Vivint Solar - any experiences?

We just had a preliminary consult (referral from a neighbor, knock on door kind of thing) with a rep from Vivint Solar. Their scheme is:

• Pay nothing
• Have panels mounted on your house for a min. of 20 years
• They own them
• Pay $0.15/kWh for 20 years
• If you use more than the output you pay SDG&E
• After 20 years you own them, but not because you're leasing them - a question I asked. I was told it was because they'd depreciated fully.
• They kept stressing we pay nothing

My concerns are:

• The price of energy over the next 20 years could fall below $0.15/kWh. $0.15/kWh is what we're currently paying for Tier 1 service from SDG&E and we're getting up to Tier 4 service nearly every month @ $0.30/kWh.
• The technology will be fairly outdated in 20 years. PV panels with mounting brackets seem to be outdated now, even. I'll need to research the panels they intend on installing - they didn't leave that information.
• I don't believe they install a battery to store extra power for evenings. Looks like we'll be on the grid at night. I didn't think to ask about this while she was here.
• If we move the FAQ states they'll "help switch your PPA to the new homeowner." When I asked her about this she said something about the purchase agreement with the buyer transitioning the system to them. I think they may put a lien on the house.

Does anyone have experience with this company or a similar setup? My entire neighborhood is getting panels through these guys. 3 installations on my block this week.

PlutoISaPlanet said:

Does anyone have experience with this company or a similar setup? My entire neighborhood is getting panels through these guys. 3 installations on my block this week.

Click to expand...

I'm not familiar with them or this kind of setup but I would really suggest getting a contractor to also give you a quote so you can see the ROI difference. I would expect that in your area you should be able to pay off the system in much less than 10 years and then after that being getting free electricity, vs paying $.15 per kwh for 20 years.

The cost of electricity when you buy is $.06 per kwh for 20 years (this includes the entire cost of the system). It will cost you 2 1/2 times more for electricity if you do the PPA.


After 20 years you own them, but not because you're leasing them - a question I asked. I was told it was because they'd depreciated fully.

Not happening. Quote from a typical PPA- "The purchase price will be the greater of[/b] (i) fair market value, as determined at the time ("FMV") and (ii) the minimum price set forth in Exhibit A.

Annually, ****** will determine the FMV of the Solar Facility by hiring an independent appraiser to estimate the value of a comparable in-service solar facility in your state and utility service area. This valuation will take into account the Solar Facility’s age; location; size; and other market characteristics such as equipment type and equipment operating, maintenance and service costs, value of electricity in your area, and any applicable solar incentives".


The price of energy over the next 20 years could fall below $0.15/kWh.

Hahahahahaheeheeheehee! You ARE from Pluto, aren't you?


Why should you let someone put their business on your roof, give your roof to them for free, and then agree to be locked into buying their product, that they make on your roof, for 20 very long years? It's a great idea, all right... for them, not you. Bottom line, signing a solar electric PPA is better than doing nothing, but only if you're completely broke, and always will be. Even if you are broke, you can always get a loan on your house, to pay for the system. They're not that expensive, if you can buy a car, you can buy a solar system.

The retail cost of solar is now less than $4/Watt. Therefore a 5kW system will cost between $17k-$20k, we'll use $20k as the gross cost for this example. The federal tax credit is 30%, so the net cost will then be $20k - $6k = $14k. A 5kW system will generate approximately 7,300 kWh/year. If the PPA charges you $0.15/kWh, your annual cost will be $1,095 in the first year. An annual escalator of $2.9% is common in PPA's, meaning year 2 payments = $1,127, year 3 = $1,159, etc. If that's the case, the twenty year cost will be $29,126, or more than double the cash purchase net cost.

If you only live in your house for another 10 years, you'll have to find a buyer willing to assume the PPA. Since the value of the system at the time it was installed was $14k, and the remaining PPA payments are $16,630, you should be very concerned that you'll be able to find a buyer willing to assume your PPA.

beaversrule said:

The retail cost of solar is now less than $4/Watt. Therefore a 5kW system will cost between $17k-$20k, we'll use $20k as the gross cost for this example. The federal tax credit is 30%, so the net cost will then be $20k - $6k = $14k. A 5kW system will generate approximately 7,300 kWh/year. If the PPA charges you $0.15/kWh, your annual cost will be $1,095 in the first year. An annual escalator of $2.9% is common in PPA's, meaning year 2 payments = $1,127, year 3 = $1,159, etc. If that's the case, the twenty year cost will be $29,126, or more than double the cash purchase net cost.

If you only live in your house for another 10 years, you'll have to find a buyer willing to assume the PPA. Since the value of the system at the time it was installed was $14k, and the remaining PPA payments are $16,630, you should be very concerned that you'll be able to find a buyer willing to assume your PPA.

Click to expand...

+1! I hope that when your neighbors are shown this that they can cancel their agreements.

I didn't go through with it and my neighbor across the street didn't either. As for the rest of the block I'm not sure.