN • 04/04/25 10:38 AM ET
That is something I thought about. It would suck to always have that
HokieGator • 04/02/25 09:04 PM ET
Understandable and correct.
VTBUCKLEY • 04/02/25 09:12 PM ET
I will chime in here. I'm in the Keys, so I am interested in solar because,
Coach McGuirk • 04/02/25 09:43 PM ET
Have you looked at roof shingles that generate power?
EDGEMAN • 04/03/25 06:26 AM ET
Yeah, I have seen those "shingles". Very cool technology. I basically just
Coach McGuirk • 04/03/25 07:03 AM ET
One last thing. Make sure to check with your home insurance provider
VTBUCKLEY • 04/02/25 09:14 PM ET
Never heard of that one. I will say, you need to let them know if you’ve
Stork • 04/03/25 04:11 AM ET
It’s not largely an issue to outright not insure homes but….
VTBUCKLEY • 04/03/25 05:30 PM ET
What's the payoff timeline?**
MP4VT2004 • 04/02/25 08:37 PM ET
Financed for 25 years. Can pay off early.
HokieGator • 04/02/25 08:44 PM ET
Storage options? Are they selling any excess back to AEP?
vthokieq • 04/02/25 08:50 PM ET
Currently AEP buys back at a 1:1 ratio, that’s about to change so that you
HokieGator • 04/02/25 08:59 PM ET
Do you get the buy back or are they pocketing that till you pay it off??
vthokieq • 04/02/25 09:03 PM ET
There is so much that it's overwhelming. I'm still not sure how the buyback
HokieGator • 04/02/25 09:47 PM ET
How many panels?
Late 80s Hokie • 04/02/25 10:27 PM ET
29 of this brand...
HokieGator • 04/02/25 10:31 PM ET
Can I ask what company you are working with?**
VTBUCKLEY • 04/02/25 11:00 PM ET
Check out my reply above. **
HokieGator • 04/03/25 06:49 AM ET
Sorry I should have been more clear, I meant company selling and installer**
VTBUCKLEY • 04/03/25 07:54 AM ET
Here:**
HokieGator • 04/03/25 08:26 AM ET
Hmmm...I would tread very carefully. That sounds like a lot of money.
Coach McGuirk • 04/02/25 10:13 PM ET
Yeah, I was going to say - there is zero chance I'd pay $70k+ for solar.
MP4VT2004 • 04/03/25 01:09 PM ET
I mean, a constant payment vs an ever increasing, variable one
hoosnowahokie • 04/02/25 08:48 PM ET