PlutoISaPlanet
Well-known member
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:
My concerns are:
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.
- 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- The technology will be fairly outdated in 20 years. PV panels with mounting brackets seem to be outdated now, even.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.