Friday, 28 September 2018

Like buying a car or a major appliance, solar projects are a sizable investment and many people are more comfortable financing them and making monthly payments rather than paying with cash as a lump sum. Those homeowners who don’t want to pay for the entire system up front but are looking to own their solar system eventually have the option of getting a solar loan to pay for their system. Solar panel loans make it possible for homeowners who usually pay their utility bills monthly to make those payments for their solar energy instead. While solar loans present the highest ROI in the long-term of any solar financing option, there are other solar financing options. Homeowners considering this option should fully educate themselves on the pros and cons of a solar loan, and who they are designed for, before settling on their decision. How Do Solar Loans Work? Solar power loans work much like other home improvement loans. The lending company either provides the capital for the loan in a lump sum, or opens up a line of credit that the homeowner can draw upon. The financier and homeowner agree to a certain term for the loan, which determines the interest rate the homeowner will pay on the loan. The homeowner then makes monthly payments towards the loan that includes the interest. Home Equity Loans Home equity solar loans allow homeowners to borrow against their home equity to pay for their solar. Home equity loans normally have 7-20 year terms and require interest rates of around 5%-7.5%. A positive aspect of home equity loans is that homeowners may be able to write off their interest. With a home equity loan, the system is paid for in one upfront lump sum and is paid off with a steady monthly payment. Home Equity Line of Credit Unlike a home equity loan, a home equity line of credit allows homeowners to draw upon a line of credit that is obtained through the bank in the form of a credit card or checkbook, instead of providing the entire lump sum of the loan up front. Similar to other lines of credit, the homeowner has the ability to draw upon the credit line as much as needed in an agreed upon term. Similar to a home equity loan, with a home equity line of credit, the homeowner is loaned money against their home equity. The difference with a home equity loan is that as the homeowner pays back the loan, equity that they have to drawn is filled back up. Draw periods vary in length and terms but typically last 10-15 years. Property Assessed Clean Energy Loans (PACE) Another option for solar loans is the PACE loan, the Property Assessed Clean Energy Loan. The great thing about a PACE loan is that someone with a relatively low credit score can still qualify because the loan amount is not based on the customer’s credit score, but rather the assessed value of his property. That’s why it’s paid back through the property tax bill. However, the disadvantage is that PACE loans can create complications when the property is transferred due to the sale of the home, just as leases can. Early and full disclosure at the time of contract can prevent these problems, however. The SunPower by Stellar Solar Mosaic Solar Loan One common loan that we at SunPower by Stellar Solar provide is a solar loan through Mosaic. Mosaic boasts a streamlined lending process that allows for zero down loans with fixed interest rates and multiple term options. There are also no prepayment penalties and little to no loan fees. Currently, the Mosaic loan offers three different terms: a 10-year loan with 3.99% interest, a 15 year at 4.99%, and a 20-year loan at 5.49%. How Does Solar Save the Homeowner Money? Solar power loans for homes can help homeowners get into solar more quickly and at a reasonable cost. The savings then stem from the energy efficiency of the solar system greatly reducing or eliminating the homeowners’ electric bill. The way it works is that, once the solar is installed, the homeowner enters a new rate structure with the utility, and sells and buys back power to and from the power company in a process referred to as “net metering”. Solar Net Metering The great thing about solar energy financing is that it allows the homeowner to save money on their power bills, and take the money they were paying to the electric company every month and use a portion of that payment to pay for their solar panels. This is a great deal for the homeowner as it allows them to pay for a new home improvement that also supplies their home with electricity, while also allowing them to pocket the rest of the money. The homeowner is also adding to the value of their home by adding an energy-producing appliance to it, which can raise its value if the homeowner is ever trying to sell in the future. This money saving process enabled by solar is made possible by a California state law called ‘solar net metering.’ This law makes it so that homeowners who install solar can earn credit for how much extra solar energy their system produces over the course of a year, instead of day by day or month by month. The way that solar panels work is that, during the middle of the day, the system produces more electricity than the home is consuming. At night the system isn’t producing as there is no light. There is also more power produced during the summer when days are long, and less in the winter when days are shorter. Solar net metering allows homeowners to earn credits during the day when their system is producing power than their home is using, by allowing them to send the extra energy back to the grid at the same price that they would be paying for it. A good metaphor is that the homeowner can essentially ‘bank’ their excess energy through the grid during the day, and can ‘withdraw’ the energy their home needs at night or during the winter. This process, as long as the home is producing as much power as it is using, allows homeowners to minimize or eliminate their power bill, such that they are only making payments towards their solar loan. On average, most loan payments are 20-50% less than the utility bill, so the difference equals savings and/or cash flow to the majority of solar owners. After 5-15 years of making those payments, the homeowner will no longer owe the power company or the loan company and will be doing nothing but saving. In the Short-Term This credit producing and redeeming process that solar energy allows for can enable homeowners to start saving money in the first month of installation. Typically, the monthly solar loan payment the homeowner makes to the financier is less than their power bill was prior to installing the solar. So when the solar system eliminates the power bill, and the homeowner only has to make their solar loan payment, they are saving on the difference, even in month one. In the Long-Term The real value from a solar energy comes from the long-term savings. Once the solar loan is paid off, and the homeowner is no longer paying for the solar, or an electric bill, the savings will stack up for the remainder of the life of the solar system. As many solar loans have no prepayment penalties, the quicker the loan is paid off, the less interest the homeowner has to pay, so even more savings are reaped. Protection from Rate Hikes In both the short and long term, having solar installed protects the homeowner from electric rate hikes, which means that savings compound over time. In this way, it is hard to predict just how much money a solar system will save a homeowner in the long run, because there is no way to predict how much electric rates will go up, but the bottom line is that it is likely much more than we can even fathom. The Federal Solar Tax Credit Homeowners who go with a solar loan are also eligible for the Federal Solar Tax Credit. Also known as the solar investment Tax Credit, or Solar ITC, this tax credit allows homeowners to deduct 30% of the cost of their solar panels and installation from their federal tax liability. This can be a significant chunk of change depending on the size of the system, and seeing as how the average solar system is around $25,000 a pop, this can lead to significant savings. If the homeowner doesn’t have the tax liability the year they install, they can actually roll over the credit to the following years. After 2019, the Tax Credit will be phased out over the next three years, so homeowners who want to get the most savings out of their system should go solar as soon as possible. Who Are Solar Loans for? Solar loans are the least expensive form of solar financing for homeowners who have good credit scores. For those homeowners who have home equity, home equity loans are the cheapest type of solar loan as they boast the lowest interest rates, and most of the time the interest paid is actually tax deductible, much like mortgage interest. There are also solar loans that do not require collateral, although they require higher interest rates. Typically these do not require any money down, and the homeowner may have the option to pay the loan off early with no penalties, something that is not possible with a solar lease. Solar loans can also provide additional value to homeowners who have a tax liability, as being able to take advantage of the federal solar tax credit can add a ton of value to the solar deal. Solar Loan Interest If there is a “downside” to a solar loan, it’s the cost of using someone else’s money or the interest. When the homeowner pays cash, they don’t have to pay that because they’re using their own money. However, interest rates are still relatively low, which means the cost of financing this purchase is also relatively low, especially when compared to how much utility rates go up year after year. For example, in June 2018, SDG&E asked the Public Utilities Commission permission to raise rates 28% over the next four years. Luckily for homeowners in San Diego, the SunPower solar warranty is 25 years, so they won’t have to worry about those repairs or maintenance for many years. SunPower by Stellar Solar has also proven to be the dependable and responsible solar company in San Diego, as we have been in business over 20 years, which is longer than any other local solar company. Our longevity proves that we have the stability, customer service and attention to quality that will ensure our survival in the San Diego solar market. So homeowners looking for the quality, long-lasting solar company in San Diego, look no further. So for homeowners looking into solar who don’t have the cash upfront to pay for the system, but still want to own their system, solar loans are likely the answer. They allow homeowners to go solar for zero down and replace their power bill for the solar payment. So the homeowner literally loses no money, and instead of throwing away their hard-earned money at the power company, they can instead invest in their own home, working towards owning a renewable energy producing machine that will provide value for years to come. A SunPower by Stellar Solar energy consultant can assess your situation to see if a solar loan is right for you.

