In 2021, customers have reported 3,320 attempted scams related to electric companies claiming to be associated with FPL Home. The electric company claims that homeowner’s insurance won’t cover the cost if any parts break to your exterior electrical lines. Several insurance companies agree, saying with insurance, deductibles often at $1,000.
Homeowners may receive letters encouraging them to sign up for “Exterior Water Line” protection plans from FPL Home. However, most of the exterior system is the power company’s responsibility, and homeowners are unaware that an exterior electrical system breakdown on their property is likely their responsibility to fix. FPL Home offers Exterior Electrical Protection Plans, but only 4,450 exterior water and sewer claims were made from the 126,207 claims.
Scammers are targeting hard-pressed households with fake offers of refunds, government grants, demands for repayments, and bogus energy-saving devices. AMT Warranty Corp. is responsible for providing the Exterior Electrical Line Protection Plan to customers, and the delivery of service benefits is provided by all major utility companies. The letter claims that it costs $2,587 to repair an exterior water line, and you probably already know how much you paid for your water heater.
Practical tips to help homeowners decide whether buying water line insurance from utility companies to repair outside leaking pipes is worth the cost are provided in these legitimate, co-branded mailers from both Xcel Energy and HomeServe.
📹 Home solar panels are literally a scam
✉️ Email me: [email protected] Sources & visuals: ———————– ———————– All materials in these videos are used …
What is the electrical box on the outside of the house called?
Breaker boxes are typically located near the electric meter, often on an exterior wall facing the street or in a designated utility area on your property. They may also be located on the side or rear of the house. Flipping the main breaker in your outside breaker box shuts off power to your entire house, which can be useful in emergencies, electrical work, or maintaining your electrical system. However, flipping the main breaker should be done cautiously and only when necessary, as turning off the breaker cuts power to all circuits, causing lights and appliances to lose power until they are turned back on.
What is the electrical box outside my house?
The breaker box outside the house regulates the flow of electricity to your home, ensuring that your appliances and devices receive the necessary power. It is located outside the house to provide easier access for electrical workers and emergency responders, eliminating the need for them to enter your home during emergencies or power outages. Additionally, having your electrical boxes outside the house allows for more space for maintenance and repairs, making it a necessary component of the electrical system. Many residential homes are designed this way for safety purposes.
Is it better to have an electrical panel outside or inside?
In the United States, electrical breaker panels may be installed in either an indoor or an outdoor setting, provided that they are rated for outdoor use. Some panels are designed with the meter base and breaker panel integrated for the purpose of facilitating installation.
What cladding to avoid?
Cladding materials like ACM, high-pressure laminate (HPL), and metal-based materials like Metal Composite Materials (MCM) have been linked to fire risks. Wood, traditionally used as cladding, can also pose a risk as it increases the opportunity for fire to take hold. While timber is used in some parts of buildings without causing fires, cladding with wood increases the risk. While stone or cement are sometimes used for wall cladding, they pose no greater fire risk than the building’s original materials but can be heavy, making them unsuitable for roof cladding.
What is the problem with external cladding?
Cladding, designed for durability and protection, can deteriorate over time due to factors like weather exposure, moisture retention, poor installation, and lack of maintenance. Environmental factors, such as bad weather and pollution, can be detrimental when cladding is not maintained. Common issues faced by commercial and domestic property owners include mould and mildew growth, which thrive in moist environments and spread quickly. The main causes of these problems are moisture accumulation and inadequate ventilation.
Is external cladding a good idea?
Composite cladding offers thermal insulation and protection against extreme weather conditions, as it is water-resistant and prevents excess moisture and condensation from absorbing. This is a significant improvement over wood cladding, which can expand and contract with temperature changes, causing cracks and splitting. Additionally, composite cladding adds value to homes due to its durability and lifespan of 25 years, making it an attractive and cost-effective option for exterior walls.
What is exterior electrical?
Exterior Electric refers to the electrical energy charges for common areas of the property outside the building. Building systems include mechanical, electrical, plumbing, sanitary, sprinkler, heating, ventilation, air conditioning, security, life-safety, elevator, and other service facilities. Landscape waste includes vegetable or plant waste, except garbage. Electrical cleaner is a product labeled to remove heavy soils from electrical equipment, including motors, armatures, relays, electric panels, or generators.
It does not include general purpose cleaners, degreasers, damping aids, energized electrical cleaners, pressurized gas dusters, engine degreasers, anti-static products, or products designed to clean electrical equipment casings or housings.
What is an exterior cladding system?
Cladding in construction is a layer of material applied over another to provide thermal insulation, weather resistance, and improve building appearance. It can be made of wood, metal, brick, vinyl, or composite materials like aluminum, wood, cement blends, recycled polystyrene, or wheat/rice straw fibers. The materials used affect fire vulnerability. Rainscreen cladding is a weather cladding that protects against elements while offering thermal insulation. It does not need to be waterproof, but rather serves as a control element to direct water or wind away, preventing infiltration into the building structure.
What is the electrical panel on the outside of the house called?
Breaker boxes are typically located near the electric meter, often on an exterior wall facing the street or in a designated utility area on your property. They may also be located on the side or rear of the house. Flipping the main breaker in your outside breaker box shuts off power to your entire house, which can be useful in emergencies, electrical work, or maintaining your electrical system. However, flipping the main breaker should be done cautiously and only when necessary, as turning off the breaker cuts power to all circuits, causing lights and appliances to lose power until they are turned back on.
