I am on the verge of installing a 6Kw solar array on my roof. I currently pay a very low rate (we are in an energy choice area of texas) of about 7.1c/Kwh. I was sold the system based on the concept of net metering, such that none of the solar power we generated would be wasted as the "meter would spin backwards" and we would only be charged by our power company for the net power used per the meter at the end of the month.
After HOA approval, lease company approval, months of paperwork, etc., the solar installer informs me that there is an issue with the power company I have as they will not offer "interconnection". Well that leads to actually looking at the detailed info from Oncor, who it turns out uses in-flow/out-flow metering.
Only a few of the REPs (Retail Electric Providers) buy back outflows, and of course their base rates are significantly higher than what I"m paying now, over 9c/Kwh and probably over 10c for the plans that will actually buy back.
Our usage the last few months has been 3700Kwh to 4700Kwh.
So now of course the installer says we are very unlikely to generate much in outflows anyway so it shouldn't matter.
But I'm really hesitant to go into this blind knowing that some amount of the solar we generate is going to be given away. The ROI on this system wasn't great to start out with (12-15 years on a 20 year lease) so there isn't much room for getting less value out of it.
Given my usage is it fair to say I should not worry about outflows? Or does the lack of net metering and the current great rate I'm paying blow this deal.
I'm thinking I should check the meter during the afternoon when the A/C is cycled off, none of our EV's are charging and if it is over 6Kw anyway, maybe he is right. Our smart meter was just installed so there is no online data to go by.
Thoughts?
After HOA approval, lease company approval, months of paperwork, etc., the solar installer informs me that there is an issue with the power company I have as they will not offer "interconnection". Well that leads to actually looking at the detailed info from Oncor, who it turns out uses in-flow/out-flow metering.
Only a few of the REPs (Retail Electric Providers) buy back outflows, and of course their base rates are significantly higher than what I"m paying now, over 9c/Kwh and probably over 10c for the plans that will actually buy back.
Our usage the last few months has been 3700Kwh to 4700Kwh.
So now of course the installer says we are very unlikely to generate much in outflows anyway so it shouldn't matter.
But I'm really hesitant to go into this blind knowing that some amount of the solar we generate is going to be given away. The ROI on this system wasn't great to start out with (12-15 years on a 20 year lease) so there isn't much room for getting less value out of it.
Given my usage is it fair to say I should not worry about outflows? Or does the lack of net metering and the current great rate I'm paying blow this deal.
I'm thinking I should check the meter during the afternoon when the A/C is cycled off, none of our EV's are charging and if it is over 6Kw anyway, maybe he is right. Our smart meter was just installed so there is no online data to go by.
Thoughts?