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Solar Panel Leasing Vs. Solar Loans

When it comes to solar panel financing, the main question that homeowners have to ask themselves is whether they want to go with a solar lease or a solar loan. Both forms of financing are right for homeowners in different situations, and have their pros and cons, so homeowners should educate themselves on what both entail before making a decision. Let's take a look at the core differences between the two financing types, and the homeowners that each is right for. Solar Panel Leasing With solar panel leasing, the solar leasing companies own the panels that are installed on the home. The solar company installs the panels for nothing down, then the homeowner pays the leasing company a monthly fee for the use of the solar panels, and uses the power they produce. It’s essentially like the homeowner paying a power company that’s on their roof, for solar power that costs less than power from the utility. How Do Solar Leases Save Money? With a solar power lease, the leasing company charges the homeowner a fixed monthly payment for their solar power that is less than their power bill was before installing. So, because the solar panels are producing enough power to reduce or minimize the homeowner’s electric bill, and the monthly payment is less than the power bill was previously, it enables the homeowner to start saving money as soon as they are installed. This leads to immediate cash-flow from the savings, which can be great for homeowners who are sick of huge power bills. The other way solar leases can save a homeowner money is by protecting them from the inevitable electric rate hikes in the future. Because the solar panels are minimizing the homeowner's power bill, and are replacing the power the homeowner was previously buying from the power company, when the power company does raise rates, it will not affect the homeowner with solar panels installed. SDGE recently proposed an 11% rate hike in 2019, and a 28% rate hike over the next four years, so for those homeowners with panels, their savings will compound as those rate hikes hit. Who are Solar Leases for? Solar leases are primarily for those people who can’t take advantage of the 30% federal income tax credit, which requires the homeowner to own the panels. This includes retired people who don’t usually have a big tax bill, and people putting solar on a second home as the tax credit is only good for the primary home. In these cases, the leasing company, who owns the panels gets to take the tax credit and passes along the savings to the homeowner in the form of lower monthly payments. The Pros of a Solar Lease Production Guarantees One of the main benefits, if you’re looking to lease solar panels, is that the solar company guarantees production. As part of the lease agreement, the solar company guarantees that they will meet the power requirements every month, and if they don’t meet them, they will reimburse the homeowner for the power not produced and any electric bill charges they may have garnered as a result. At the beginning of the lease, the leasing company and homeowner agree on a stated monthly production number stated in kilowatts of electricity, and the guarantee states that the system will produce this much. If the homeowner consumes more than the agreed upon kW, then the homeowner is responsible for the difference. But any downtime the system may experience will be financially covered by the solar company, so the homeowner never has to worry about their power bill, even if their system isn’t producing. Maintenance and Repairs are Covered As a part of the production guarantees, under a solar lease, the solar company is required to maintain and upkeep the solar system during the term of the lease. So, if the solar goes down or is experiencing some kind of technical difficulties, the solar company is required to fix it as soon as possible, and reimburse the homeowner for any lost production during that time. These repairs can include the roof, workmanship, and product issues that may affect the system in any way. No Collateral Required As we stated earlier, one of the great incentives for homeowners to get solar leases is that there is no home equity involved in a solar lease. This is good for homeowners who may be planning another home improvement project which may require home equity. This can also benefit new homeowners who haven’t had the opportunity to build up a lot of equity. The Cons of a Solar Lease The Panels Belong to The Leasing Company At the end of the lease term, most commonly the homeowner has the option to renew the lease, buy the panels at a discounted price, or have the panels removed. If the homeowner had been making those same lease payments to the solar company to own the panels that whole time, they would have paid off the system much earlier, and would not have been paying the solar company or the power company for many years. The Homeowner is tied to the Lease The big disadvantage of a lease vs. a loan is that most leases are set up for a 20-year term and that means the homeowner is expected to make all the payments and pay them ALL the money. This compares to a loan where the homeowner can pay it off early and pay less, because they’re not paying interest on the rest of the payments. For example, take a lease that has a 20-year term: 12 months X 20 years = 240 payments. If the payment is $100 per month X 240 payments = $24,000. That is what the homeowner will owe the leasing company for the use of the solar panels. If the homeowner sells their home after 120 payments ($12,000 worth) and wants to pay off the lease so they can sell the solar panels along with their house to the new home buyer, they will owe the leasing company the rest of the lease payments ($12,000) to get out of the lease. The homeowner won’t save any money by paying off the lease early as they would if they paid off a loan early. No Early Payment Most leases require that the homeowner is not allowed to exit the lease early unless they sell their house and have to pay it off for that reason. Otherwise, the homeowner is in default. Also, compared to a loan which can be borrowed in 5, 10 or 15-year increments, lease customers may have lower monthly payments but will pay more money out of pocket in the long run because they make many more payments (payments for 20 years vs. 5, 10 or 15 years). Can Complicate Home Selling While it is possible to transfer a solar lease to a home buyer or for the homeowner to close out the lease prior to the sale of a home, these arrangements can take time to make (30-90 days) so they must be handled prior to escrow. If a property goes into escrow prior to these details being worked out, complications can arise that make the transfer of the property difficult if not impossible and homes can fall out of escrow. Real estate agents that have had this type of bad experience may sometimes steer buyers away from homes with solar leases so this is something that should be anticipated and handled early. Solar Panel Loans In reality, getting a solar power loan is not much different from getting a loan for any other large purchase, such as a car, boat, or motorhome. If the homeowner has a