solar Loan VS Solar Lease VS Solar PPA Vs Solar Cash Purchase? A mistake can cost $10,000's
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- Опубликовано: 19 июн 2024
- There Are 4 ways to buy solar: Solar Loan VS Cash VS Solar Lease Vs Solar PPA .. a mistake can cost $10'000's.
In this video I answer common questions: Should you do a solar loan or lease? What are pros and cons of solar loan vs Solar lease? Solar lease problems when sell home? Pros and cons Solar Loan Vs Solar PPA? What you need to know. Solar PPA VS Buy .... Solar ppa explained. Selling or Buying a house with Solar PPA Or leased solar panels?
00:00 Introduction Solar panels Financing
00:16 Solar Financing Options Payments Solar Loan VS Solar Lease VS Solar PPA Vs Buy Cash. What is the difference between a solar loan and a solar lease? Solar lease vs solar loan pros and cons
01:04 Solar Monthly Payments and solar savings. Are solar leases worth it? Are solar panels financially worth it?
02:53 Solar payments solar lease and solar ppa early termination penalty
03:33 Who Keeps The Solar Tax Credit and Solar Incentives? Contractor, Finance Company or Homeowner?
03:46 Total solar Savings 25 yrs Total Monthly Payments. what is length of the Solar Lease? How long are most solar panel leases? Is it worth getting a loan for solar panels? Is it better to finance solar or pay cash?
05:00 Home Solar Energy ROI Return on investment. Are Solar leases worth it?
06:54 Solar Lease Solar PPA Who Owns solar panels
07:04 If I Sell Home with Solar Panels.selling a home with solar lease. Can I pay off my solar loan early?
08:02 Home Value With Solar Panels
09:40 Problems Buying a Home with a solar lease. Problems Selling a home with solar Lease. How do leased solar panels affect home value? why solar leases are bad
12:07 Problems taking over a solar lease.
buying a house with leased solar panels.
should i buy a house with leased solar panels?
13:00 Problems with solar lease
13:45 Who pays for solar panels maintenance Solar Panels
15:06 Can the homeowner select solar panels and equipment? Can a battery , EV Charger, or more solar panels be added?
15:34 Solar Lease and Solar PPA low-quality equipment and installation
Greg Can Be Reached at :
solarbygreengreg@gmail.com
727-219-9785 text or call
For Product Sponsorships , Solar Consulting and quote , etc 
Хобби
Greg Can Be Reached at :
solarbygreengreg@gmail.com
727-219-9785 text or call
For Product Sponsorships , Solar Consulting and quote , etc
So Cal resident here. You helped me in not signing my life over on a PPA with SunRun. This made me do the math on my 25 year cost and is would cost me over $109k over 25 years given there are zero issues with my system and i am never down for repairs. Stay away from PPA's
Yep! Go Solar but pay CASH! Even if monthly payment is more... In Cali... solar with battery if you pay cash payback probably something like 6-9 yrs vs 25 yrs on ppa! Glad you found it helpful thanks for watching!
Northern Californiareat
,,,,, boy do I wish I had found you before I got my solar system….. you information is so clear , accurate and your illustrations make it very easy to understand. I have a horrible predatory loan … not simple interest … the servicers can’t answer questions …the originator says it is all up to the servicer…..at least there is no pre payment…I was just going to pay it off to get out of it…but with the the likely event of a grid outage I feel I need the money for a battery backup system …. Thank you so much for the battery comparisons ….really feel able to make that decision .
Sorry to hear about the loan ... most loans are simple interest .. BUT here's the thing ... The solar company / installer usually pays the bank a "dealer fee" to buy down the interest rate .. kind of like buying points on a mortgage to buy down rate ... This was ok back when interest rates low it was worth it --- I was doing 2.99% fixed rate for 25 yrs, simple interest! but now interest rates gone way up dealer fees way up... So at this point I'm telling customers pay cash or get loan from a credit union ... and if interest rates drop you can refi the credit union loan..
Glad you liked the battery videos!
Thanks for watching!
Sounds like big solar black financial hole unless the owner pays upfront cash for the solar panels. Corporations made getting electricity complex to force the home owner to pay through the nose for solar panels.
Yes paying cash or at least getting own financing at a credit union is best . Yes I agree the Fossile fuel and utility companies have made it difficult and expensive to go solar …
The laws and regulations were designed for utility monopoly and fossil fuel industries … but we are making. Progress on changes … but of course utilities abd fossils industry trying to stop us.
Thanks for watching!
Thank you so much for this channel! I have a vision to open a fully solar powered gym here in Florida . I’ll be binging this channel over the next few days haha
Wow! Sounds great!
