Solar panel sizing?

[gabeincal]

So got a couple more quotes and it seems based on my anticipated usage, a 4kW system will be great offsetting 90-95% of my electricity bill in a worst case scenario. Cash price on the system with Panasonic panels is around $16.3k before any incentive. I think I'm going to go for it, I just don't like how finance companies hit you with a finance charge. This same amount will be financed at $111 per month for 12 years + they take my tax incentive which then equals to around $21.6k... Which would mean, if I just paid cash, I'd be 10k better off. Am I missing something...?

 

[dhrivnak]

That seems expensive. I have 8.3 KW and I paid $19k three years ago. At $200/ month you are paying $24k for a system 25% smaller. So I would get another quote or two.

 

[gabeincal]

That seems expensive. I have 8.3 KW and I paid $19k three years ago. At $200/ month you are paying $24k for a system 25% smaller. So I would get another quote or two.

Well the cash price of this 4kW system AFTER tax incentives is $9.5k. So there's that... What is your price? Loan price, cash price, before incentive or after?

 

[dhrivnak]

Well the cash price of this 4kW system AFTER tax incentives is $9.5k. So there's that... What is your price? Loan price, cash price, before incentive or after?

Cash after federal rebate.

 

[Patrick0101]

@swaltner beat me to the punch to list: PVWatts Calculator

Here is my article about sizing your PV system to cover EV driving:
Cars With Cords: Charging an EV with Solar Panels

 

[Ampster]

Am I missing something?

Yes you are missing the market and possibly overpaying.
If the cash price is $16,000 for a 4kW system that is $4/Watt, which is what I paid for a system 3 years ago. There may be some locational and site specific things that may account for the fact that your price is higher than market. Earlier in this thread, @nwdiver said you should not pay more than $3/Watt.
I also don't understand how you figured a $7,500 incentive unless there are state or local incentives. The Federal ITC is 30% which would only be $4,800.

 

[gabeincal]

System size (kW) 4.2
Cash price 16325
Cash price after incentive 11427.5
Loan price 18819
Monthly payment 111
Loan term (months) 144
Loan SUM 15984
Loan SUM+incent 21629.7

@Ampster sorry, I mixed up my numbers a little. So the best quote so far looks like this. Still, it looks like if I take out a loan, the difference between cash after incentive and loan is about 10k or almost double the cost. Based on this, I might just wait a little and do cash..

I would imagine, the price is reflecting high labor price in the Bay Area..? Not quite sure as nobody gives me a breakdown of parts vs labor...

 

[miimura]

I would imagine, the price is reflecting high labor price in the Bay Area..? Not quite sure as nobody gives me a breakdown of parts vs labor...

There are a lot of costs besides the parts and installation labor. They will also prepare documents for building permits, go to your local jurisdiction and pull the permit, pay the permit fee, file paperwork with the utility for your interconnection, come back to the site to wait for and meet with the inspector, etc.

Regardless of all of that, I would get at least two more competitive quotes.

 

[four-walling]

This solar website was great at helping me make a knowledgeable urchase of my solar system.

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