Why is cladding a problem?
Polyethylene, a plastic material, behaves differently than most structural building materials under severe fire conditions. It becomes fuel, inflaming and spreading fire. Tall building façades with panels with thin aluminum veneers mounted on a polyethylene core can potentially transfer a fire quickly from one floor to another, leading to disastrous consequences. Modern building codes, standards, and regulations have learned from this issue and now require façades to be constructed from non-combustible materials. Façades may burn, spall, deform, and break glass, but they cannot add fuel to a fire.
📹 Teen made $28M through scams, bank fraud, police say
A teen in metro Atlanta is accused of running a scam that led him to gain $29 million.
I have a 1kW off-grid system with a 6kWh battery I built myself. Learned a lot. Spent less than $2,000. I produce about 4kWh per day which is about 10% of my regular electric bill. It powers all of the important stuff like internet and TV which is important where I live since power outages are common.The first 250 watts of panels have the quickest payoff time since every house has clocks, chargers, and other miscellaneous phantom power draws. No need to install a full system all at once. Build gradually over time and analyze your own use and production. Don’t take out loans either.
👋We’re the family shown multiple times in this article installing our own solar panel array. I have no idea why this guy included us as we’re completely off-grid, and DIY’d our own large solar system for way less money that it would have cost to run grid power to our desert homestead. The issues with grid tied solar and predatory companies are real, but don’t really have anything to do with us. We’re very happy with our fully off-grid solar power system.
PAID ONLY $14K to install twice as many Solar Panels as I needed (not going to explain). We create way more electricity than we can ever use. I used to pay $450 an average to the electric company. Now we pay $14 a month to be connected to the grid. That’s it. BTW – I also charge my EV at zero cost at home. Off course I live in CA where we get tons of Sunlight. HUGE TIP: Get more panels than you will need by saying you are going to Install an EV, large electric appliances so they allow it. FYI – I paid cash and got a 30% Tax Credit.
My system was paid off in 16 months and the company kept doing everything they could to save me more money from making sure the home was as efficient as possible and making the inverters a bit smaller than my panels capacity so I didn’t spend thousands extra matching them to catch a few dollars more sun per year, the extra would have paid off by the time to retire the system in a few decades, vs already being done like the ones they did install. Point of the article stands though, you need to shop around and be mindful of people showing up at your door.
I did about 6 weeks of door to door sales for a local solar company here in Texas. I was not good at it so I didnt make much money. The guys who actually did the selling of these systems made damn good money. The company and guys who own/ran it were multimillionaires and in their early 30s. There was a lot I dont know about the details in how they operate but i would do my best to be transparent, honest and ethical. Like the disabled veteran who didnt qualify for the rebate. I ran into that exact situation and told they they didnt qualify and moved on. I made it a poont to tell homeowners it was a tax rebate rather that a check. But yeah I have never experienced the instant hate from some people like I did doing this job.
🎯 Key Takeaways for quick navigation: 00:40 💵 Solar companies promise big savings and government checks, but these claims are often false. 01:09 💼 Homeowners are left in debt while solar company executives profit from predatory sales tactics. 02:30 💡 Know your numbers and be cautious of door-to-door solar salespeople. 06:37 💰 Homeowners are overcharged for solar panels, loans, and interest rates, resulting in massive debt. 12:58 🚫 Many solar companies engage in fraudulent practices and rebrand to avoid lawsuits. Stay informed and research before investing in home solar energy.
The key is doing Solar right. My husband works in this industry, decided to open up his own company in hopes of truly helping homeowners understand the value when it is done right! It is a tremendous asset with the right opportunity. Sad that it is true just like any other business, some companies and people are in it for themselves, now making such a bad reputation for solar industry.
On commerical, industrial solar energy projects, return on investment breakeven point is about 3 to 5 years, after this time period, you start to make money by zero electric bills and if local utility accepts your power, pay you to provide them power. Home solar installers markup systems over 100%, so the ROI breakeven pt becomes 20 to 30 years. I would consider this gouging.
I had a big family. I paid a little over $300 an average month for electricity. I got solar with 20 year home improvement loan with a payment of $200 a month. I kept paying $300 towards my loan. ( Had about $20 electric bill for administrative changes monthly). I paid my loan off in ten years and now basically getting free electricity till I needs to rapier any panels that are still under warranty for another 10 years. Im in sunny FL…
Just to be clear, if you receive a tax refund, then you could still use the solar tax credit. A tax refund simply means you paid more to the IRS then you owed. Therefore, for example, you could pay $13,000 to the IRS through tax withholdings, but only owe $10,000 when you file and get $3,000 back as a refund. That $10,000 you owed, could be reduced by the Solar Tax Credit. So, you really need to focus on what you actually pay in taxes (not the refund), which you can see on the return you filed.
These are very valuable rules for anybody who wants to get rich. Unfortunately, most people who will watch this article will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession– it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don’t know how they do it. I have about $109k now to put in the market.
Thanks for making this article. My family runs a hvac and solar company. 90 percent of people who ask for solar panels their homes are not suited or viable for solar panels. We would tell the customer and they would not believe it. And would go to a predatory company who will throw panels on any home. Little do they know the panels will take 30 years to pay for themselves. Especially with the liberal mind set why just want panels.