BTW My explaining loan and leases v cash is intended for homeowners... I'm against 25yrs leases for homeowners in FL because people sell home way before 25 yrs..in FL it's common after 3-5 yrs the home is sold .. home buyers in FL don't want top takeover a lease.. and the penalty for early lease termination is thousands....
For a business it's different ... they can do deprecation and other tax benifits also in building long term...
Thanks for watching!
Good info!
Keep up the good work🙏🙌
Thank you 🙌
I sell solar. This was nice to see and to learn objectively!
Glad you enjoyed it! Thanks for watching.
What about dealer fees for solar loan? 30% where I am makes lease seem more attractive, am I missing something?
It’s very confusing which is why I did this video
Lease they do a low payment at first to grab you in … but if you multiply number of payments and $ amount payments Including increasing payments They keep tax credit vs loan Stable payment you get tax credit overall loan is less … even with dealer fees most important when you sell your home no problem vs lease you need to buy out lease or have buyer take over lease. Thanks for watching
Northern California
Great! Thanks for watching!
So which is the best solar company here in las vegas, and which one do you recommend
I’m in FL so unfortunately I can’t help … but I suggest selecting a local co that’s been in solar 5 yrs +
And has solid reputation … also look at my video dark side of solar energy what salesman won’t tell you “
SE Lower Michigan
Very nice ! Thanks for watching!
In jersey if your house gets enough sun you get a free 50 year warranty roof
We sold our northeast Florida home with a solar system in 2023 and we received ZERO value for the $30,000 system. We paid cash for the system and did not get one penny back on the investment. We lost money since our homeowners insurance went up over $600/year, had a $25/month minimum bill, plus the system would need to be removed in 10-15 years when the roof needs to be replaced. Wasn’t worth it at all and we won’t make the same mistake again.
Sorry to hear that ...Why you not get a higher value for solar? Here's a article that used Zillow survey ..scroll down a bit ....Where in the U.S. Are Home Hunters Searching for Solar-Powered Properties the Most? .. in this catagory Florida is amoung top tier states where buyers looking for solar homes .... It's unusual to have $0 value for solar pv... I can only assume either the buyer was not interested in solar and therefore not a proper match to get top dollar for your home ... Many realitors would rather make a quick sale and move on to next listing rather than sitting on a home listing to find right buyer. It's simular to a home buyer who does not want to pay for the 4th bedroom or the inground pool ... THe Realitor should respomd that perhaps this is not right home for you and we should look at others...
Regarding only paying $25/month --which is utlity connection charge .. many home ownerrs wish they had a electric bill that low! Perhaps youtr not aware Duke Energy FL, TECO , FPL are all raising rates 15% or more and electric keeps going higher .. that's value of solar its an inflation hedge! Everyone homeowner needs electric it's a matter if your going to spend over $200k with utility over 25 yrs and contiue paying higher electric bills --renting your electric or buying your own solar power plant.
Regarding cost to Remove and reinstall solar for roof replacement ... I advise homeowners if they have an old roof get a new roof then solar or both at same time this way the cost to remove and reinstall is avoided ... HOwever , even with that cost solar will still save money. I actually have a video on this Is It Worth it To Remove and Reinstall Solar Panels For Roof Replacement? ruclips.net/video/QNtYtmiGwO0/видео.html
Thanks for watching
@@solarbygreengreg Different real estate agents all told us solar does not add a penny to the value of homes in our area, but “could” be an advantage if similar houses are listed for sale without solar. The property appraiser also said we do not get any extra value added for the system. We had a couple offers fall through because we had a solar system. It was also extremely hard to find an insurance carrier willing to cover the house with a solar system. We only had two options and both were significantly more expensive than not having a solar system. One buyer went as far as asking for the country of origin of the panels (ours were USA and I’m impressed he asked). The homebuyers that did purchase the house had us do a lot of work to show the system was installed correctly since their inspector was not too familiar with solar and marked a ton of issues. Fortunately, the installer did a great job and the buyers were happy. Since we paid cash through a cash-out refi at 2.875% in 2022, our payment was in essence $125/month for 30 years, then $26/month for FPL, $50 a month extra for insurance, and we didn’t even factor in the $6,000+ extra cost to have system removed and reinstalled when the roof needs to be replaced. Our solar cost ended up being more expensive than not having it, plus not getting any money back on the sale of the home.
@@iuptubaman Ahhh .. so there was an insurance problem ... All of Florida has insurance problems ....even many homes without solar ....because of companies claiming a roof has hail damage and get customer a "free" roof ... It's been in the news about Florida insurance problems raising rates for all home owners --again even wthout solar .. many insurance companies have left Florida. Then was issue of insurance companies not wanting to insure homes w/ Tier 2 solar systems (over 11.7kw) .. don't know if that was an issue for you.. I have now an insuarance company that will insure homes w/ Tier2 Solar Systems...
