Hi, Anyone here purchased their solar panel through Solar City. I am curious about how the payment is calculated out. Based upon my usage, they determined that my current average utility cost to SCE is $117.00 per month. They will sell me solar panel through their MyPower purchase plan estimating at $99 per month based upon the calculation of 0.161 cents per KW produced by the panel. What I don't get is the whole balloon payment of 30% required to be paid on June 1st to buy down my rate. If by June 1st next year I pay 30% balloon payment, the calculation will drop down to $74.00 per month based upon the calculation of 0.11 cents per KW. All of this is over a 30 years payment option. The representative mention about the 30% being optional. But on Solar City website it is said required. I am confused about this 30%. I decided NOT to pay that 30% balloon payment, then I am stuck paying that $99 per month. But all of this is based upon the assumption the panel produces enough electricity to cover that cost? What if during the winter season it produces less, does that mean I have to pay more towards the payment? ========== EDIT ========= * Total System Cost is approx $22,976 * My current rate with So Cal Edison is based upon a time of use system. Peak hours 0.31 / KW, Off Peak 0.18 /KW, and Super Off Peak is 0.11 / KW. * Solar City quoted me 0.161 /kw before discount (30% balloon payment). If I use the federal tax credit to reduce my loan amount, then it is 0.11 /kw after discount. I am still unclear in California is it required that I used that federal tax credit to reduce the loan amount and what is the penalty for not doing so. 30% tax credit is a total different $$ amount to 30% balloon payment to pay down the loan amount. My questions are: 1) Is that rate they quoted a fixed rate for the duration of the contract? 2) The rate is based upon assumption of the power produced by the panel. In the winter months where I am producing less power, what does that mean? Or they have already factor that in to the price quoted? 3) Anything I should Look for? or missed? What should I look for when purchasing through Solar City?