Roof top Solar Panels
03-19-2012, 01:34 PM
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Roof top Solar Panels
Hey guys so in light of me recently purchasing a house Iv been looking into getting solar panels for the roof of my house.
Now at this point I cant afford to buy them outright so Im looking into either renting my roof top surface to a solar panel company, or financing my own panels.
Im just wondering if anyone has already committed to this and has any experience to share. Or whether someone has come across something I havent that I should be concerned about with this decision.
My main concern is that its a longterm investment idea. That means that the panels need to be able to produce high levels of efficiency in the long run and not just the first 10 years or less. It also concerns me about the longterm reliability of a company that could simply disappear when trouble arises.
Maybe Im looking into this too much, or maybe not enough. But I would apprecaite any input anyone has, thanks!
-Brad
Now at this point I cant afford to buy them outright so Im looking into either renting my roof top surface to a solar panel company, or financing my own panels.
Im just wondering if anyone has already committed to this and has any experience to share. Or whether someone has come across something I havent that I should be concerned about with this decision.
My main concern is that its a longterm investment idea. That means that the panels need to be able to produce high levels of efficiency in the long run and not just the first 10 years or less. It also concerns me about the longterm reliability of a company that could simply disappear when trouble arises.
Maybe Im looking into this too much, or maybe not enough. But I would apprecaite any input anyone has, thanks!
-Brad
03-19-2012, 02:00 PM
#2
If you are looking to break even with electrical rates at 7.5 - 9 cents per kw/hr that you currently pay for your home consumption, the payback period is going to be well over 10 years, maybe 20. The reason solar is somewhat attractive now is if you are able to sell electricity back to the grid at 70 cents per kilowatt hour. If you can do that the payback is much shorter and you can get a decent ROI on a purchase plan.
Renting roof top space isn't going to net you much of an income. I looked at a setup for a commercial flat roof building that would be the size of maybe 6 very large residential homes and all they wanted to pay was about $2,000 a year in rent. It may sound like a great thing for the environment, but in terms of payback and ROI the only thing that is somewhat attractive is being able to purchase a system and sell hydro back to the grid as a small FIT. The rates Ontario Hydro will pay for solar energy are dropping, rates will be dropping by the fall of this year and will continue to drop in the future. The Ontario Government may not even be interested in small FIT producers going into the future, focusing on larger FITs.
If Ontario Hydro will purchase power from you they will lock in for a 20 year rate which is great, but that won't last for too long as they look to reduce their costs starting this year. If you can squeeze in and get your foot in the door go for it.
Ontario Hydro is paying 70 cents a kw/hr to buy hydro and they sell it back to consumers for 7.5 cents, wonder why they are so much in debt ?
Renting roof top space isn't going to net you much of an income. I looked at a setup for a commercial flat roof building that would be the size of maybe 6 very large residential homes and all they wanted to pay was about $2,000 a year in rent. It may sound like a great thing for the environment, but in terms of payback and ROI the only thing that is somewhat attractive is being able to purchase a system and sell hydro back to the grid as a small FIT. The rates Ontario Hydro will pay for solar energy are dropping, rates will be dropping by the fall of this year and will continue to drop in the future. The Ontario Government may not even be interested in small FIT producers going into the future, focusing on larger FITs.
If Ontario Hydro will purchase power from you they will lock in for a 20 year rate which is great, but that won't last for too long as they look to reduce their costs starting this year. If you can squeeze in and get your foot in the door go for it.
Ontario Hydro is paying 70 cents a kw/hr to buy hydro and they sell it back to consumers for 7.5 cents, wonder why they are so much in debt ?
03-20-2012, 05:03 AM
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My in-laws bought a bunch of solar panels and shipped them over to to their new house in Portugal, since they have ~3000sqft house and electricity is so expensive there I guess it made sense. They have the traditional clay tile roof on the house so they're putting them on a large shop they have in the backyard.
03-20-2012, 07:03 AM
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when I saw the topic title, I thought you had lost your marbles and wanted to cover your hard top with solar panels... lol
Anyone else have any personal experience?
03-20-2012, 04:16 PM
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look into the OPA FIT program. Thats the one mentioned above. Not sure if they are still giving out contracts but if you house is angled in the correct direction and you have a good amount of sunlight, go for it. It might be a minor sore thumb to look at but you're getting paid...
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