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Just signed papers for Solar

Derek69SS

Derek69SS

Veteran Member
With rising energy prices, I decided the sooner I do it the better, and I think I got a pretty awesome deal through my cousin's company MinnSolar.

60 panels, 31,000 kWh estimated annual output.

$57,000 system, but installed as a lease rather than a purchase so my cousin is getting all the rebates and tax benefits which brings the cost down 50% to $28,500 to be paid over 6 years.

Basically, install is free, and the output of the panels makes the lease payments. At the end of the 6th year, the system is mine.

At current rates, it basically costs me nothing, but I pay my cousin instead of my electric company. If rates go up (and I expect they will) my payments do not change... 6 years of using it as a hedge against rising costs, and after 6 years it's mine free and clear.

My only cost will be adding it to my homeowners insurance, and if I add any backup power (battery) to the system, that's on me.
 
Sounds good to me :)

I will have almost 20k in my system once I mount the panels on the ground.
Your cousin must have found used panels to install so many ? Most people install 12 to 24. I'm doing 24 X 450 watts each
 
Leadhead said:
Congratulations man! Wish I could afford it...
Click to expand...
See if anyone local to you offers it as a lease. This is basically costing me nothing other than $4k first year lease payment with only a few months worth of production instead of the full year.

Mine is a pretty big system because I have a lot of energy usage and high costs due to living in the country with multiple buildings and lots of welding and air compressor usage.
 
Derek69SS said:
See if anyone local to you offers it as a lease. This is basically costing me nothing other than $4k first year lease payment with only a few months worth of production instead of the full year.

Mine is a pretty big system because I have a lot of energy usage and high costs due to living in the country with multiple buildings and lots of welding and air compressor usage.
Click to expand...
Thats a great idea. Thanks!
 
bikeron said:
How long before the EV comes into the picture? 🤔
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We have considered it for my wife's daily. It would make total sense for her use other than initial purchase costs. For me though, there's no incentive as I have a company gas card with my present employer, and I use my truck for a lot of long distance towing.
 
Funny you should mention solar today.... I spent all day hooking up my brothers solar system and firing it up for the first time......

Eight (8) Outback Radian inverters (stacked) generating 64 kilowatts

IMG_20220305_092255801.jpg

Ten (10) Outback charge controllers that will handle one hundred and sixty (160) 340 watt solar panels

IMG_20220305_092313544_HDR.jpg

And last but not least, eighteen Discovery LiFePO4 48v 130 AH batteries for a total of 2,340 AH.

IMG_20220305_092323034.jpg

This system cost my brother about $175,000.00 for parts alone, and I've been helping him get all the big stuff up. What you see in the pictures, is what I'm responsible to setup and configure.

He has a 50 acre farm and will soon go completely offgrid power.
 
kmakar said:
Funny you should mention solar today.... I spent all day hooking up my brothers solar system and firing it up for the first time......

Eight (8) Outback Radian inverters (stacked) generating 64 kilowatts

View attachment 2668

Ten (10) Outback charge controllers that will handle one hundred and sixty (160) 340 watt solar panels

View attachment 2669

And last but not least, eighteen Discovery LiFePO4 48v 130 AH batteries for a total of 2,340 AH.



This system cost my brother about $175,000.00 for parts alone, and I've been helping him get all the big stuff up. What you see in the pictures, is what I'm responsible to setup and configure.

He has a 50 acre farm and will soon go completely offgrid power.
Click to expand...

1646526471057.png
 
I know you did. Im just trying to keep it fresh in you mind. LOL.

I honestly think its the right time to do it Derek. As we all know, the rise in EV will be a rise in individual family power requirements, resourcing, and infrastructure rework. The consumer will of course pay for this in rising elec prices. And if there's anything we've learned from recent Govt decisions, the GOVT would rather push through a bad decision rather than say they are wrong or put a hold on something till it gets better. I foresee prices will rise for these products as demand rises over the next few years. Shoot, now we are hearing (especially in FL) that the power companies are trying to put a stop or limit renewable energy for consumers. They are / will be losing consumers and that means less money for them and less money for them to rework infrastructure to support EV and power station upgrades. Which again means they will charge even more for the remaining consumers.
 
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