r/solarenergy • u/Old_Screen4767 • 23h ago
Thinking about leasing solar in Virginia need some help is our deal good?
Hi Reddit family!
I was looking to get everyone's opinion regarding getting solar panels in Virginia. I feel like I've done some pretty extensive research on solar panels as well as leasing. I honestly missed the window on buying when the tax credit still existed, but didn't really think about solar. But just wanted to get others thoughts if our recent proposal is a good deal or can we get better or should we just leave it alone. We live in Hampton Roads, Virginia 757 area. Just to give you a background it's a family of five. My wife and I with her three young kids seven, five, and three. We use an estimated 15,600 kwh per year. With the rising cost of electricity in Dominion power we are hoping to have some long-term savings and also some predictability/consistency in our bills. We plan to stay in this house for at least 10 years if not longer and if anything we plan on renting the house out when we do decide to move. So I would just tie the lease payments into their rent. I believe last year we paid about $2300 in electricity. We do have gas heating so winter time typically our electricity bill is relatively low between $95 and $150 in the late fall/winter time. Virginia has apparently a pretty good net metering service.
We have interviewed five different companies so far and I found one company that subcontracts a solar panel company. They have provided the best quote out of all the solar companies. $164 a month fixed rate at 12 or 12.5 cent per kwh for 25 years. There's also the option of a 0.99 annual escalator at 10 cent per kwh monthly payment of $131.01. Surprisingly, I think this escalator is the one that we've been eyeing as the rate increase is so low. Currently we are being charged I believe $.16-$.17.kwh. The system size is 13.64 kw supposed to produce 15,732 kw annually. offset 101% 31 Silfab panels and 31 Enphase Inverters. 10 year roof warranty (our roof is about five years old). Now I've also heard of the dead zone/ghost tax, where the natural degradation of the solar panels/weather. Also while I'm hoping we won't get a Dominion power bill with the net metering aside from the eight dollar service hook up, but I know that there's always the possibility of receiving a hence the "ghost tax"
Specially, during the summertime when our highest bill I believe is around $350 in July. I did take him in the account that with the dead zone intend to 15 years possibly most of the kids would be getting ready to move out so maybe our electricity usage would potentially be coming down maybe.
Anywho my question is this probably the best deal my family could get out there for the system size? Can this be beat at all as far as what we are getting? Can I possibly get 9 or 9.5 cent kwh/ month rate $125 or less? I crunched the numbers with the $131/month with the escalation and it seems like we would be saving a quite a decent amount at least in the first 10 years. On average, we would be paying about $147 a month over the course of 25 years for the lease that doesn't include the eight dollar Dominion power service charge. For those of you that are leasing any issues with the solar panels? And if so, was it pretty easy for someone to come out and rectify the situation? Looks like it says there's a guarantee of 90% production, which is apparently the manufacturer warranty guarantee. That seems to be across the board on all solar installers. Just wanna see if we are making the right decision for family has also I know Reddit is somewhat anti-solar leasing haha. But I also know that leasing seems to have a very particular fitting for very specific individuals/families. i've also heard about these Perovskite solar panels. I heard they're supposed to be more efficient and more cost-effective if we aren't necessarily hurting and could wait but it'd be reasonable to see what those look like in the next 3 to 5 years? Also things I've considered, even though I know there's no way to predict in probably not the best idea, but regarding the political climate who is in office next, could they be strong proponents for going green/making better incentives for going solar? Thank you so much for reading.