good credit rating and has paid off their loans in the past, they should have no problem. However, at the beginning of the solar boom, lenders were not so willing to lend money for solar panels. For one thing, lenders can’t repossess solar panels if the homeowner misses payments like they can with boats or cars. So solar panels were a bigger risk to the lender and they tended to charge much higher interest rates than with cars or boats which make the loans somewhat less affordable. Secondly, because solar panels were new, lenders were not sure what the normal operating lifespan would be for a solar panel system – unlike cars and boats – so lenders were only willing to extend loans for relatively short terms – 5 or 6 years, tops. This made the monthly loan payments actually higher than the utility bills instead of lower, because the loan was being paid off too quickly. One solution to this problem of bigger risk was for loans to be secured by collateral – in most cases, the homes themselves – and so the Home Equity Line of Credit or HELOC became the solar loan financing vehicle of choice for most homeowners over the past 15 years. The exception to this came during the recent economic recession in 2008-2010 when credit dried up and HELOCS were not available until home values once again stabilized and credit markets went back to normal. During that period of instability, solar leases were basically invented and came into their own as the only reasonable form of solar financing available for a short time. What’s happened in the meantime, however, is that solar panel systems have proved their long-term viability as a bankable asset with lifetimes of over 30 years and some panel manufacturers, such as SunPower, are now offering full 25-year warranties on all equipment. This has made lenders more comfortable with offering loan terms of 10-15 years even without the collateral of home equity, at reasonable interest rates for borrowers who have decent credit scores. How Do Solar Loans Save Money? A significant benefit about solar panel loans is that it allows the homeowner to take the money they were paying to the electric company every month – and use some portion of that payment to pay for a new home improvement (solar panels) that also supply his home with electricity; the rest of the money the homeowner gets to put in his pocket and he also gets a home that is worth money when he sells it because it now has this energy-producing appliance attached to it. The reason this is possible is due to a California state law called ‘solar net metering.’ This allows solar homeowners to get credit for how much solar energy they generate over the course of an entire year instead of day by day or month by month. If solar power has a weakness, it is that the homeowner can’t turn it up or down to match their needs; the amount of sunlight drives how much power is being produced. As a result, homeowners get more electricity than they need in the middle of the day (when the sun is overhead) and none at night when it’s dark. They get more than they need in the summer when days are long and not enough in the winter when days are short. However, solar net metering gives homeowners credit whenever they make more power than their home can use by letting them feed the extra energy into the grid and the same retail price that they would normally pay for it. In this way, they can ‘bank’ their extra renewable energy with the grid during the day and ‘withdraw’ the energy they need at night or during the winter. As long as solar owners produce about as much power as they consume over the course of the year, they can minimize their power bill (all except for small monthly service charges) and pay only the monthly loan payments for the solar loan. Since most loan payments are 20-50% less than the utility bill, this difference represents pure savings or cash flow to most solar owners. And eventually – after 5 or 10 or 15 years of loan payments – the homeowner will have paid off their loan, and the lending company will say “stop sending us money”. That’s something you’ll never hear from the utility company. “Stop sending us money” – can you imagine?! Who are Solar Loans for? Solar loans are the least expensive form of borrowing for homeowners who have good credit scores. Home equity loans are the cheapest type of solar loan since they have the lowest interest rates and the interest paid is actually tax deductible, just like mortgage interest. Other non-collateral solar loans have higher interest rates but may require no money down and may also be paid off early with no penalty which is not true for leases. The Pros of a Solar Loan The Federal Solar Tax Credit Homeowners who go solar with a loan are eligible for the 30% Federal Solar Tax Credit. That means that the homeowner can deduct 30% of their installation costs from their federal tax liability. Seeing as how the average solar installation is $25,000+, that can equal out to significant savings. If the homeowner doesn’t have enough tax liability the year they go solar, they can roll it over to the next year when they may owe more money. Long Term Savings, Protection From Rate Hikes As we have said, the primary benefit of going solar with a loan is that the homeowner owns the panels at the end of the loan payoff period. So once they’ve paid off the loan, they are no longer making payments to the power company or the solar company, and the savings will stack up for the life of their system. For the entirety of the loan, and the life of the system, the homeowner is also protected from electric rate hikes as they are minimizing their power bill, so the savings compound over time. Added Home Value According to recent studies, adding solar panels can add an average of $20,000 to home value, and for those homeowner looking to sell their home, having the system paid off can make the home much more attractive to potential buyers. The Cons of a Solar Loan After Warranty Expires, Homeowner Takes Over Maintenance The biggest downside of a solar loan compared to a solar lease is that when the solar warranty expires, the homeowner is responsible for maintenance and repairs of the solar system. While the industry standard is 10 years for manufacturer’s warranty, there are many solar panels makers out there who only offer 5 years, and others may not be in business in 10 or more years. That’s partly why choosing a dependable solar company that has been in business for many years is extremely important. Homeowners should be sure that their solar company is in business for the long run so that their warranty will be fulfilled for its promised term. Luckily, the SunPower solar warranty is 25 years, so most homeowners won’t have to worry about those repairs or maintenance for long after they install their system. It’s clear that solar leases and solar loans both have their strengths and weaknesses, and are appropriate for different types of homeowners in different situations. Homeowners should fully educate themselves on all the factors that affect their situation to determine the option best for them. A SunPower by Stellar Solar energy consultant can help homeowners decide what solar power financing option is best for their situation. Contact us today!

