Post #9 – Black Platinum Solar & Electric, Solar Financing – Toni and John Black

Are you ready to join the growing number of homeowners throughout the state of Arizona who are enjoying the benefits of solar energy? Well, congratulations! And we’re speaking not as the solar installers Black Platinum Solar & Electric but as homeowners who decided to install our own grid-tied residential PV system just about two years ago.

If solar is something you want to do, then you’re probably ready to ask the twin questions of cost and financing…

How Much Will My Solar System Cost Out of Pocket?

It depends. How we answer this question really does depend on your objectives. So let me ask you: Are you hoping to cut your electric bill in half? Or are you determined to eliminate your bill completely? The cost of your system will also depend on your home. How large is your roof? Is it flat? If pitched, does one side face south? Is your roof shaded by trees or other buildings?

And then there’s the matter of the renewable energy incentive payments, or rebates, being offered by your utility company. These change, but you can rely on Black Platinum Solar to keep you current on your options. Here’s a link to our most recent post on APS incentive rebates.

I know, I still haven’t answered your question. In fact, you probably have even more questions at this point. So here’s what you can do: Call Black Platinum Solar at 623-434-3340 for a FREE CONSULTATION. We’ll answer your questions, explain the options and give you a cost estimate.

What’s the Best Way to Pay For (Finance) My PV System?

There is no right (or wrong) answer to this question. It’s a very personal decision, and the choices you make need to serve your specific requirements. There are some aspects of your decision, however, that you may want to discuss with your tax or financial advisor.

Although neither Black Platinum Solar nor any other solar installer can instruct you, we’re using this blog post and other pages on our site (under the heading Financing Your PV System) to identify some of the important issues you need to consider. Whether you are thinking about purchasing outright, leasing, or considering a Home Improvement Loan, there are pros and cons…advantages and disadvantages. The more you know, the easier your decision will be.

While you’ll find more detailed information on solar financing options on our Financing Your PV System pages, here are three critical questions that will give you an idea of the significant distinctions between purchasing and leasing:

1. Who gets the solar rebates from the utility company?
2. Who actually owns the PV system and what are the upfront costs?
3. What are the electrical savings and payback period?

#1 Solar Rebates, Incentives and Tax Credits

When you PURCHASE your solar system (whether directly out of pocket or with the help of a second mortgage or home improvement loan) you retain all the utility rebate incentives and tax credits. Here’s a list of solar benefits to Arizona residents. The incentive rebate comes off the cost of the system. Then working with your tax or financial advisor, you can determine when and how best to use your state and federal tax credits.

When you LEASE a solar system for your home, you do not benefit from incentive rebates or tax credits, because you must assign your incentive rebates to the leasing company. The leasing company also gets the tax credits and any depreciation.

#2 System Ownership & Upfront Costs

If you PURCHASE your solar system, you own it. It’s that simple. And, it’s an asset that Arizona Public Service estimates can increase the value of your home as much as $25,000.

When you PURCHASE, you and your solar installation company will determine the payment schedule and what percentage of the total you’ll pay up front.

If you LEASE, the leasing company owns your system for the duration of the lease (typically 15 years or more). If you decide to move before the contract is up, you can transfer the solar lease to the new homeowner.

At the end of the lease, you can decide to: 1) purchase the system from the leasing company at the fair market value of the equipment, which by then will be at least 15 years old (don’t forget, though, that solar panel warranties are typically 25 years), 2) negotiate a new lease contract, or 3) remove and return the equipment to the leasing company.

As this is a lease, you pay $0 down. So if cash for a down payment is tight, leasing may be a good option for you.

#3 Electrical Savings and Time to Payback

When you PURCHASE–and depending on your objectives and the size of the system you install–you can conceivably offset 100 percent of your electric bill, including the utility service delivery fees, meter-reading fees and taxes. Many people choose to put in PV systems that will cover about 50 percent of their electricity usage, but this will not cut their bills in half because there are still the matters of service delivery fees, meter-reading fees and taxes.

At Black Platinum Solar we will work closely with you to make sure you get the PV system that will deliver the savings you want–whether that covers all or a portion of your electrical usage, cutting your electricity bill in half or eliminating it all together. These are important distinctions.

The Time to Payback when you PURCHASE will also depend on the size of the system you choose to install. Systems that cover 100 percent of the electric bill will reach the payoff point faster. That can be anywhere from 4 to 10 years. Payback will be longer for 50 percent systems. Furthermore, as electricity costs rise, the time to payback actually decreases.

When you LEASE, you are paying the leasing company as per your contract for the use of the solar system installed on your home. And as per your lease agreement, you can expect your payment to increase 3 or 4 percent annually. Now here’s where it gets interesting: If your system is designed to provide anything less than the elimination of your electric bill (covering usage, system delivery fees, meter-reading fees and taxes), you will get a bill from your electrical utility company in addition to making your monthly lease payments.

Time to Payback doesn’t apply to the LEASE because at the end of the lease agreement, you still will not own the solar system (see #2 above).

Still have questions? Black Platinum Solar & Electric custom designs and installs residential photovoltaic systems in Scottsdale and the Phoenix Metropolitan Area. We handle everything required to install and activate your PV system. Black Platinum is a certified installer of Enphase Energy microinverter systems and an Arizona Public Service Qualified Solar Installer (QSI).

