EnvironmentalAd550 t1_j92rixj wrote on February 18, 2023 at 8:12 PM

If this means you'll be leasing the panels you should pass. If you don't own the panels then the install company can take the income you would normally get from having panels like renewable energy credits. This is why some companies go door to door and set up in malls and Best Buys. They shouldn't be trusted.

We own our panels and have earned a sizable credit with National Grid so even if we produce less than we use we don't pay a bill. This is because MA has net metering. We also get a couple hundred dollars a quarter from the sale of our production due to solar renewable energy credits. So it's basically getting paid twice for the energy we produce.

I have also heard that since the company owns the panels they can interfere with selling the house and the panels can't be included in house appraisal.

If they are offering this deal and still letting you own your system then it's great, I doubt that this is the case.

Cheesepit t1_j93jarc wrote on February 18, 2023 at 11:39 PM

Which company helped you install the panels?

EnvironmentalAd550 t1_j93tsbv wrote on February 19, 2023 at 1:01 AM

We used SunBug Solar. Our friends used them and highly recommend them. We've sent many of our friends to them, they were terrific.

They came out to do a quick assessment of the roof, shade, attic, electrical panel capacity and discuss our expectations for how much of our electricity we wanted the system to cover. They were also helpful with how it works in MA, the state of the Solar Renewable Energy Credit (srec) program and also the MA Dept. Of Energy Resources (DOER).

They came back with a couple quote options and we haven't regretted it once.

This was a while ago so things may have changed but I know net metering is still happening. SRECs may not be but I believe there is still a renewable energy credit program. There's likely a federal and state tax credit as well and it all helps get the total cost down.

When we got them MA had capped interest rates on solar loans around 3% but we called a number of banks and secured a loan at 1.25%.

We also have zero shade on our roof so we have great production. They have paid for themselves. SunBug should also be able to give you an estimate for your return on investment.