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Thursday, 13 September 2018

The Benefits of Utilizing Solar Panel Loans

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Monday, 10 September 2018

Solar Panel Financing Options

Regarding solar power finance, homeowners have quite a few options they can choose from based on their financial situation, the current solar market, and solar companies. There are many factors that determine what finance option is the best fit for every homeowner, and each homeowners’ situation is unique when it comes to investing in solar power projects. For these reasons, homeowners exploring solar financing options should educate themselves on the different situations each option is appropriate for. Solar Loan Vs. Solar Lease The core solar financing question that every homeowner considering solar panels must ask themselves is whether they want to go with a solar loan or solar lease. Each of these solar power financing options has their pros and cons, but the basis of the decision is founded on whether or not the homeowner wants to own their solar and solar panels or not. Owning solar by going with a solar loan ultimately presents the highest ROI in the long run, but solar leases can be a great option for those that can’t get tax incentives by taking advantage of the Federal Solar Tax Credit. Let’s take a look at the two options and see who they are right for, and what is required of each. Going solar with a loan means that the homeowner gets their solar paid for by a third party lender. The third-party lender provides the capital for the loan, and the homeowner pays back the lender over a given term, paying interest on the loan agreed to at the beginning of the term. Much like a car loan, the homeowner pays back the loan in monthly payments, which are determined by the length of the term. Who offers Solar Loans? The solar company the homeowner works with should be able to fully set up the financing situation. Some types of solar financing providers in the solar industry include solar panel manufacturers, banks, credit unions, and financing institutions. Some examples of solar financing institutions are: Renew Financial Lightstream Mosaic For a more complete list of institutions that provide solar power loans, check out the list at Energysage.How do Solar Loans Save The Homeowner Money? Solar loans save homeowners money in both the long and short term. Short Term Savings In the short-term, solar loans can help homeowners save money by allowing them to eliminate their power bill by installing the solar with zero money down. Once installed and running, the solar produces power during the day, powering the home in place of the power being purchased from the utility. While the solar homeowner still has to pay a monthly loan payment, the payment is typically worked out so that it is less than the power bill was before getting the solar installed. So with no power bill, and a monthly payment less than the previous power bill, the homeowner can save on their bills in the first month of installing solar. For example, someone with $150/month utility bill could typically get a solar loan by making payments of $100/month. So, they could be saving $50/month ($600/year) in the short run. Long Term Savings The real financial benefit of owning a solar system comes in the long-term, after the solar has been paid off. After they pay off their loan, they will no longer be making solar payments, they will no longer be paying for their power bill, and they will no longer be paying interest. They will also be shielded from any electric rate hikes in the future. For example: After a number of years (5-10, etc.), the loan is paid off, so the homeowner is not making ANY payments every month (except maybe a minimum monthly utility bill). Now, the homeowner will be saving the entire $150/month ($1,800 per year) in the long run. Plus, during this time, everyone else’s electric bill has gone up a lot, so while they were paying $150/month, now they’re paying $200/month. So, he’s actually saving $200/month ($2,400 per year). The Federal Solar Tax Credit A Solar loan can save the homeowner money immediately by allowing them to redeem the Federal Solar Tax Credit for owning their solar. The Solar Investment Tax Credit allows homeowners who go with a loan to deduct 30% of the cost of their solar installation from their Federal Tax Liability. Basically, it’s like the U.S. government is paying for 30% of your new solar energy system. On a $21,000 solar energy system, that means U.S. pays $6,300 and you pay only $14,700.The cool thing about it is that if the homeowner doesn’t have the tax liability to deduct the 30% the year they install solar, the credit can be rolled over to the following year. Homeowners should know that the Federal Solar Tax Credit is being phased out starting after next year. The way that the Tax Credit is designed, it will decrease from 30% to 26% in 2020, then to 22% in 2021 and then will decrease all the way to 10%, and will be available only for commercial installations from 2022 on. So in order to save the most money, homeowners should get installed in the next three years to receive the most benefit from the credit. How Do Solar Loans Work? Solar loans, like most other home improvement loans, just require that the homeowner have good credit and have paid off loans in the past. There are different types of solar loans, some requiring collateral, and some not. The types of home equity loans are: The SunPower by Stellar Solar Mosaic Solar Loan One common loan that we at SunPower by Stellar Solar provide is a solar loan through Mosaic. Mosaic boasts a streamlined lending process that allows for zero down loans with fixed interest rates and multiple term options. There are also no prepayment penalties and little to no loan fees. Currently, the Mosaic loan offers three different terms: a 10-year loan with 3.99% interest, a 15-year at 4.99%, and a 20-year loan at 5.49%. Home Equity Loans Home equity solar loans allow homeowners to borrow against their home equity to pay for their solar. Home equity loans normally have 7-20 year terms and require interest rates of around 5%-7.5%. A positive aspect of home equity loans is that homeowners may be able to write off their interest. With a home equity loan, the system is paid for in one upfront lump sum, and is paid off with a steady monthly payment. Home Equity Line of Credit Unlike a home equity loan, a home equity line of credit allows homeowners to draw upon a line of credit that is obtained through the bank in the form of a credit card or checkbook, instead of providing the entire lump sum of the loan up front. Similar to other lines of credit, the homeowner has the ability to draw upon the credit line as much as needed in an agreed upon term. Similar to a home equity loan, with a home equity line of credit, the homeowner is loaned money against their home equity. The difference with a home equity loan is that as