Hi,
I just got my system design and proposal. We're in NJ and I'd like any feedback, ideas, suggestions as we're new to the whole solar thing.
Size: 17.33 kW ( 15,690 kWh estimated production in first year, 90% energy offset ). I have a model S which uses about 25 kWh / day to charge for my commute. Our total average daily consumption as of last month was 40kWh and I expect that to go up to about almost 50 kWh during the summer with A/C and pool. Our cost per kWh is about $0.16....yeah....ouch....
Powerwalls: 0 - even though we had asked them to include them, need to find out why they didn't include them
1. Solar Power System - $49,376
2. Pre-Construction Costs - $13,500 - They say I need to replace current roof, which is about 15 years old and showing some signs of wear and is probably the second layer of shingles on a 34 year old home so would be a tear off job.
3. Upfront Incentives/Rebates: -$9,529 - this is due to NJ SREC credit. This I really don't understand very well. At a basic level I believe for every 1000 kWh produced, an SREC is earned which can be sold on a market. Right now, it looks like SRECs are being sold for about $220, so that should be about $3,300 for the first year alone. The contract seems to indicate that Tesla will give me the $9,529 credit but that's all I'm entitled to. Has anyone else dealt with this? Is there any reason I can't sell these credits separately? Seems like a sweet deal for Tesla.
4. Federal Tax Credit: $14,813
So, if I look at cost / kW as being $49, 376 - tax credit of $14, 813 divided by a rate of 17.33kW that seems to be about $1.99/kW. Am I thinking about that correctly? Seems like a good price. Main negative would be if they won't allow me to independently claim the SRECs. Can anyone tell me if I produce 15 mWh / year does that mean I get 15 new SRECs each year? so in other words if that's worth $3300 per year I can get that in perpetuity ( I do believe that SREC market will decline about $10/SREC/year, but still, even with that, over 10 years, thats $26,250 or $37,500 over 20 years ) which would go along way to covering any loan cost. The re-roof might be a little premature but I'm not too worried about it. Might be able to save a few dollars if we got quotes from other contractors but then again, this is NJ.
One last Q. We had a guy out from Sunrun to give us a quote. he mentioned that it is illegal to store electricity residentially in NJ and so Powerwalls are useless. I can't find anything about that and Tesla said no but has anyone come across anything like this or was that just Sales BS? Wondering more since Tesla didn't include Powerwalls in quote. Also wondering if it's worth getting Powerwalls vs relying on net metering for cost savings at night time reliance on utility company. Other reason was to have a way to deal with power outages but could also do backup generator and save a few K.
Again, any input is welcome.
I just got my system design and proposal. We're in NJ and I'd like any feedback, ideas, suggestions as we're new to the whole solar thing.
Size: 17.33 kW ( 15,690 kWh estimated production in first year, 90% energy offset ). I have a model S which uses about 25 kWh / day to charge for my commute. Our total average daily consumption as of last month was 40kWh and I expect that to go up to about almost 50 kWh during the summer with A/C and pool. Our cost per kWh is about $0.16....yeah....ouch....
Powerwalls: 0 - even though we had asked them to include them, need to find out why they didn't include them
1. Solar Power System - $49,376
2. Pre-Construction Costs - $13,500 - They say I need to replace current roof, which is about 15 years old and showing some signs of wear and is probably the second layer of shingles on a 34 year old home so would be a tear off job.
3. Upfront Incentives/Rebates: -$9,529 - this is due to NJ SREC credit. This I really don't understand very well. At a basic level I believe for every 1000 kWh produced, an SREC is earned which can be sold on a market. Right now, it looks like SRECs are being sold for about $220, so that should be about $3,300 for the first year alone. The contract seems to indicate that Tesla will give me the $9,529 credit but that's all I'm entitled to. Has anyone else dealt with this? Is there any reason I can't sell these credits separately? Seems like a sweet deal for Tesla.
4. Federal Tax Credit: $14,813
So, if I look at cost / kW as being $49, 376 - tax credit of $14, 813 divided by a rate of 17.33kW that seems to be about $1.99/kW. Am I thinking about that correctly? Seems like a good price. Main negative would be if they won't allow me to independently claim the SRECs. Can anyone tell me if I produce 15 mWh / year does that mean I get 15 new SRECs each year? so in other words if that's worth $3300 per year I can get that in perpetuity ( I do believe that SREC market will decline about $10/SREC/year, but still, even with that, over 10 years, thats $26,250 or $37,500 over 20 years ) which would go along way to covering any loan cost. The re-roof might be a little premature but I'm not too worried about it. Might be able to save a few dollars if we got quotes from other contractors but then again, this is NJ.
One last Q. We had a guy out from Sunrun to give us a quote. he mentioned that it is illegal to store electricity residentially in NJ and so Powerwalls are useless. I can't find anything about that and Tesla said no but has anyone come across anything like this or was that just Sales BS? Wondering more since Tesla didn't include Powerwalls in quote. Also wondering if it's worth getting Powerwalls vs relying on net metering for cost savings at night time reliance on utility company. Other reason was to have a way to deal with power outages but could also do backup generator and save a few K.
Again, any input is welcome.
