Solar?
What do you know about solar power?
Although solar panels look funny on tile roofs they are common in California where solar becomes a requirement on new homes in 2020.
Recently on Facebook, there was an offer to check out solar so I bit and it was determined we might qualify for Tax Credits on solar installation. The presentation was very professional so I agreed to a meeting.
Chris, the technician knew his stuff. I gathered up electric bills for the last year and he had an aerial picture of my home giving him needed dimensions etc.
Chris determined that to offset our average electric bill we’d need 33 panels qcell at 315 watts. Didn’t mean much to me, but based on our usage we could almost completely eliminate our electric bill.
Of course, the $64 question was how much does this cost?
$43,000 if we use their financing option for 15 years with 30% or about $13,000 knocked off with the federal tax credit. If we paid cash the initial cost would drop to $39,000.
Interestingly the monthly payments on the 15-year plan were almost equal to our electric bills.
So, with no money down and applying for the tax credits we could install solar and nearly eliminate our West Star bills.
That’s a no brainer, right?
Well, maybe not quite that easy.
First, what about the ascetics? About 80% of the east side of our roof would need to be covered. Since we are kind of proud of our home’s look, this is a big issue.
What about the roof? Kurt Steinkuhler said if installed correctly solar panels shouldn’t be a problem, but he would not put them on an older roof like mine. So maybe a new roof comes first?
What about insurance premiums?
The solar company said in most cases insurance companies see solar as an enhancement to home thus adding value creating the need for more protection.
Insurance agent Chris Metcalf did some checking and found several different ways solar panels are handled by insurance companies including adding an endorsement, but all increase premiums. Conclusion: increased insurance cost is not a major impediment, but premiums will increase.
So, for Bobbi and me while solar would be a basic break-even deal and add value to our house the fact we probably won’t live there for fifteen more years and neither of us particularly like the way solar panels look on houses we are not adding solar.
But for Bobbi’s daughter who is building a home in the country near Lawrence solar might make sense – especially with high power rates in the country.
This has been an interesting exercise and I feel a little more educated on solar power and hope you do too.
I’m Steve Sauder.