the homeowner pays back the loan, equity that they have to drawn is filled back up. Draw periods vary in length and terms but typically last 10-15 years. Property Assessed Clean Energy Loans (PACE) Another option for solar loans is the PACE loan, the Property Assessed Clean Energy Loan. With PACE loans, the money for the loan is provided by local governments who sell bonds to investors who provide the capital for energy retrofits for residential and commercial properties. The homeowner pays back the loan through assessments added to their property tax bill. While PACE loans are less common, they are still a viable option for homeowners without as much home equity. Solar Leases Solar power leases are great for those homeowners who don’t have a federal tax liability, or are installing solar on a second home and therefore cannot take advantage of the federal solar tax credit as it requires the homeowner to own the panels. That’s because with a solar lease, the homeowner does not own their solar; the leasing company owns it, and the solar installer installs the solar for no money down. The leasing company then charges the homeowner a monthly fee for the power the panels produce. The monthly fee is typically much less than the original power bill, so the savings are immediate. The Upsides of a Solar Lease Immediate Savings Solar leases allow homeowners to get installed for no money upfront, and once their panels are installed and working, they will be greatly reducing or fully eliminating the homeowners power bills. Combine this, and the fact that the solar lease payment will be much less that the power bill was previously, and the homeowner will be saving money every month, and saving money immediately. Production Guarantees With solar leases, there are typically power production guarantees that require the solar company to reimburse the homeowner if the system does not produce what it is supposed to. This means that, even if the solar goes down, the homeowner is guaranteed to not have to pay their power bill, and if they do, they will be paid back for it. Maintenance and Repairs are Covered Along with the production guarantees, with leases, solar system repairs and maintenance are guaranteed and covered for the life of the lease. In order to fulfill those production guarantees, the solar company has a vested interest in the system. So any repairs, whether workmanship or product, will be fully covered and pay for by the solar company. Immunity from Rate Hikes While the savings from leases are mostly short-term, the long-term savings that come from fixed-payment leases are reaped from the compounding savings from electric rate hikes. As the utility raises rates, which they inevitably will, the savings go up as the homeowner who has solar installed will still not be paying their power bill. So while non-solar homeowners will be cringing when they see electric rate hikes, the solar homeowner with a fixed payment lease will have no worries as they will still have no power bill. The Downsides of a Solar Lease At the End of the Lease, the Panels Belong to the Panel Company One downside to a solar lease is that at the end of the lease term, the homeowner does not own the panels. So at the end of the 20-25 years, the panel company will come in and uninstall the panels, or sell the panels to the homeowner at a discounted price. If the homeowner had been putting those lease payments towards owning the solar, they could have paid it off many years prior to the end of the lease term. The Homeowner Has to Pay the Whole Lease Most leases are set up for a 20-year term, which means the homeowner is expected to make all the payments and pay the leasing company the money for the entire term of the lease. Compare this to a loan, and it turns out it is more expensive, as with a loan, the homeowner can pay off the loan earlier and pay less interest, making it cheaper. If the homeowner wants to sell their home, the lease can usually be “assigned” to the new home buyer and they continue to make the lease payments until the lease is done. But as mentioned previously, in order for this to not create trouble at escrow time, details need to be worked out far in advance. Not Eligible for the Tax Credit The other downside of going with a solar lease is that, because the homeowner doesn’t own the panels, they are not eligible for the 30% Federal Solar Tax Credit. So that is quite a chunk of money, 30% cost of an owned system, that the homeowner will be missing out on. While this may not be of interest to those looking at a solar lease, it should still be considered when comparing the two. Power Purchase Agreements (PPA’s) Power Purchase Agreements are similar to leases in that the homeowner does not own the panels. Also much like a lease, the homeowner pays the leasing company for the power the system produces, except with a PPA, instead of paying a monthly fee, the homeowner pays for the power they use, at an agreed-upon cost per watt of electricity at the beginning of the term. One downside of PPA’s is that they are subject to escalators as time goes on, typically from 1%-3%. Wrapping Up So, homeowners considering solar are obviously presented with many solar panel financing options to pay for their solar energy. Every homeowner should do their research on the different options and familiarize themselves with the pros and cons of each. We at SunPower by Stellar Solar can answer any questions homeowners may have, so please contact us today!

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Saturday, 8 September 2018

How to Build Solar Compliant House(s)

To start with, building a new home is an exciting yet challenging process. Researching the best suburbs, finding the perfect block of land, choosing the right builder and the seemingly endless decisions about colours, fittings and furnishings - so many things to consider! Have you included solar power on your list?

If you're thinking about installing solar power in your new home (either as part of the build or later on) we highly recommend you start planning for it now. The following tips will save you lots of money, time and regrets later on, by getting your solar installation prerequisites right, from the on set.

Lay of the land

The way your block of land is shaped can have a surprising impact on the efficiency of your solar panels. For example, if you buy a block of land with a steep hill on the northern or eastern side, the sun won't hit your solar panels until much later in the day compared with a flat block or one with a hill on the southern or western side.
If you’re considering buying a coastal block, it’s worth checking with your electricity provider whether you’ll need to install solar panels with a higher than average salt and wind corrosion rating. Power authorities like Western Power need to make sure your panels will be able to withstand our harsh coastal conditions. If you’re keen to live by the coast, just make sure you budget accordingly.