I have had about 2,000 Watts of solar panels for many years now. If you buy directly they are under a dollar per watt now. At one time we were running everything on solar power. We kept the grid for backup. The only things not on solar now are the fridge, freezer and well pump. Some other small things which dont use much power. The rest is solar. Solar power works and can save you money if you do not get cheated and pay those big companies. Buy direct. Then pay an installer.
Everyone should have a small solar system set up in time for emergencies. You can do a simple one for under 1k, enough to keep your fridge running, charge electronics and, depending on your spending a little more, run AC or Heat. I have had my power cut off many times for random reasons in ATL for hours at a time with no warning…had I not had the simple setup that I do have along with propane heat, my comfortably would have been quite different.
A 5KW capacity solar panel including installation costs 2900USD here in India which covers a will equipped home and negates the final bill amount to zero averaging it for the year ( sunny and cloudy months ) and we don’t need a battery system as we have a net metering system with the electricity supplier. So basically it pays out the entire monthly electricity costs and generate profit after year 5. These panels will last 20-25 years. What’s happening in the USA is beyond me from what I understood from the article.
My husband is an off grid expert and we have lots of solar. And I totally agree with this article. I’d love to see you do a article on the lies of electric cars. I don’t think they’re bad — we will definitely be getting one. But, I’ll never rely on electric cars. Or be fooled that EVs are good for the environment. As Tom Sowell says, “there are no solutions, only trade offs.”
Did the math and it just doesn’t calculate for me. I’d never hire someone to do it for me, but my energy consumption is too high for the size of my roof. If I’d do solar, I’d do off the grid solar and cut the cord because as long as you’re connected to the grid the utilities will nickel and dime you. Maybe the next house… I just installed a small 4 panel solar system for a elderly disabled friend as a power outage backup system. It simply powers a large enough solar generator and the house was already prewired for a gasoline generator. Nothing automatic, they simply plug the fridge and a few other things into outlets that are not connected to the grid but go to a generator. Simple but effective. They just had another outage and are so happy that all they have to do now is push a button, plug the few things they need into another outlet and done. The generator used to run out of gas every few hours and was hard to start for them, the solar generator lasts all day at their low consumption (they don’t even have a TV) and the 1000W solar panels will easily recharge the box or just run the appliances directly. $3000 well spent.
as someone who works with a solar company, specifically on the IT side, during meetings these sales guys talk about how they hoed customers and how they try to get the biggest loan possible for them in order to make a fuckload of commission. During a meeting one time, our top sales guy was bragging about how he literally screws people over for a living, and showed off his bank statements where he made like 100k in 2 months. Everyone was cheering and shit. Shits crazy almost like a cult in the solar space. And it’s crazy how much they don’t give af about people and take advantage. especially in a very low income/uneducated region i live in.
No all solar business is a problem! Problem is that people are turning back to renowned manufacturer like Panasonic Holdings from Japan (creator and developer of all PV inventions in 1960s) Meanwhile customers prefer cheaper panels from China or Korea (with not as long cycle of life as PV made by Panasonic!)
I have panels that we got through a friend and a good contractor, and we did the homework and twisted her company’s arm into the sweetest deal. Great system. Netting power income for the winter (it’s cold up here). Summer bills are 0 with AC running. Payment is cheap and structured over the loan of our forever home in a format we can profit on relative to the interest of the personal loan we’ve moved the debt over to. Would do again if done how we did it. 10/10
It all depends on what company you deal with. I purchased a solar system from KOTA. It cost 19 thousand for 8 panels. (We have a small house) I pay 65 dollars per month on my 20 year loan for the purchase. I now use my air conditioner more often, and yet I am paying ZERO in electric bill. We don’t have any battery system. Your experience may vary…..
I’ve been a solar energy consultant for 3 years and I’ve been through 4 different companies before I found the best. That’s the key. There are so many “solar companies” out there because anyone can start one. They don’t do the installations themselves but instead subcontract the work out to the actual solar installation company. Get a good, local company with great reviews, and that doesn’t subcontract out the installations. If you’re in Florida, let me know if you’re interested. I work for SunVena Solar & Roofing. We are a local, five-star rated solar installation company 🌞
Part of the problem for the consumer is that most energy retailer do not offer good solar buy back plans. There is more and more plans that pay real time rates and the delivery charges that eat up your saving (Centerpoint). I had one company that I signed up with with actual 1:1 buyback for solar (only one I found in Houston) that within a month said no longer available. Thankfully was able to get my deposit and avoid cancellation fee Smh
The most difficult part is putting up panels in the roof. Panels and Batteries are so much cheaper that you can build your own setup for 1/3 the price of what you were quoting. Additionally, you have until 2030 to build it so the gov’t can reimburse you for an additional 30% rebate. If you can mine 1.5K an hour of solar, that will give you about$300-400 savings in electricity. Your ROI will be less than a year if you do it all by yourself and its not that difficult.