THe inspectors , realitors, appraisers all need to be eductated... There are appraisers that have "Green Appraisal Certifcation" --they are trained in green / energy effeceincy products and there is on all appraisals forms an area for energy effecincy .. including HVAC, Insulation, Solar ... Apparaisers are another problem... the seller or buyer cannot talk to them .. the bank / mortaga company has send it out to an agency who randomly picks an appraiser... ( After last realestate downturn laws passed bank/ mortagage co cannot pick appraiser ) The appraisals are done less than $300 .. so less time and quality to value .. just speed.. Still somewhere there the realitor should be able to make the case ... Home w/o solar $200/mo and increasing .. with solar $25/mo .. if everything else equal which would buyer be willing to pay more for ?
Reason I started youtube channel was to educate homeowners .... but I also plan on educating realtors and appaisers because there is a need for it..
Great discussion ... thanks for watching.
Louisville Kentucky
yay great to hear from KY!
The crappy state of California in San Diego where you never know what the new law will be, even after you read it. New NEM use to be 1 for 1 sale back rate, but now you get .04 cents a KW. So everyone's getting a battery.
Yes 3.0 NEM is Terrible! California has always been the innovator and policy trend setter .. that other states follow... I hope CA reverses NEM 3.0 . I'm going to be doing more battery reviews soon ... Did TEsla Powerwall 3 Battery review last month ... THanks for watching!
So cal high desert
Thanks for watching
Been watching you from the day ours was installed. Big lawsuit on the company now
Ohhhh ... Sorry to hear that Ronnie .... well hope things work out ... Most companies would rather work with custiomer rather than deal with lawsuit if you need any advice you can contact me on Facebook messenger .. SolarbyGreenGreg.
i feel like the info you are putting forward here is old. the 30% ITC gets eaten by loan company as a dealer fee or as a down payment at 15th month to keep payment low. As far as purchase the 30% ITC get eaten by having to replace the batteries in 10 years. For those reasons i believe that PPA is the best option in NEM 3.0 in SoCal where homeowner puts no money into equipment and gets all the benefits. Cash purchase is king as always but who is throwing down $70k for solar, not many. Cheers!
Good point..... before interest rates went up those low interest loans made sense ... the dealer fees vs interest savings made sense... but after interest rates rose .. dealer fees went way up that no longer made economic sense... In todays environment I recommend a credit uniion solar loan .... no dealer fees and interest rates modest ... but can be refinanced later on when interest rates drop...
PPA's for homeowners I remain skeptical ....but I'm open to taking another look if your willing to share details of contract and the math..
@@solarbygreengreghow do you get a credit union solar loan and can you name a few
Very true. Here in Southern California, there are basically NO tax incentives anymore. I'm getting the PPA with 2 Tesla batteries for storage. We have a pool and a hybrid vehicle, so we need more power.
I don’t know for California but you can call credit unions and also ask the solar contractors they should know some .
PPA replaces and repairs panels and system through the 25 years, no cost to homeowner, as long as it's normal wear. Also if you get the Tesla batteries for storage, those batteries are $15k and wear out in 10 years, again PPA with SunRun replaces those batteries, no cost to homeowner, saving possibly $30k+. Also, remember, the PPA payments are the cost of the "power," not the equipment. So, add up all electrical bills for 25 years, including A/C, pool equipment and all other costs, you do save with PPA. SunRun will move the system to a new location if you decide to move to another home. PPA is perfect because after 25 years, the system is old and no one wants to buy it anyway. When the PPA is over (25 years), homeowner can let the company have it back, it's obsolete.
Sounds like your really hyped on PPA .... but it's simular to lease except paying by kWh instead of monthly payment ... if you add up all the payments on a PPA vs buying solar .. plus maintenance .... which is very little since mfrs warranty equipment ... Cash is still less ... For PPA they have all same costs then added profit right ? Perhaps a case on PPA can be made if homeowner can't use tax credit .. Thanks for watching.
@@solarbygreengreg here in Southern California, there are no more "tax credits" for solar. We purchased a system 2 years ago and got a tax credit but those are no longer being offered here. The total for new system, PPA with more panels and 2 Tesla batteries will only be $230.00/month. We will be able to power our pool equipment, A/C and charge our hybrid vehicle and it will be less than paying SCE (hopefully). That's the plan anyway. We have plenty of sunshine year around here. SCE bill in summer is more than $700/month because of A/C, it's very hot here in the high desert.
The 30% federal tax credit iTC investment tax credit is still available though 2034.
Wish you the best with your solar
Thanks for watching.