Shade

Once you've taken the landscape into account, you need to consider whether other objects are likely to pop up nearby (usually out of your control) that might cast shade onto your solar panels. How close might your neighbours build? Imagine the impact of a multi-story building going in right next door, shading your roof for half the day! Also consider the type of vegetation surrounding your block of land. Are large shade trees likely to be a problem?

Roof design

In most cases, a north facing roof will enable your solar panels to capture as much sunlight as possible. If north facing isn't an option, a western orientation is your next best bet.
What else are you thinking of putting on your roof that might cast shadows onto your solar panels? Satellite dishes, TV aerials, chimneys, awnings, shade sails or air conditioning systems all have the potential to reduce your solar output. Try and position these items well away from your solar panels. On a pitched roof, consider installing these objects on the opposing side.
If you’re considering a home with a flat roof, don’t forget that you’ll need to position your solar panels on an angle to capture as much solar energy as possible. Bearing this in mind, you may be better off choosing a more conventional (and more solar-friendly) roof design if you have your heart set on going solar.

Seek advice

Along with your designer and your builder, it's worth talking to an experienced solar installation company like Solargain to help you properly plan for solar in your new home. Our experienced team of solar technicians can advise you on the best wiring, orientation and design options for your home, based on your specific location and individual needs.

Rebates and solar incentives

It’s a fact of life that government rebates and solar incentives often change from year to year. Don’t stress out trying to work out what you’re entitled to. Solargain has you covered. We pride ourselves in keeping up-to-date with changes to government policies on solar power. We take this information into account when processing your paperwork, saving you lots of headaches.

Pre-wiring and pre-laying your solar panels

It's much quicker to run electrical wiring before your walls have been gyprocked. If you have the option of pre-installing the wiring for your solar power system during the build, it will make life much easier for your solar installer, saving them time and saving you money. We also recommend you consider installing a solar-ready electricity meter right from the start, so you won't need to replace it when the time comes to connect your solar power system.
If you’re building a multi-story home, it’s a great idea to pre-lay your solar panels on the roof before your scaffolding comes down. This will save you the additional cost of erecting scaffolding again at a later date.

Let’s work together

The key to ensuring your build and solar installation progresses as smoothly as possible is good communication. Talk to us when you’re brainstorming initial build ideas, so we can ensure your design is as solar-friendly as possible. Keep us posted on any power-related details such as whether you’re installing three-phase or single-phase power. Then, when it comes to pre-wiring and pre-laying your panels, don’t leave it until the last minute! Get organised and get in touch with us three to four months before your expected handover so we can work with your builder and tradies to schedule the work in.

Contact us

TechWows OGARE Int'l Ltd is a Company that specializes in building modern solar power compliant houses from scratch to finish. Our company's team comprises of first-class outstanding solar literate Architects, Engineers, Artisans and Project Manager. At affordable rate, you deserve a building that wows people. Contacts us for your building plan and construction. Someone you know may need our services, save our number: 07037555949 or write techwows@gmail.com

Our newly completed Solar Compliant Estate below:

Designing and Building Modern Solar-Ready Houses

Ever before the planning of a buiding starts, putting into consideration the addition of photovoltaic (PV) systems to new houses during or after the after initial construction is completed can save whole lot of time and money by following new house Solar Ready design guidelines. Solar Ready houses are designed and built with integrated modern electrical and mechanical features that streamline the integration of PV systems. Solar Ready design guidelines are straightforward and impact house design in the following general areas:

Underground wiring of the modern interconnections before German floor casting is done
Selecting, apportioning and construction inverter and battery rack spots during brick form work
Roof pitch and orientation
Layout of roof vents, chimneys, etc., to prevent shading
Roof load bearing specification
Designated roof mounting points for PV array
Installation of electrical conduit from main electrical panel location to roof
Specification of main service panel and circuit breakers
Space near the main electrical panel for PV inverters and other equipment

Early consideration of these important requirements and many more will ensure the seamless integration of immediate or future photovoltaic systems.

TechWows OGARE Int'l Ltd is a Company that specializes in building modern solar power compliant houses from scratch to finish. Our company's team comprises of first-class outstanding Project Manager, Architects, Engineers and Artisans. At affordable rate, you deserve a building that wows people. Contacts us for your building plan and construction. Someone you know may need our services, save our number: 07037555949 or write us: techwows@gmail.com

Solar Power Compliant Houses Shall Soon The Legitimate Standard

Solar Power Compliant Houses Shall Soon The Legitimate Standard. USA; California has shown the emerging world building standard.

Obviously, those that have taken the wise decision to handover their building construction to modern solar-literate architects and engineers are smart. As there won't be need for any defacing or future partial demolition of their houses by the time is has become mandatory for all houses to be upgraded for solar electrification. The California Energy Commission (CEC) recently voted 5-0 to add some new provisions to the state’s building code. Among them is the requirement that , all new house and multi-family residences of three stories or fewer, along with all major renovations, must be built with solar panels.

Where solar is not suitable, homeowners must have access to a community solar project or receive efficiency upgrades that compensate. (There are some exceptions for buildings in highly shaded areas.)

California is currently adding 113,000 housing units a year, and that number is rising. Right now only about 15 percent of them are built with solar, so this is a big boost to the residential solar industry.

The CEC also boosted standards for insulation, air conditioning, water heaters, and much more. It’s all part of California’s mandate for new homes to be “net-zero energy” — to produce as much energy as they consume — by 2020, with all commercial construction to follow by 2030.

Solar on most new houses! This might seem like an obviously good thing. Solar is great; solar panels are cool; California is leading the climate resistance.

But among energy nerds, the mandate has caused much wringing of hands and gnashing of teeth. They’ve been debating it all week on Twitter — on one hand, on the other; by now there are so many hands that I must confess to paralyzing ambivalence.

So let’s walk through some of the pros and cons and see if we can draw some kind of conclusion.

Germany still holds the aces as the worldwide leader of solar power innovation and implementations.