Listen no matter what anyone thinks or says. If your not reducing your electric usage then your not going to see any change and a new charge. If the solar company says you need a 2 kwh. D9uble it or triple the input watts. And get a battery bank. 4 time larger then you input.. .. i have a small solar array apen 600 bucks plus tax and have not paid an electric bill in 7 plus years. Need a medium size wind turbine. Not a mirco
I started by building a small portable system inside a mobile toolbox, with 4 by 100w solar panels. This gives me about on average 1,5kw per day over here in sunny Cape Town, South Africa. My panels are not mounted on my roof, but I deploy them on my back lawn in the morning and take them in at night, due to thieves stealing them off roofs over here. This has been a blessing as we have planned power outages called “load shedding” so daytime I have a bit of power, it also cut my bill quite a bit. I am an Installation Electrician.
Not getting a refund and not having any tax liability are two separate things. For working people with a tax liability, they are getting a refund because the amount of money taken from their paychecks was higher than the amount owed minus tax deductions and credits (like the solar one). The credit can also be applied over multiple years of taxes for people that wouldn’t have seen the full benefit in a single year. Having no tax liability would be if you made no money, or made money through non-taxable income only.
One one my close friends used to be a sales person for about a year. He quit after his employer refused to give him over $2,000 in commissions that he earned. I told him to sue them but he doesn’t want to go back and forth with them. At least a lawsuit can get you more than what they owe including them paying your attorney fees if they don’t end up settling
I had solar installed a few years back. No battery for the system. Interest rate is 3%. We got the tax credit that paid off 1/4 of the loan. The electric bill was consistently lower until we choose a different electric provider that doesn’t provide buyback credits. I’m donating $10-$20 a month to my power company or I can switch to another power company that’ll charge me 2 cents more per kWh and a $15 monthly connection fee. The air conditioner runs constantly four months here. My monthly electric bill is $12-$65.
well it all depends on the region you live in and do you get sunlight, for example my house in India has solar panels installed for less than 10k$ and 3 years in and the electricity usage is already compensated, whereas my house in ohio, will take prolly around 6 more years to compensate for the cost of electricity, additionally what I love is that the realiblity of stable power connection, cuz in case of power cut, having solar during summers/winters really help out.
I went from $94 a month to $45 a month. Secret is to not use that much electricity. Granted I’m single and live by myself so leaving everything off is consistent for me. I don’t reccomend this for families, but if you are disciplined and by yourself it’s great. Also renting your property will cover it.
I sold solar for a year. And then quit. I still believe in it but I just got sick of sales. And I’m going to emt school now. I do think it helps you, as long as all circumstances are met (good sun exposure, good electric company that has a decent power credit system, and of course qualifying for the tax credit) if they didn’t have all of those I would let them know. I never screwed anyone over and my honesty benefited me. People I sold saw results and then referred me to friends and family. My best week I made 15k. This is a good article Jake but there are good solar companies/salesman out there and people who are really really happy with their solar.
As a certifieb california Electrician i had to go to recertification classes every three years so the class i was in was solar ! After about two classes we all knew the whole thing was a huge grift the contracts were redicuous and abusive and the cost was rediculous as well and the salesmen are absolute bulls%$t artest so beware folks it won’t save but cost you money !
I’m setting a goal of buying a home in 6 to 8 years, I’ve heard friends in Bakersfield paying zero dollars in electric bills due to solar panels. Now that I saw this article I’ll do a deeper research on solar energy for homes. I’m not a keen person on paying interest, I always pay in full or don’t buy it and store the money in an index fund instead of paying interest payments, that way i somewhat get the interest instead. I hope i see this comment again in the next half decade and see where i am at financially then. Thanks for the article, it was informative and a good reminder to dig deeper.
Bit misleading. I have solar myself and I’m an electrician who had no interest in installing it myself because financially it didn’t make sense vs what it costs and I make. Solar is similar to buying a home. If you don’t plan to stay there awhile it’s not worth it. Solar is worth it as most warranties are around 25years (if the company is in business) I got a warranty from the manufacture as well. If you don’t pay cash you will have a bill until you pay for the system. Typical payback period is 6-7 years. After that it’s all profit. Net metering depends on the state but typically is a bit predatory. My state only offered 75% which imo is theft. 10%-15% is fair imo to cover the cost of loss transferring the power and the net metering service. If you’re a W-2 worker you can claim exempt and pay no tax’s in. Letting you claim more each year.
DO NOT BUY THESE USELESS THINGS FROM THOSE SOLAR SALES GUYS; CHASE THEM OUT OF YOUR HOUSE AS FAST AS YOU CAN, IF YOU DON’T BELIEVE ME GOOD LUCK! THEY WILL ASK YOU TO SHOW YOUR ELECTRIC BILL THEN THEY WILL RUM NUMBERS THROUGH YOUR HEAD, DO NOT EVER BUY SOMETHING THAT YOU CAN INSTALL ALONE FOR 13K, OFF-GRID 15KW SYSTEM WITH BATTS. FOLKS, I HOPE I SAVED 1 PERSON OUT THERE.
2 things you missed, 1 most leases are for 20 years, being after that the panels no longer work. youll be lucky if they produce 5 percent. more so on the contract. the company gets paid by the electric company for your panels. lets say in 1 day, your panels make 100 bucks. 99.90 goes to the company, .10 goes on the end of your bill
I was working for a company in miami temporarily. I learned alot from them in terms of sales and outside life experience, they also made it seem like we were doing a good thing helping people as well as the environment so I wouldn’t call the door to door sales men predatory some people are unaware. There were circumstances that lead me to not be able to continue with working there thanks for this article now i see that I didn’t miss out on an opportunity god was protecting me from wrong doing.
