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Message
re: Solar Panels - Yay or Nay
Posted on 7/16/23 at 10:17 pm to Billy Blanks
Posted on 7/16/23 at 10:17 pm to Billy Blanks
Found the home appraiser. You’re not qualified to discuss power plants.
quote:
On average, solar panels raise a home's value by 4.1% across the U.S., according to a new Zillow analysis of homes across the country— that's a boost of $9,274 on a $226,300 home, according to the study.
Money.com
quote:
Real estate agents and home appraisers have found that this also increases your market value when selling your home
Architecturaldigest.com
This post was edited on 7/16/23 at 10:22 pm
2
Posted on 7/16/23 at 11:05 pm to billjamin
quote:
On average, solar panels raise a home's value by 4.1% across the U.S., according to a new Zillow analysis of homes across the country— that's a boost of $9,274 on a $226,300 home, according to the study.
Zillow doesn't see houses. It's not used for appraisals in any form. Let's play devil's advocate and say they did. You think paying 60k for a 9k bump in value is a good deal?
Reality is that it's lender descretion on if they will include ANY value with solar panels. Some lenders consider them personal property, like a fridge, hence zero value. IF they allow value, they want comps with solar panels on the home.
The other massive issue, majority of people finance them and it's another lien. It must be paid off when they go to sell. Buyers can finance them if it doesn't throw off their debt to income ratios but good luck getting one to do that. A colossal equity eater.
In most situations it takes 20-25 years to get money back.
This post was edited on 7/16/23 at 11:10 pm
Posted on 7/17/23 at 12:12 am to billjamin
Make sure your area is not subject to much in the way of hail storms or hurricanes.
Posted on 7/17/23 at 9:17 am to Billy Blanks
quote:
Billy Blanks
Lol. Completely proven wrong but still doubling down. I’m content to let you remain ignorant. But I will address your post later when I can get on my computer so that people who are seeking legitimate advice can be informed. And not by someone who doesn’t know shite like you and is now flailing trying to maintain their false stance.
Posted on 7/17/23 at 9:17 am to Auburn1968
quote:
Make sure your area is not subject to much in the way of hail storms or hurricanes.
Already been addressed. Try to keep up.
Posted on 7/17/23 at 9:49 am to billjamin
quote:
Billy Blanks Lol. Completely proven wrong but still doubling down. I’m content to let you remain ignorant. But I will address your post later when I can get on my computer so that people who are seeking legitimate advice can be informed. And not by someone who doesn’t know shite like you and is now flailing trying to maintain their false stance.
Sounds good. Can’t wait to see more of your garbage. You either owned a solar company or recently got conned into buying them.
Posted on 7/17/23 at 9:56 am to Billy Blanks
quote:
Sounds good. Can’t wait to see more of your garbage. You either owned a solar company or recently got conned into buying them.
If you read the thread I’ve already explained what I do and have. But since reading is hard for you I’ll explain again in more detail. I do energy finance, specifically technical diligence and portfolio technical asset monitoring for investors. About 15% of my job is solar, the rest traditional o&g and a little nuke here and there and oddly,EV leases. Nukes picking up a lot right now but that’s a longer discussion. As far as solar ownership, I have a 40kW with 4 PW2s in west Texas that I basically paid very little for because it was all test equipment I got through work. I don’t have it on my house in Houston because I haven’t found the right local installer who I trust yet and haven’t been offered the right deal.
Regarding my garbage, you can’t even articulate the difference in asset value from a TPO, loan financed and owned. Garbage is someone who can’t understand that and still giving someone else advice. You should rethink your decision to advise people on something you don’t understand.
This post was edited on 7/17/23 at 10:02 am
Posted on 7/17/23 at 10:04 am to billjamin
There’s some commercial application at that scale. There’s zero benefit for a residential home to have them.
You clearly don’t know anything regarding lending/underwriting/appraisal aspect.
You think the general public is getting a “good deal?” Fat chance.
You clearly don’t know anything regarding lending/underwriting/appraisal aspect.
You think the general public is getting a “good deal?” Fat chance.
Posted on 7/17/23 at 10:10 am to Billy Blanks
I do 100% residential. I haven’t touched C&I or utility in years. I monitor over 200k resi systems.
Regarding the lending and underwriting of the assets, the 2 largest solar lenders in the US use my c&u standards because their money comes from the banks I work with. I’ve done billions in solar securitizations and tax equity. We pass the standards down to the lender because we have the money so we make the rules.
As for it being good for the general public, it’s obvious you can’t understand that these are personal questions and everyone’s situation is different. If you must live in absolutes, as it certainly appears you do, then go do that but don’t try to inform other people when you’re clueless. It just creates more ignorance.