German political constituents. — Germany already fast going full-fledged solar roofing.

The case for the mandate

Solar-powered home owners, solar-literate architects/engineers, energy wonks and practitioners have also offered a variety of arguments in support of the mandate.

1) Political will is not fungible.

It is an eternal verity of politics that any new policy is met by wonks explaining why other policies would have been better. But California advocates and policymakers do not get to pick and choose policies like they’re shopping at a supermarket. There was a coalition for this.

As the Washington Examiner writes, “the change had broad support from home builders, state political leaders, and solar advocates.” Also, the CEC was able to make the change without legislative approval. And the costs are concentrated on builders and homeowners rather than the broad public.

2) The CEC probably overestimated costs.

The CEC drew its cost estimates from a comprehensive, top-down report on global clean energy trends from BNEF. But there are many reasons to believe that it is substantially overstating what rooftop solar will cost Californians. BNEF’s report includes the solar rooftop retrofit market, but costs are much lower for new construction, especially as it scales up.

When building solar into new construction, there are no customer acquisition costs and no sales commissions, permitting costs are much lower, financing costs are much lower, there’s already an electrician on site, there are no interconnection applications, etc. Plus, solar panels are cheaper when bought in bulk, and California builders frequently build subdivisions all at once.

“With all these categories added up,” Arizona State University researcher Wesley Herche and John Weaver write in a close analysis in PV Magazine, “this eliminates more than half the cost of a residential system, bringing down the total to $1.12 per watt. From there, the elusive $1/watt is only a few years away in terms of system cost declines.”

3) Scale will bring innovation.

Tesla’s solar roof tiles look expensive now, but when the choice is between building a roof with a rooftop solar system on top of it or building a roof with a solar system built in, the cost calculus will look different. Increasing demand for building-integrated solar products will allow that industry to scale up and bring costs down as well.

4) Cost reductions bleed over.

All of these cost and operational improvements in the solar rooftop industry will bleed over into areas outside the mandate — into the retrofit market, and into other states — making rooftop solar more attractive even in places it isn’t required.

5) Time-of-use rates mean new rooftop solar could drive new storage and demand shifting.

California’s three big utilities are shifting to time-of-use rates for residential customers — meaning ratepayers will be charged more for electricity when it is more valuable. This will also affect net metering; if retail rates are lower during the midday solar surge, net metering compensation will be lower too.

That will give homeowners incentive to shift some of their solar energy around, which they can do with home energy storage — and helpfully, under the new building code, storage counts as compliance with efficiency mandates. That should get a lot of storage, and with it a lot of responsive demand, into California homes, which should help stabilize the grid.

6) Jamming new distributed solar onto the grid forces utilities to make needed changes.

This effect is difficult to quantify or fully predict, but by forcing so much rooftop solar into the market, the mandate could have the effect of forcing changes that need to be made anyway, like standardizing the use of smart inverters that give utilities visibility into home solar systems and properly incentivizing demand response.

Utilities are often loath to make life easier for distributed energy (they don’t like what they don’t own), but this mandate could force the issue, taking power out of utilities’ hands and putting it into consumers’.

7) Solar will become more visible, familiar, and contagious.

Also difficult to quantify: By making rooftop solar so much more common and familiar, like just another home appliance, the mandate will help answer consumer questions and ease consumer fears. As Abigail Ross Hopper, head of the Solar Energy Industries Association, told GTM, “I can’t overstate how strongly I feel about normalizing the solar experience so it feels less risky to the consumer.”

Researchers have already shown that solar panels are contagious — when people see them, they want them. And that effect could redound beyond solar, helping normalize renewable energy (and carbon policy) more generally. (Though, if we’re being honest, it’s already pretty normal in California.)

8) Rooftop solar and efficiency could help displace natural gas.

California now burns as much natural gas in buildings as it does in power plants. Reducing that means increasing efficiency and electrifying heating and cooling. (The state has a natural gas utility that is opposing electrification efforts; it remains very difficult for the average California homeowner to fully electrify.) Solar on every new home, plus mandates for highly efficient appliances, could drive electrification and displace natural gas.

You Need To Know What Net-Zero-Energy Means

You Need To Know What Net-Zero-Energy Means; Practical Home Case Study

A home is said to be Net-Zero-Energy certified when the total energy being consumed by such home is equals to or less than the total energy being generated by the home. In other words, as time advances, a modern home is expected not only to sufficiently generate its own energy, instead of depending on national grid, but to produce moderately surplus energy.
TechWows brought a wonderful report to you few months ago from the National Institute of Standards and Technology (NIST) about how to create a Net-Zero-Energy home. The results from the project have been disclosed after one year of experience with an excellent outcome. The residence achieved the goal of net-zero consumption with a surplus energy of 491 kWh.

A Net-Zero-Energy home is a residence that generates as much energy as it uses while meeting all the needs of the residents. The NIST net-zero-energy house was located in the suburbs of Maryland and has been used as a laboratory along a whole year, where a virtual family of four members spare energy in the same way a real average american family would do.

In order to achieve the net-zero consumption, the house was built up to U.S. Green Building Council LEED Platinum standards, the highest standard for sustainable structures in the country. Under these standards, the test house was estimated to be 60% more efficient than houses built to meet the requirements of the 2012 International Energy Conservation Code, the standards adopted for new constructions in Maryland.

The building was extremely well isolated, aiming to cut out air infiltration and heat looses in walls and the roof, including triple-paned windows. “The most important difference between this home and a Maryland code-compliant home is the improvement in the thermal envelope, the insulation and air barrier,” NIST mechanical engineer Mark Davis has declared. Apart of the insulation, the house got installed solar water heating and 32 solar panels in order to produce its own energy, and was equipped with the most energy-efficient appliances.

