![]() The second is that you're really trusting the hell out of your encapsulation. protective stuff, than say, competitive arrays in solar car racing, but you don't want to risk additional shading. Two problems with sitting on the panels, one is depositing things like human oils on the surface of the panel which can shade the array: solar panels for homes tend to have thicker encapsulation, i.e. In addition, THEY continue to own a valuable asset that you are leasing for more than it would cost you to make loan payments. Solar leasing companies exploit all of the above financing schemes, which is how they make money. The end result: I pay about $90 a month (less than my power bill would have been), and in 20 years the panels are completely paid for and I am left with an asset that increases the value of my house without adding to my property tax assessment. Just a monthly "loan" payment that for me was about $90, and I pay instead of a power bill. ![]() Then, a govt-subsidized loan (in New York it's via NYSERDA) covers the rest, so there is effectively no out-of-pocket payment. For me it was cut from maybe $20k to $10k after the credits). This effectively lowers the price of your solar panels from the get-go. A govt-subsided bridge loan gave me the value of the tax credits upfront, so I don't have to wait for them year-to-year. This stuff changes year-to-year, but here's how it went for me when I got mine installed (2016, New York state): Solar panel financing is very easy and can be done from the company who is selling them to you. In some states, this increased value cannot legally be factored into property tax assessments as well, so you get to increase the value of your house without increasing your property taxes. ![]() If you lease them, they become a liability at sales time (see above). If you own the solar panels, they are an asset that increases the value of your house. Solar leases can make it very difficult to sell your house, since the new owner has to agree to take over the lease. Both buying and leasing panels involves a monthly outlay in lieu of a power bill-either to service a loan on purchased panels, or to pay the lease. This includes people who think they "can't afford" to buy panels. Hopefully, this doesn't violate any rules.įor most people, leasing solar panels is a BAD deal vs. I originally posted the below in another thread, but thought it might be useful information so pasting below. Here, please treat others with respect, stay on-topic, and avoid self-promotion.Īlways do your own research before acting on any information or advice that you read on Reddit. Get your financial house in order, learn how to better manage your money, and invest for your future. Banking Megathread: FDIC, NCUA, and your cash.Private communication is not safe on Reddit. Scam alert: Ignore any private messages or chat requests.
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