I’m 25 now, my wife and I bought our cheap house during C19 for the interest rate of 3%. We had a solar company solicit in the morning and I told my wife “let’s see what they have to say for our entertainment.” That night we talked for 3-4 hours learning all we could. He was chomping at the bit thinking he had us. In order for him to leave I said. “Seems like a no brainer! Let me call you in the morning!” I called them months later and purchased “5” 95% “Warranted” panels they had replaced for other customers given there 98% efficiency rate guarantee for 30 years, at 10% of the value running off grid. Installed them myself…. Those panels now power all my kitchen appliances and this very PC… All for the price of a 1995 Honda. I save on average $100 a month.
Where there are power outages and sunny most of the time, the solar solution seems good for houses, shops, offices but on a larger scale to provide non stop electricity to a whole town or city doesn’t seem feasible at all and doesn’t seem to be aiding green energy revolution-many reasons out of which one is these solar panels are made by adding coal to its ingredients more than 50% secondly, there is no solution for degrading or disposing completely the end of life panels, triggering more damage and rubbish to the mother nature in turn.
I live in Rio de Janeiro, Brazil, and I had solar panels installed on my penthouse. The cost was roughly US$ 4k. That was an excellent deal. I still pay about US$25 per month for electricity because the power company charges that minimum even if one consumes zero energy. Before installing the panels I spent US$ 160 in the summer and half that the rest of the year. The panels produce more energy than I consume. The excess is sold to the power company and bought back at night or when it is cloudy. It takes about three to four years to recover the cost of the panels plus installation. Maintenance costs are zero so far, after two years. This article looks very weird to me. But I am in Brazil, maybe things are different in the US.
I have been using solar for the last 6 years. Saving around 75 dollars a month. And I pay about 30 dollars a month, which means I net around 45 dollars a month (I am not from the USA. So, such small dollar amounts). This comes to around 10 percent of my salary. The thing we did is we went for community solar, and hence, due to economies of scale, everyone was able to save massively on the upfront installation cost. Also, I will request everyone to please look into the amount of subsidies being given to Oil and gas industry in nearly every western country. So, without those subsidies, the price of oil and gas will also skyrocket. So, compare the prices without subsidies to finally decide what’s cheaper.
Solar makes sense if you live in a sunny region, buy them wholesale, and install yourself. It takes roughly 10 years to recoup your costs so anything after that is net positive for the remaining life of the system(~20 years total). If you have a battery backup, all electric appliances, and an electric car, the potential total savings can be significant if done right.
Solar return on investment works for most commercial, because most businesses operate from morning to evening, and so all or most, of the Kwh their solar systems produce get used by the building during normal business hours. Many homes use most of the power starting in late afternoon. Husband wakes up at dawn and goes to work. Then the wife gets kids off to school, and she probably has a job as well. The house sits empty all day and Kwh produced by the solar system go back to the utility at the Lower price. Then in late afternoon everyone arrives back home; Hvac is turned on, along with laundry machine and kitchen appliances. Since by then the sun is on the wane, the house draws power from utility at the Higher price. Unless you also buy a whole-house battery, that is how it works. Sorry, there is No free lunch here.
I bought solar panels for my home, paid $10k for the system. 30% refund from the government and my cost was $7K. With my SoCal electric bill, the return was 7 years to break even. The panels over generate enough for a rebate of $50/year. This is CA where the utility has to buy it back at retail rates. The panels last for 20 to 25 years. Therefore I should have free electricity for 13 to 18 years. I pay $0/month for electricity and $15/mo for being connected to the grid. What this article really says is watch out for loan sharks.
Tax credits do not need taxable income – nonrefundable tax credits do, the Residential Clean Energy Credit is nonrefundable so you’re right about it but your verbiage is wrong. If you get a refund every year, that definitely does not mean you do not qualify. Nonrefundable tax credits offset your tax liability. You might get refundable child tax credits and pay income taxes throughout the year (regular withholdings) and then get a refund, you’d still get a larger refund if you had the RCEC. Source: i do income taxes You should meet with a tax accountant or preparer if you don’t understand how the RCEC will affect your taxes.
We got solar panels 2 years ago when our electric bill jumped over 200 a month. Now paying around 120 a month on the panels and 12 to 25 dollars a month on our electric bill. So not a huge savings but it at least more consistent and if we get the panels paid off early we’re golden. But I talked to my electric company first and made calls to different companies. I didn’t use no door to door sales man.
I remember as a kid finally getting my solar cell to explore. The thrill. It was real. The problem is not in the electron and photon. It’s the scaling of an electrical power supply. A nuclear heat source scales understandably whereas large low yield thingys require more finesse. That finesse is also called excessive maintenance. Vulnerability from environmental stress. Winds, dust lightening sabotage etc..
Some honest facts about solar. When done correctly and not over paying it’s a good investment. Even Dave Ramsey approves. I know several people who have it and their total bill is considerable less and after 7-10 years paid for. You have to know how much per kilowatt you should pay. Only compare by kilowatts. Here half of the insurance companies will cancel you if you install panels.