In a normal year, a comparable size home in Maryland would consume an average of almost 27,000 kWh of energy. Starting last summer, the solar panels produced more energy than the house used from July through October, but last winter was much colder than previous ones and the snow, double normal, covered during 38 days the sun-powered system. The house used 3,000 kWh more energy during the year of the study than it was projected for the region’s typical weather. In November, it began running negative numbers monthly and at the end of March the energy deficit was 1,800 kWh. In April, the energy yield increased again, and the house injected electric power to the grid on most of the days.

In total, the photovoltaics produced 13,577 kWh of energy, while the house only used 13,086 kWh in the whole year. The Net-Zero-Energy house from the NIST showed to be 70% more efficient, instead of the 60% initially estimated, than houses meeting the standards adopted in Maryland. The NIST suggests that a Net-Zero-Energy home could be combined with the use of an electric car to make use of this energy surplus, enough to drive an electric-powered vehicle for about 1,440 miles.

Although the extra investment needed to improve the efficiency, compared to the price of a similar construction complying with Maryland’s state building code, is calculated to be about $162,700, residents of these type of houses would save about $4,373 in electricity a year ($364 a month), and the improvements will not only increase the total value of the house, but it will also enhance the living comfort.

Along with the “Better Buildings Challenge” program of the Trump administration, many states are encouraging the construction of more efficient or even net-zero energy homes. For example, California aspires to enforce that all newly constructed homes are Net-Zero-Energy by 2020.

Support TechWows’s work by becoming a Member, Supporter, or Ambassador for renewable energy in your area and generate good income for yourself by linking us.

TechWows OGARE Int'l Ltd is a Company that specializes in building modern solar power compliant houses from scratch to finish. Our company's team comprises of first-class outstanding Project Manager, Architects, Engineers and Artisans. At affordable rate, you deserve a building that wows people. Contacts us for your building plan and construction. Someone you know may need our services, save our number: 07037555949 or write techwows@gmail.com

Friday, 7 September 2018

UL Delists Huawei Benchmark Scores After Cheating Discovered

UL has delisted multiple Huawei devices from its benchmark database after the company was found to be cheating on its results.

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New Research Makes the Case for Pluto as a Planet

In 2006, a new definition of what makes a plane from the International Astronomical Union (IAU) saw Pluto demoted to dwarf planet status. That decision has never set right with some members of the public and scientists.

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ET Deals: Get Overwatch for $12 When You Subscribe to Humble Monthly

Been dying to give Blizzard's Overwatch a try? Good news! The folks at Humble Bundle are currently offering up a copy of Overwatch (plus a swath of other games) for just $12 when you subscribe to Humble Monthly.

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Microsoft Relents, Confirms Extended Support Option for Windows 7

Microsoft's VP for Office and Windows marketing Jared Spataro has offered a helping hand to some Windows 7 holdouts. He confirms that enterprise customers will be able to pay for extended support on Windows 7.

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Premium vs. Regular: What’s the Right Gas for Your Car or SUV?

Look for Top Tier gasoline for your car, or Top Tier diesel. Don't buy premium if your car doesn't need it.

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Samsung Adds 8nm Process, Limited EUV Manufacturing in 2019

Samsung has released an update to its own foundry roadmap, including plans to ramp a new 3nm process with gate-all-around transistors.

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Huawei Caught Cheating in Smartphone GPU Benchmarks

Huawei has been detected pulling some significant benchmark shenanigans.

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Russian Investigators Suggest ISS Damage Could Have Been Sabotage

The hole was first identified as a micrometeoroid puncture, but now that's looking less likely.

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Thursday, 6 September 2018

ET Deals: Dell Inspiron 17 5000 17.3-inch Laptop for $581, Samsung EVO 128GB MicroSDXC Card In Stock

For those looking for a desktop replacement that won’t pulverize their wallets, today’s deal on the Dell Inspiron 17 5000 is a must-see. Use code “SAVE17” at checkout, and you’ll save a whopping $309. There are also plenty of bargains on SD cards, 4K TVs, and wireless earphones, so keep on scrolling until you find…

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Tiny Android-Powered Palm Phone Leaks Again

The ghost of Palm is about to return with a teeny, tiny phone, and there are a few new images of it.

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AMD’s New $55 Athlon 200GE Desktop CPU Combines Zen Cores

AMD has announced a new Athlon 200GE -- resurrecting its older CPU brand and moving Raven Ridge down into dual-core markets.

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Kepler Spacecraft Wakes Up to Begin New Observations

NASA was unsure if Kepler could go on, but the spacecraft just woke up to begin a new observational campaign.

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Micron: Full GDDR6 Production Underway for Nvidia’s RTX Launch

Micron has announced full production of GDDR6 as part of the run-up to the Nvidia RTX launch -- but it's done so with some frankly peculiar language.

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VR Market Expected to Improve Despite Sharp Decline in Sales

IDC predicts that the VR market will recover and perform better in the future, despite a steep downturn in 2018 sales.

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Intel Faces 14nm Shortage As CPU Prices Rise

Intel's 14nm CPU prices are rising, especially at the bottom of the stack. The tight supply conditions the company predicted earlier this year are biting home.

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Canon Targets Nikon, Sony With $2,300 Mirrorless Full-Frame EOS R

Canon's $2,300 offering falls between the 6D Mk II and 5D Mk IV DSLRs. There's also a new series of lenses, called RF. Existing Canon lenses work via adapters.

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NASA Issues Arbitrary Deadline to Reawaken Mars Rover

NASA has set a 45-day limit for attempting to reactivate the Opportunity rover, and science team members that work on the project are speaking out against that decision.

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Wednesday, 5 September 2018

Google Wants to Kill the URL

Google wants to kill the URL, and there's reason to be glad of that. But there's also reason to want other people involved in the process.

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Upcoming Core i7-9700K Overclocked to 5.3GHz on Air

Intel's latest Core i7 CPUs are breaking 5GHz on air cooling. Golden sample, or new trend?

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Sony Doesn’t Have Cross-Play Fortnite Because Other Consoles Suck

Sony isn't allowing cross-play because other consoles, including consoles more powerful than the PS4, don't deliver as good of an experience. Somehow. Don't worry, it's all in your best interest.

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