20 Year Solar Lease Question NJ - $107/month 8773 KWH Guaranteed power

[dssnj]

Moved to a our first single family in Monmouth county NJ in September 2013- don't have the entire year of single family electric usage (JCP&L).
Sept - Jan electric usage 3049 KWH for $456 or monthly 610 Kwh / $91

Summer months are going to be more usage, but assuming at 610 average at 5 months it will be 7320 KWH for 12 months.

I am given a quote by NRGsolar / Roof diagnostic (installer) from Homedepot for 20 year lease

7.25 KW DC with 29 Panels
Inverter, Netmeter, Installation, monitoring (no brand mentioned)
Full warranty and insurance for 20 years
8773 KWH Guaranteed power / 9748 Estimated power
0.14 per KWH paid to customer if under guaranteed power

$107/month fixed for 20 years lease, with zero down, no escalation.
Option to add 5 more years at end of lease - not clear if it will be $107/month
End of 20 year - purchase option $6980

Is this is a good deal, this is my first quote and not sure how is this company
Is the annual 8773 KWH sufficient sized system ? What would be a sufficient KWH sized system.

[Ian S]

So you're estimating that you will go from a $91/mo electric bill to a $107/mo solar lease + whatever residual electric bill there is? That doesn't sound like a great idea to me. Of course, you will likely use a lot more in the summer but to see how this would really work out - or not - for you you really need a better handle on what you would use annually. Any neighbors with similar home to discuss it with? How do you heat the home? How old is the AC? What is the utility rate structure?

You need a lot more info as what you have doesn't make the case for leased solar.

[dssnj]

So you're estimating that you will go from a $91/mo electric bill to a $107/mo solar lease + whatever residual electric bill there is? That doesn't sound like a great idea to me. Of course, you will likely use a lot more in the summer but to see how this would really work out - or not - for you you really need a better handle on what you would use annually. Any neighbors with similar home to discuss it with? How do you heat the home? How old is the AC? What is the utility rate structure?

You need a lot more info as what you have doesn't make the case for leased solar.

Thanks for the feedback.
I found out that i will need about 12000 KWH per year for the size of house.