If you wanna be successful, you must take responsibility for your emotions, not place the blame on others. In addition to making you feel more guilty about your faults, pointing the finger at others will only serve to increase your sense of personal accountability. There’s always a risk in every investment, yet people still invest and succeed. You must look outward if you wanna be successful in life…
a proper grid tie system can make the power bill zero but no they dont hand you money back nearly every state has ended the power buybacks. but what the company dont tell you thats only going to be in the summer months when winter hits and there is very few hrs of sun and in my state also 24/7 grey skies all winter those panels wont be doing anything.
I am a sales engineer for PV-Systems (industry size) in Germany. But here and there I also do home solar. Truth is most clients really don’t usually care about the investment numbers but their motiviation is mostly to be more independent. I suggest every interested buyer out there to have the investment calculation run out or pay a consultant for the evaluation. PV should not be a product, but an investment, so treat it like this.
Wholesale electricity is about 1-2 cents a KWh that after rates and fees we pay 15 cents for in the US and 2x that in Europe. You’re ALWAYS getting ripped off on electricity. But my solar panels give me electricity for about 4 cents a KWh so it’s a win. The only win you can actually have is your own renewable electricity.
Interesting that companies don’t emphasize that a tax credit is a reduction in your Federal Income Tax. A large number of people no longer pay income taxes so 30% of $0 is $0 dollars! I purchased solar panels from a great company. The salesman was very careful to not only explain the credit but also was very clear that solar panels are not a money maker. Size your system at your bear minimum need and don’t purcahse a battery unless you lose power often. I’m very happy with my system as I paid about $600 to the electric company where the previous year electric bill was over $3,000. To be clear my 2022 electric cost was $3,258 and my 2023 cost was $627 for a savings of $2,630. This is likely the best one can do (you have to live in California where the rates are outrageous). Note that the savings will be much lower if you have to finance the installation and if it ever snows the savings will be losses.
Ok picture this for a moment: What if a law was passed that required every buisness with a large parking lot (obviously some sort of minimum size requirement) to have solar panel grid overhanging the parking lot? Not only would it provide power to the buisness and possibly nearby businesses and homes, but it could potentially provide tax breaks or even passive income. And the best part is that it would provide shade and rain cover for the pedestrians using said buisness.
When we were looking for a home, we found a good one and it had solar panels. It also came with a lease for those panels. Two years paid for 30 years. I think they eventually sold it, but I felt bad for the owners (a young family) because I know they knew it was a mistake and were just hoping to get some value from the property.
I had panels put on my roof, and paid nothing to have them installed. They cost me $125 a month and they produce anywhere between $100 to $150 worth of electricity for me each month. They pretty much just pay for themselves at this point. My hope is that within the next ten years as the electric companies continue to raise the rates they will start saving me money in the long run
By this logic you should rent an apartment forever instead of buy land because it’s cheaper in the short term. Is he seriously saying we should all just trust PG&E? Recently they spiked their gas rates 300% in CA. Jake also conveniently leaves out that after they’re paid off you get near free electricity for life. This is just a article about predatory sales practices.
I’m a solar sales rep myself and I gotta say there’s a lot of bad actors in this industry. Do your homework, I see some of my competitors proposals and they are bending people over. The electric company is bad but some of these solar companies are worse. Don’t get into a PPA and be careful if you’re doing a loan. Leasing I would say is the way to go especially if you’re retired and don’t have tax liability.
It seems logical to have a solar roof, which sheds water from the building plus collects electricity from the sun. Somehow under the panels have solar water heating panels, which will cool the photoelectric panels. So that’s 3 uses from the same solar installation. I don’t know if anyone offers this yet but it makes sense to do this, someday.
So I’ve heard in a lot of these articles that you don’t get a tax refund for solar. In the state of Texas, I did. Last year I was pretty close to zero owed on taxes and I got a $5k refund for the solar. The kicker is that they disburse it over the course of 3-4 years. So the upcoming tax season I will get another $5k, and the last year I should get another $4k. So I’m not sure what I did that was different in taxes to qualify where others didn’t seem to. I am working a ton of side jobs this year so I will owe on taxes and that $5k should pay towards what I owe. The side jobs are to pay off the stupid solar loan. I wouldn’t go back and do it again. I paid $50k for 33 panels. It does lower my bill from what I was paying, especially in the summer, but the break even point is a lot further along than they lead you to believe if you don’t do your own math. I should have it paid off by the end of the year.
And the fire department flags your house for having solar panels ” Do not to enter if a fire has burning for more than 10 minutes” because of the high risk of roof collapse due to the weight of the panels. You now have added risk of an electrical fire from the panels which greatly increases if you have a battery. You are also required to inform your insurance company that you have solar panels and they will either raise your rates or discontinue fire coverage. Additionally over 95% of the solar companies do not install the panels with the structure lining up with each of your roof trusses. Now you have the weight of the panels and an enormous weight of snow on slim mounts on your 3/8″ OSB roof.
Some people are confusing mining for a special type of battery components with the silicon used in solar PV panels. Others are confusing fusion, which we can’t do yet, and fission with the half-life of its waste at 500,000 years, that needs to be secured by lots of men with guns, how much does that cost? The misinformation campaign of the entrenched energy companies is working very well.