Regarding the lending and underwriting of the assets, the 2 largest solar lenders in the US use my c&u standards because their money comes from the banks I work with. I’ve done billions in solar securitizations and tax equity. We pass the standards down to the lender because we have the money so we make the rules.
As for it being good for the general public, it’s obvious you can’t understand that these are personal questions and everyone’s situation is different. If you must live in absolutes, as it certainly appears you do, then go do that but don’t try to inform other people when you’re clueless. It just creates more ignorance.
This post was edited on 7/17/23 at 10:13 am
Posted on 7/17/23 at 10:12 am to MisslePig
For wanting to live off grid it's worth it. Investment... nah
Posted on 7/17/23 at 10:27 am to Quatrepot
just had this done. Had two panels removed temporarily while they repaired shingles that had been destroyed by varmints (racoons) that got underneath the panels. This was only discovered when I bought the property and found a couple inverters weren't performing to peak. I would never ever be the original purchaser of solar panels due to the extended payback period typically 12-15 yrs. Mine should cover about 35-40% of my electric bill annually. I would however not mind buying a home (as I did) with them already installed and baked in to the market price of the property effectively. FWIW I only discovered the inverters not working after my first utility bill and did some quick math to find the payback was like 110 yrs, so I new something was wrong and had the solar company come look...and that's when we found the shingle issues. Paid $250 for them to come out remove panels, send inverters in for warranty, and I'll be paying another 250 for replacing everything....all in all it's one big effing SCAM. One more thing is I don't have batteries, mine just feed into the grid or my home depending on energy requirements of my home. Solar is great for someone who wants or needs to be off grid, but just a neutral for someone on the grid.
This post was edited on 7/17/23 at 10:45 am
Posted on 7/17/23 at 10:33 am to TBoy
quote:
Power was down until they could install a setup that allowed backflow.
Maybe we are having some terminology issues, but I am not aware of a device that needs to be installed to "allow" backflow (and the term is backfeed). They install devices that prevent backfeed, ala, a disconnect between house and utility, because backfeed is dangerous in an outage situation.
quote:
the 90 year old lady was very happy it did.
Just curious if you know, why was she happy about being out of power?
Posted on 7/17/23 at 10:36 am to Tigrenutz
quote:
all in all it's one big effing SCAM.
This. Don’t tell Billjamin this though. His livelihood is tied into the industry and can’t see the reality.
Posted on 7/17/23 at 10:37 am to Billy Blanks
quote:
This. Don’t tell Billjamin this though. His livelihood is tied into the industry and can’t see the reality.
flailing Posted on 7/17/23 at 10:44 am to Tigrenutz
Is it an Enphase system?
How did you come up with the production for your offset?
How did you come up with the production for your offset?
This post was edited on 7/17/23 at 11:10 am
Posted on 7/17/23 at 11:51 am to billjamin
Actually, with 30 years experience in energy, nuclear, fossil fuels, hydro, and renewables, I do. 23% capacity factor for solar, 30% for wind. You need baseload generation. Not intermittent renewables.
Posted on 7/17/23 at 11:57 am to Deplorableinohio
quote:
Actually, with 30 years experience in energy, nuclear, fossil fuels, hydro, and renewables, I do. 23% capacity factor for solar, 30% for wind. You need baseload generation. Not intermittent renewables.
You’re applying utility scale logic to resi. There are easy ways to get the correct TSRF data.
Posted on 7/17/23 at 11:59 am to billjamin
quote:
They aren’t a scam.
Maybe not but there are many salesmen who aren't honest about their benefits.
I've seen reports locally (Knoxville, TN) that Salesmen/contractors have been dishonest in their sales pitch. Same in Atlanta and Florida.
Posted on 7/17/23 at 12:44 pm to MisslePig
quote:
Is this a scam or is it worth it?
I live in Santa Fe, some friends came over to cook out yesterday and said their attempt to have solar panels installed on their flat roof ($36k/$18k after "subsidies") is being stymied by their HOA. I said go figure. Then I asked why they wanted them as the homes here are quite good at maintaining comfortable temps year round and he wants to buy an EV and wants a mid-level charger and I said your HOA might be saving you a lot of money. Personally, I think panels on these flat roofs are a bad idea especially with snow/ice sitting on them sometimes for weeks.
Posted on 7/17/23 at 12:49 pm to greenbean
quote:
I've seen some illustrations where they are using solar panels for patio covers. That may make sense, but not on your roof.
Guy on my street built a pergola like patio and put solar panels on the top. Not sure how much juice it provides or what it powers. He's an old curmudgeon I don't speak to.
But, yes, that strategy seems better.
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