Tesla now RENTS solar panels

[Psmoove]

Install complete and passed inspection today.

These are the panels: Q.PEAK DUO BLK-G5 : Residential & Small Commercial : U.S. & CANADA : SOLAR PANELS : PRODUCTS : Q CELLS


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What inverter did they install?

 

[bradhs]

Delta.

What inverter did they install?

 

[destructure00]

Got a text yesterday that my project proposal is ready for review, hoping to get a call this morning sometime to see what they came up with!

 

[The Karelian]

Just curious... why do you prefer to rent as opposed to a lease or purchase?

Lower capital cost, I guess. I'm actually not sure which way to go. Any suggestions will be appreciated. Would it be best to see how the electric bill shapes up before jumping in? We are buying a small park model for seasonal use only...

 

[destructure00]

I'm renting because I don't have $20k available to purchase a system, and I don't want another loan.

Rep explained to me today that even if you rent for awhile and purchase later, Tesla will still give you credit for the tax rebates. So you don't lose them by renting to start with instead of buying. Cost of purchase would be depreciated system cost minus rebate credits.

Initial estimates on savings from the large system on my house are $1500-$2000 a year after paying the $150/month rental fee. Timeline is 2-6 weeks to have the system installed and turned on. Supposed to have someone come this week for a site survey.

 

[bradhs]

I redid my worksheet. Check it out. Feel free to poke holes in it, ask me questions, etc...

• My historical usage are actual numbers. Italics are from last year. I'm in San Diego so we have three time of use tiers.
• I am using today's rates (seasonal consideration using today's seasonal rates.)
• Current Cost is my current cost for electricity.
• OFFSET is what the solar system should generate. I assume 40% generation during on-peak and 60% generation during off-peak. This is important since the rates are different for off/on peak.

 

[woferry]

So what's the total of the Current Cost cells (if you hadn't rented solar)?

And I'm still a bit confused by this whole thing (haven't really dug into the details since I already have solar), where does Tesla make their money? All they get is the monthly rental fee? None of the production credit, etc?

 

[MorrisonHiker]

So what's the total of the Current Cost cells (if you hadn't rented solar)?

And I'm still a bit confused by this whole thing (haven't really dug into the details since I already have solar), where does Tesla make their money? All they get is the monthly rental fee? None of the production credit, etc?

Tesla gets to collect federal investment tax credits for solar, state/utility incentives and renewable energy certificates in addition to the rental fees.

 

[woferry]

Thanks. In CA it seems the ITC is the only thing left, so I guess that's why they charge more here.

 

[Josuke]

I redid my worksheet. Check it out. Feel free to poke holes in it, ask me questions, etc...

• My historical usage are actual numbers. Italics are from last year. I'm in San Diego so we have three time of use tiers.
• I am using today's rates (seasonal consideration using today's seasonal rates.)
• Current Cost is my current cost for electricity.
• OFFSET is what the solar system should generate. I assume 40% generation during on-peak and 60% generation during off-peak. This is important since the rates are different for off/on peak.

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Since your credits for solar production will surpass your cost of utility electricity usage over the course of the year, do you plan on suspending your solar rental momentarily to take advantage of the credits?

 

[bradhs]

Hi Josuke, No... We are going to get rid of our other gas car and go fully electric. Replacing our BMW 750 with a Tesla Model S. That should consume the left over electricity and put us around $0 (annually) on the SDG&E side. The current consumption under Super Off-Peak is my Tesla Model 3 Performance.

Since your credits for solar production will surpass your cost of utility electricity usage over the course of the year, do you plan on suspending your solar rental momentarily to take advantage of the credits?

 

[KSilver2000]

Rep explained to me today that even if you rent for awhile and purchase later, Tesla will still give you credit for the tax rebates. So you don't lose them by renting to start with instead of buying. Cost of purchase would be depreciated system cost minus rebate credits.

I would not go by whatever a rep says. If he/she said that, I’d tell them to put it in writing from their higher ups. There is nothing written in their legal agreement stating anything close to what you mentioned.

 

[CCIE]

I would not go by whatever a rep says. If he/she said that, I’d tell them to put it in writing from their higher ups. There is nothing written in their legal agreement stating anything close to what you mentioned.

+1000. Don’t believe anything you’re told unless it’s in the contract. Even if you get an email saying something, Tesla will not honor it unless it’s in the contract.

 

[bradhs]

This is reality (a.k.a. contract):

12. Purchasing the System. If you are not in default under this Agreement, you will have an option to purchase the System at any time after five (5) years following the Interconnection Date. The Interconnection Date is the date that the System is turned on and generating power. Tesla will provide you with a purchase price, which may include any past-due payments (if applicable), upon your request to [email protected].

+1000. Don’t believe anything you’re told unless it’s in the contract. Even if you get an email saying something, Tesla will not honor it unless it’s in the contract.

 

[vickh]

This is reality (a.k.a. contract):

12. Purchasing the System. If you are not in default under this Agreement, you will have an option to purchase the System at any time after five (5) years following the Interconnection Date. The Interconnection Date is the date that the System is turned on and generating power. Tesla will provide you with a purchase price, which may include any past-due payments (if applicable), upon your request to [email protected].

avail to future buyers of the home?

 

[bradhs]

Yes, because of this:

10. Selling Your Home. If you sell your Home, you may choose to cancel or transfer this Agreement to the person buying your Home (the “Home Buyer”). If you choose to transfer, the Home Buyer must accept a subscription agreement with Tesla and will assume all of your rights and obligations under this Agreement.

avail to future buyers of the home?

 

[vickh]

Yes, because of this:

10. Selling Your Home. If you sell your Home, you may choose to cancel or transfer this Agreement to the person buying your Home (the “Home Buyer”). If you choose to transfer, the Home Buyer must accept a subscription agreement with Tesla and will assume all of your rights and obligations under this Agreement.

Perfect, hopefully the "equity" transfers if it's truly a rent to own lease.

and if you or buyer cancels, max OOP is $1500 or leave the panels as is right?

 

[bradhs]

That's correct. It's literally a no brainer if you're unsure if you will stay past 4.5 years. And even if you were to stay past 4.5 years you'd still only then begin to reap the rewards of not paying the rent fee to Tesla which is not really that much money. It's an immediate compensation to get this system today without the only ill effects being $1500 removal. (This assumes you've sized the system properly and you live in San Diego where the TOU rates are i.n.s.a.n.e.)

Perfect, hopefully the "equity" transfers if it's truly a rent to own lease.

and if you or buyer cancels, max OOP is $1500 or leave the panels as is right?

 

[vickh]

That's correct. It's literally a no brainer if you're unsure if you will stay past 4.5 years. And even if you were to stay past 4.5 years you'd still only then begin to reap the rewards of not paying the rent fee to Tesla which is not really that much money. It's an immediate compensation to get this system today without the only ill effects being $1500 removal. (This assumes you've sized the system properly and you live in San Diego where the TOU rates are i.n.s.a.n.e.)

az rates aren't as bad as CA, but it would be nice if we wouldn't have to worry about TOU use with these (3-8pm with load charge)

 

[SureValla]

I changed my mind on Tesla solar after getting a few quotes from installers to buy and running the numbers again. I don't plan to stay longterm so rental is a no brainer.'

This time when i resigned up they asked for all kinds of photos of my electric panel and meter. They also asked about my roof age. They did not do this the first time I put my deposit down.