I put 31 solar panels on one of my rental properties. I was able to use the 26% tax credit and write off the full cost for the solar panels towards the income of the rent for the lifetime of the panels (25 years). No batteries and the tenants tells me he hasn’t paid a light bill since he moved in. Cons. I was able to immediately increase the cost of the solar panels into the rent. Most renters don’t care how much light bill savings you advertise. They usually have a set amount they’re willing to pay for rent. And utilities. So in conclusion don’t recommend putting solar on rentals property
The issue is homeowners don’t understand they are buying into a dynamic commodity market of electricity, namely selling Kilowatthours, or Kwh. Important notes: 1 – Solar alone will not work during a power outage. 2 – You cannot “push the meter backwards”. The newer meters rack forward Kwh on one register and reverse Kwh in another register, and all data is time stamped by the hour. 3 – Price of power sold depends on the time of day it is sold or purchased. For example, power is cheaper from dawn until around 4 pm. Power is more expensive fro around 4 pm to 9 pm. Because it is now a time-stamped, dynamically priced power market, most homeowners are not qualified to get the most from their PV systems, and therefore they are promptly screwed, rode hard and put up wet. Most people do not understand how electricity works. Indeed most people have never understood how electricity works. And so unscrupulous sales and marketing folks swindle them big time, and folks bawl and holler and are pissed. Wait twenty years and the systems will need to be replaced.
Being from a country where solar makes all the difference. Do you research, see what is available. Do the maths and see what your needs are. Never ever buy solar systems on credit. Inverters last around 10 years, good batteries around 15 years. You’ll be replacing stuff before paying it off. Rather start small and grow your system.
Mostly paying for trash if you don’t know what you are doing. Most, well, don’t know what they are doing. People are charging crazy prices to install, knowing that it is trending. If people learned to do some of the work themselves, they wouldn’t be paying 4-5 times what they need to, like most are doing
It is simple math – $ solar panels, $ electric bill = a lot more then just paying the electric bill. ?? Will that solar panel company that sold you those panels still be in business 35 and 10 years from now?? If Not – your guarantee on the panels are no good at all ! The manufacturer of the panel to tell you to go back to the person that sold them to you. And they are now living in a big house in Florida and their house does not have solar panels !!!!
So there is a good amount of misleading information in this article (some pulled from other articles) and a lot of cherry picked incidents. Many people have great experiences with their solar system and some don’t. Just like all industries, some sales people are crap, don’t rely on them to tell you the truth or simply the correct information as they may not know your circumstances. Solar is actually worth it if you do it correctly, especially if you can diy a small “off-grid” system and build it out as you go. Plus you get the added benefit of having uninterrupted power backup, priceless for those in areas with natural disasters or power issues.
they had me sign a bunch of BS and the thing that had me say “go on” after i said nty to the f4**t salesman is him saying “so you don’t care about money. ” .. i mean i don’t, but in a tone that is trying to make me look stupid. i can only wish the worst to them after wasting all our time for 3 days i did my research and yeah my bills are still significanfly lower . so if it was under 100 a month instead of 200+ cause i paid 110 and 140 last 2 months then ok but these morons.. i don’t wanna see them next year cause its been 2 years now and they were more pressure this time but I’m gonna tell them to get out like they’re a rabid dog that doesnt belong in the yard.
You didnt mention the newest laws lobbyist have been secsessfuly pushing to charge customers a monthly minimum fee of between 30 to 50 dollars so that as well as paying a whole sale rate instead of a residential rate for excess solar power. So that money you make off the electric company goes to next to nothing if anything your now getting billed by the electric company for having the panels at all.
IDK about USA but in india solar on grid is working perfectly fine for me. I used pay 10000 INR per month ie 120 USD but after putting ongrid solar system of 10kw I get almost zero and even make few bucks in some months. it’s been 5 years I think I got ROI already. I paid 500000 for 10kw on gird system.
We got solar on our house, we switched to electric heat as well, we went from paying $3,500 a year in heating oil and propane and still having an electric bill. To fully heating the house, playing all my games and having all the electricity I need, and pay around 19 dollars a month in the winter for my electric bill, and in the summer saving the electricity in battery’s for if the power goes out. for numbers sake thats 140,000 dollars in heating oil in 40 years… and still paying electricity on top of that. now lets say i have to pay in for 40 years straight, that would be 2,000 dollars. I didnt even pay half 140k, maybe closer to 1/4th. But when you do it right and look at the math, they are worth it.
Solar-energy is great. The bad thing is that the predatory companies give it a bad name. Doing a 7kw micro inverter system with 2 axis tracking will provide me with free energy for everything, and I will still be grid tied. I am a tradesman, so that will save me a lot of money on installing fees. I live in Canada 🇨🇦 so that makes a difference also.
We have solar in our house here in Nigeria. Power outages happen every other day here and most times we don’t notice we actually pay less than half of what we used to when we first moved in. But it did take about 5 years to be this close to going off the grid and its paying off now that electricity prices in Nigeria have gone up 10x
Man that’s crazy as someone whose worked in the solar industry on all 3 levels (Sales, Operations, Construction) for a few years now, I can expand on every aspect this article touches on. I’ve always talked about how corrupt and greedy some solar companies are, predatorily taking advantage of uninformed homeowners. Wanna talk about fucked? Industry standard is cancellation clauses, you typically get a few days to cancel penalty free before the fine print kicks in and get hit with a few thousand dollars worth in fees for changing your mind. Anyone whose curious about an aspect of this article or has questions about solar in general can feel free to ask me. Also, just a note, the term “power purchase agreement” he talks about in article is misleading as while he describes does happen that term is for a different type of deal where customers purchase the energy produced from the solar company at a set rate. If you’d like to know more about this Jake feel free to DM!
