Hi all, been trying to do as much research as possible as I prepare to take the plunge of having solar panels installed here in upstate NY. I am at the point where I have 3 options on the table to consider. Some additional information:
1. I plan on getting a battery system for whole home backup purposes in the future, so I need to consider integration and future cost. I accept a sunk cost of $6k as the opportunity cost of a generator.
2. Estimated yearly Electricity usage is 6224-6884 (1st year in new construction) and cost is $.14-.16/watt
3. I value micro-inverters and optimizers as roughly equal. I haven't seen enough proof one way or another.
4. $20k is about my cash out of pocket budget, less is better but not enough to detract from overall cost.
5. I will be able to claim the full tax credits year 1.
Quote 1: Local Solar Installer (LG Chem authorized installer)
$3.45/watt for 15- LG 350 NEON2 panels with optimizers/SolarEdge Inverter+ Monitoring(SE-5000)
Total System Value- $18,113
NYSERDA Rebate - $1,838
Contract Price= $16,275
Fed ITC- $4,231.50/NYS Tax Credit - $4,068.75
Net Cost = $7,974.75 (can save another $500 by not using their bridge loan= $7,474.75)
Available 15 year 0% interest loan for the Net Cost amount
Estimated Production= 5,922kWh/year 1
​
Quote 2: NYSSF (Tesla Powerwall authorized installer)
3.35/watt for 16- Sunpower 320w (SPR-E19-320-E-AC w/ Type E(16) and PVS6 Monitoring/InvisiMount
Total System Value- $17,152
NYSERDA Rebate- $1,792
Contract Price= $15,360
Fed ITC- $3,993.60/NYS Tax Credit- $3,840
Net Cost= $7,526.40
Estimated Production= 5,866kWh/year 1
​
Quote 3: Tesla
$2.38/watt for 7.56kw system w/Hanwha panels
Total System Value- $18,000
NYSERDA Rebate- $2,646
Contract Price= $15,354
Fed ITC- $3,992/NYS Tax Credit- $3,839
Net Cost= $7,524
If I add 2 Powerwalls at time of solar installation increases initial cash investment to $29,354 and net cost to $16,722. This makes the 2 Powerwalls w/ installation cost $9,198.
I was told there is a NYSERDA battery storage incentive in the works for upstate NY this year to the tune of $350/kw which would provide a $9,450 incentive on 2 Powerwalls. I am pretty torn between Quote 1 and 2 and I am concerned my decision could have a larger financial impact in the cost of batteries down the road. Any advice? Which system would you choose? Am I right in seeing the first two a similar in value?
Thanks!
1. I plan on getting a battery system for whole home backup purposes in the future, so I need to consider integration and future cost. I accept a sunk cost of $6k as the opportunity cost of a generator.
2. Estimated yearly Electricity usage is 6224-6884 (1st year in new construction) and cost is $.14-.16/watt
3. I value micro-inverters and optimizers as roughly equal. I haven't seen enough proof one way or another.
4. $20k is about my cash out of pocket budget, less is better but not enough to detract from overall cost.
5. I will be able to claim the full tax credits year 1.
Quote 1: Local Solar Installer (LG Chem authorized installer)
$3.45/watt for 15- LG 350 NEON2 panels with optimizers/SolarEdge Inverter+ Monitoring(SE-5000)
Total System Value- $18,113
NYSERDA Rebate - $1,838
Contract Price= $16,275
Fed ITC- $4,231.50/NYS Tax Credit - $4,068.75
Net Cost = $7,974.75 (can save another $500 by not using their bridge loan= $7,474.75)
Available 15 year 0% interest loan for the Net Cost amount
Estimated Production= 5,922kWh/year 1
​
Quote 2: NYSSF (Tesla Powerwall authorized installer)
3.35/watt for 16- Sunpower 320w (SPR-E19-320-E-AC w/ Type E(16) and PVS6 Monitoring/InvisiMount
Total System Value- $17,152
NYSERDA Rebate- $1,792
Contract Price= $15,360
Fed ITC- $3,993.60/NYS Tax Credit- $3,840
Net Cost= $7,526.40
Estimated Production= 5,866kWh/year 1
​
Quote 3: Tesla
$2.38/watt for 7.56kw system w/Hanwha panels
Total System Value- $18,000
NYSERDA Rebate- $2,646
Contract Price= $15,354
Fed ITC- $3,992/NYS Tax Credit- $3,839
Net Cost= $7,524
If I add 2 Powerwalls at time of solar installation increases initial cash investment to $29,354 and net cost to $16,722. This makes the 2 Powerwalls w/ installation cost $9,198.
I was told there is a NYSERDA battery storage incentive in the works for upstate NY this year to the tune of $350/kw which would provide a $9,450 incentive on 2 Powerwalls. I am pretty torn between Quote 1 and 2 and I am concerned my decision could have a larger financial impact in the cost of batteries down the road. Any advice? Which system would you choose? Am I right in seeing the first two a similar in value?
Thanks!
Comment