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Firstly this forum is amazing with information, and I've done lots of digging. Unfortunately I was unable to do a search that would yield local results, which would probably dispense with a lot of my questions, so I'll collect and post them here.
Background: I got a quote for a 10,000 watt system for about $28,000 (if all cash) from a company with a long relationship with Sun Edison, but due to SunEd's recent problems (stock price drop 40% last week), they quickly pivoted to Canadian Solar's panels. Using the forum's guidance, I found the optimum fixed angle for my system should be 22.7 degrees (my roof being 5 degrees). Using PVWatts calculator (another great tip from this forum), and inputting the 22.7 degrees, it tells me that a 10Mw system will generate an Energy Value of $1506/year (using the FPL energy utility rate of about 10-cents). Interestingly, if I put the angle in as being 5 degrees (so system would be flush with the roof), the value is still $1439 (only $60 less, but makes my roof a lot safer in a hurricane situation). Last piece of info: my FPL (electricity) bill is about $2200/year (not sure of my KWh usage though).
So here are the questions:
1. With the above information, am I correct in concluding that it would take a long time to get payback of the investment? Let's say I pay $28K and get the 30% federal tax credit, putting the "bottom line" at $20K. Then the $1439/1506 numbers above mean that I'm looking at a break-even of 13-14 years? A post somewhere on the forum said the target breakeven should be 6-7 years max, so if my calculations are right (are they?), then is this unwise?
2. We have no State incentives (there was a $2/watt rebate from FPL that ran out very quickly in January, and it won't be repeated in 2016 by all indications). So are the only financial considerations: a) the 30% federal credit ending in 2016 (unless it's renewed) and b) the ongoing drop in panel prices, or am I overlooking something else?
3. The Company I got the quote from was Bison Roofing and Solar, and they seem well qualified and credentialed, but if anyone here is from FL and has first-hand experience, I'd love to hear it.
4. I have no wind insurance (it's expensive, and my mortgage was paid off, so I dropped it). The proposal is to bolt the panels to the vertical seams of my metal roof, and while that's the least "invasive" way to do this, I'm concerned the solar panels drastically raise my vulnerability to a wind storm (bolting right on to the trusses beneath would make the panels more secure, but also mess up the leak-proof roof). Any thoughts from Floridians with first-hand experience on the hurricane and insurance aspects of solar panels?
5. My internet search of "Canadian Solar" didn't turn up anything bad, but is there a quality difference between the products and the monitoring software of Canadian Solar and those from Sun Edison? If Sun Edison goes bankrupt, does that mean no more warranty? Can't the same thing happen to ANY company?
Background: I got a quote for a 10,000 watt system for about $28,000 (if all cash) from a company with a long relationship with Sun Edison, but due to SunEd's recent problems (stock price drop 40% last week), they quickly pivoted to Canadian Solar's panels. Using the forum's guidance, I found the optimum fixed angle for my system should be 22.7 degrees (my roof being 5 degrees). Using PVWatts calculator (another great tip from this forum), and inputting the 22.7 degrees, it tells me that a 10Mw system will generate an Energy Value of $1506/year (using the FPL energy utility rate of about 10-cents). Interestingly, if I put the angle in as being 5 degrees (so system would be flush with the roof), the value is still $1439 (only $60 less, but makes my roof a lot safer in a hurricane situation). Last piece of info: my FPL (electricity) bill is about $2200/year (not sure of my KWh usage though).
So here are the questions:
1. With the above information, am I correct in concluding that it would take a long time to get payback of the investment? Let's say I pay $28K and get the 30% federal tax credit, putting the "bottom line" at $20K. Then the $1439/1506 numbers above mean that I'm looking at a break-even of 13-14 years? A post somewhere on the forum said the target breakeven should be 6-7 years max, so if my calculations are right (are they?), then is this unwise?
2. We have no State incentives (there was a $2/watt rebate from FPL that ran out very quickly in January, and it won't be repeated in 2016 by all indications). So are the only financial considerations: a) the 30% federal credit ending in 2016 (unless it's renewed) and b) the ongoing drop in panel prices, or am I overlooking something else?
3. The Company I got the quote from was Bison Roofing and Solar, and they seem well qualified and credentialed, but if anyone here is from FL and has first-hand experience, I'd love to hear it.
4. I have no wind insurance (it's expensive, and my mortgage was paid off, so I dropped it). The proposal is to bolt the panels to the vertical seams of my metal roof, and while that's the least "invasive" way to do this, I'm concerned the solar panels drastically raise my vulnerability to a wind storm (bolting right on to the trusses beneath would make the panels more secure, but also mess up the leak-proof roof). Any thoughts from Floridians with first-hand experience on the hurricane and insurance aspects of solar panels?
5. My internet search of "Canadian Solar" didn't turn up anything bad, but is there a quality difference between the products and the monitoring software of Canadian Solar and those from Sun Edison? If Sun Edison goes bankrupt, does that mean no more warranty? Can't the same thing happen to ANY company?
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