A quick word of caution on some of the article clips used. You mixed in clips of people who are completely off-grid in Arizona and built their own solar installs for their power needs with the clips of grid-tied systems being sold by sales companies and panels on a roof in a snowy area. It reduces credibility in the article. The rest of the article was good information, basically summarized “Don’t trust sales people”.
The parts about the tax credit are VERY misleading here. A 1 minute search shows the IRS says “The credit is nonrefundable, so the credit amount you receive can’t exceed the amount you owe in tax. You can carry forward any excess unused credit, though, and apply it to reduce the tax you owe in future years.” In other words it reduces your tax liability and can be carried forward in future years until you’ve gotten the full credit.
Most people who have them defend having them and dismiss these articles staying facts. Why? Because they won’t admit they been took to the cleaners and hung out to dry! People hate to look like a fool, same applies to electric vehicles. I warned my neighbor about the Ford lighting electric truck. He bought it anyway, 2 months later he returned it for a Ford F150 and begrudgingly admitted I was right about everything I said. Yesterday he had called for a home solar salesman at his house talking about completely going solar. A couple hours before the salesman arrives I tried to talk him out of it, I haven’t heard anything yet but I hope he didn’t get suckered in and once again ignore my warnings. Some people are just a glutton for punishment. And the tragedy is he’s a really nice guy but like the majority of people today will claim they did their research but people generally only research what they want to hear. And they read so much of the propaganda that they dig in against any truth that goes against what they want to believe… And d this is also applied to politics as well….
I designed and built a modest solar system for my home out in the middle of nowhere; grid power wasn’t an option for me. Buying the equipment yourself would be the way to go if you are in a similar situation. Never lease the equipment because you’re just replacing one corporate entity with another. Note that the system will never pay for itself versus the monthly electric bill you would have paid. The system will require battery maintenance and/or replacements somewhere along the line. It can be done for under $5,000 as a DIY project even with top-of-the-line equipment. Just don’t expect to run a dryer or an electric stove or an air conditioner on this budget. Use your head and make compromises.
The issue is not solar but the predatory programs generated to finance these systems. Also lack of knowledge in financing by customers. People are acting surprised that there is a higher cost for a 30-year loan. I find this article Incorrect and predatory in itself. Before financing something actually do some research on anything not just solar
I pieced my 32 panel system together on my own over 2 years. No sales company, I installed myself. Payback is/was 4.3 years. Sales companies wanted more than double what I ended up spending. I literally pieced parts from different suppliers together. It took some homework, but in the end, saved a ton.
It’s always the same story: those who are too lazy to do their own research will always be the dumm ones, literally. Money always parts from the fool and flows to those who honor it. Apart from that, I paid about 6000 USD for my PV incl. battery. It’s a 5kW power plant with a 10kWh battery and net metering. Creates credits for me every month. I will break even after 5 years.
The problem is in credit or interest, where the purpose of installing solar panels is for investment instead you have to pay large interest from your own installments. But in solar energy there is no problem, indeed there is efficiency and quite complex knowledge is needed in understanding the materials needed to be able to handle it independently.
Broad strokes. There’s really good solar companies that want to help you save money and there’s not-so-good solar companies that can be misleading and predatory to make a buck. Do your research on how solar works in your state, with your power company and with the company you are considering. Get multiple quotes. Ask your neighbors who have solar already what their experience was, how their system works, and what company they went with. Again – There’s plenty of good solar companies who care and there’s plenty of predatory companies that aren’t good. It’s not all or nothing. Sensationalism sells, and this YouTube dude knows it. Solar is helping a lot of people and the planet, don’t write it off based on one person’s opinion.
One day I’d love for you to call out the ultimate problem and the cause for this issue and many others – CAPITALISM. The truth is, pure capitalism encourages greed. Companies are often left to do whatever they can to earn a profit, at consumers’ expense. Folks like to crack on governments, but it is essential for governments to put measures in place that keep greedy companies in check and protect customers. This is true for whatever sector of the economy you look at.
It’s a lot more nuanced than this. There is definitely a fair share of bad predatory behavior in this industry as it is a young industry ran by inexperienced or quick cash chasing individuals, however that does not mean that all solar companies are out to get you. I work for a local small company that focuses on energy efficiency before doing solar. Our goal is always to save the customers money over as quick of a time frame as possible. If you are looking to go solar do your due diligence and find a good company that cares about what they do. Don’t make big decisions without knowing what is happening inside and out.
I paid about 13k before refund for my system and installed myself. Super easy. I run the ac as much as i want and basically dont have a bill. Totally worth it. Sure if your dumb and totally overpay it can be not worth it but if you get a decent price and get decent sun where youre at youre gonna be happy with it. This guy is running out of content.
I want so bad to go solar where I live because it makes total sense I have it a lot of daylight and my power needs are fairly minimal. Where would someone go if they wanted to power a tiny house with fully off-grid power? Literally the only thing that I run is a computer TV heat pump and a fridge and oven range.