Jim Nelson
Platinum Member
Most of the scams are lease situations where the scammers put the panels on your roof and sell you the electricity at a reduced rate and they pocket the tax rebate and any excess power generated. You never own anything and in most cases they make it very difficult, if not impossible, to sell your home without the buyers assuming the rip off lease.
In our situation we own our system outright and the vast majority of the time it supplies more than we use. Through the net metering system we are in with our power company they buy back any excess but at a reduced rate. The generator is only a standby source and only runs when the grid is down for whatever reason. It has become common practice for the power companies to shut down when the National Weather Service predicts windy weather. This is because their outdated equipment falls apart and starts fires that have killed hundreds of people and destroyed billions of $ worth of property.
If you plan properly it saves a lot of money over time.In our case the initial investment was paid for with money my wife inherited from a great aunt who died childless and left the money to her. It was a case of either paying taxes on the money or getting a 30% tax rebate by investing in solar. Pretty easy decision.
In our situation we own our system outright and the vast majority of the time it supplies more than we use. Through the net metering system we are in with our power company they buy back any excess but at a reduced rate. The generator is only a standby source and only runs when the grid is down for whatever reason. It has become common practice for the power companies to shut down when the National Weather Service predicts windy weather. This is because their outdated equipment falls apart and starts fires that have killed hundreds of people and destroyed billions of $ worth of property.
If you plan properly it saves a lot of money over time.In our case the initial investment was paid for with money my wife inherited from a great aunt who died childless and left the money to her. It was a case of either paying taxes on the money or getting a 30% tax rebate by investing in solar. Pretty easy decision.