Post #5 – Black Platinum Solar & Electric, Solar for Arizona – Toni and John Black

Solar is alive and well in our Valley of the Sun. And the proof is in how quickly homeowners have signed up for APS’ Standard Incentive program dollars…and even at the lower rate of $1.45 per watt. The money for this program is currently fully allocated to homeowners who have already submitted applications to install grid-tied photovoltaic (PV) systems. But all is not lost. Black Platinum Solar has three suggested scenarios for you:

• APS still has between $2 million and $2.5 million available through its Rapid Reservation program. With this program, you’ll receive a smaller rebate—just $1 per watt—but if you are eager to get started, this is your current option. UPDATE: APS reports that currently they are only accepting applications for the Rapid Reservation rate of $1/watt.

But you do have a couple longer-term incentive options:

• Since any dollars not allocated through the Rapid Reservation program by the end of September 2011, will be re-allocated to the Standard Incentive program on October 1, you can wait until then to try to reserve your rebate at the higher $1.45 per watt rate. UPDATED 9/10: The $1/watt incentive rate will be carried through the end of the year.
• Or, you can wait until January 2012 when the Standard Incentive program will be fully funded again.

While there is no guarantee that the incentive rate in 2012 will remain at $1.45, we have seen the total cost of PV systems remain fairly constant for the past few years. Even as rebate rates have declined, tax incentives have remained the same, technology has become more efficient and solar panel prices have come down.

The bottom line: Don’t succumb to hard sell or scare tactics, and choose the Rapid Reservation without knowing all the facts. Even with the latest news that the $1/watt rate will hold through the end of the year, you still want to invest in PV on your timetable. 

Black Platinum Solar will keep you fully informed. And when the time is right, we can handle the APS rebate reservation process for you. So, check back on our site regularly for the latest information and what it means to you.

Call 623-434-3340 today for a free estimate on a PV system.

Click here to see the most updated report on the available APS incentives.

Looking for solar installers in Phoenix? Black Platinum Solar & Electric custom designs and installs residential photovoltaic systems. We handle everything required to install and activate your PV system. Black Platinum is a certified installer of Enphase Energy microinverter systems and an Arizona Public Service Qualified Solar Installer (QSI).

Post #7 – Black Platinum Solar & Electric, Innovative Technology – Toni and John Black

Now here’s a story that definitely belongs in the “Gee, Why Didn’t I Think Of That” category.

It’s the project to replace our asphalt highways (circa 1950s technology) with something befitting the 21st century. It’s the glass road…or more accurately, the solar panel roadway that can do more than capture solar power. It can serve as the grid to deliver electricity, phone, cable TV and more directly to our homes and businesses.

Solar Roadways has been developing and testing the technology…overcoming challenges ranging from the notion of driving on glass to providing good traction, making it strong enough to withstand both car and truck traffic and ensuring there the sun doesn’t reflect off the glass road and into a driver’s eyes.

As explained in the video below, the impetus for this project was the realization of just how expensive petroleum-based liquid asphalt had become. In 2007, a ton of liquid asphalt was around $175; today that same ton costs more than $1000. As Solar Roadways began its research, their calculations led them to realize that this was a highway that could actually pay for itself over time (similar to the advantages of home solar installations).

Consider this: There are 25,000 square miles of roadway, including parking lots and driveways in the lower 48 states. If covered with solar panels yielding only a 15 percent efficiency, the United States could produce three times the electricity that the country now uses annually. Factor in the additional benefits of the intelligent grid to virtually every home and business and the ability to flash messages on the roadway–right in front of a driver’s eyes–and well…don’t take our word for it; watch the video below. It’s truly inspirational.

Post #6 – Black Platinum Solar & Electric, Solar for Arizona – Toni and John Black

At Black Platinum Solar, we keep you up to date with the latest information on residential incentive programs from electric utility companies in our area. If you’re a Salt River Project (SRP) customer, here’s what is currently available through the SRP Residential Solar Electric Program:

SRP reports that they are providing incentive rebates for their residential customers wanting to install photovoltaic systems. They have set aside funding for up to 4.5 megawatts (MW) in installations through April 30, 2012. SRP breaks down their rebate rates as follows:

• Incentives through the first 2 MW are offered at the rate of $1.35 per watt for up to 5 kilowatts (kW).
• Installation reservations falling into the next 1.5MW are adjusted down slightly to $1.20 per watt for up to 5 kW.
• Incentives for the remaining 1 MW of installations are offered at $1.00 per watt for up to 5 kW.

As of July 11, 2011, SRP has plenty of available capacity. Currently, only 0.58 MW are reserved. Act now, and you should still be able to qualify for the $1.35 per watt rebate rate.

Click here to see the most up-to-date information available from SRP: SRP Residential Solar Electric Program. You’ll also find useful information on financing options, frequently asked questions and program requirements.

If you have a question not answered on the SRP site, please feel free to use our Contact Form to ask us. We’re happy to help. Or call us at 623-434-3340 today for a free estimate on a PV system.

Looking for solar installers in Phoenix? Black Platinum Solar & Electric custom designs and installs residential photovoltaic systems. We handle everything required to install and activate your PV system. Black Platinum is a certified installer of Enphase Energy microinverter systems and an Arizona Public Service Qualified Solar Installer (QSI).

Post #4 – Black Platinum Solar & Electric, Solar Tips – Toni and John Black

I want to conclude my series of posts on energy efficiency with a big way to save. At Black Platinum Solar & Electric we think this may be one of the most overlooked issues in energy efficiency because it’s less a matter of do this/don’t do that and more about taking time to scale your efforts. I call it “Avoiding Overkill.” Let me explain.

Avoid Overkill: Energy efficiency doesn’t have to be about doing without or making compromises. It’s just a matter of paying attention to waste and…well…overkill. I’m sure you can find several more examples in your life, but here are my three to get you started:

• When was the last time you went through your house room by room and evaluated the light bulbs? If you typically select 100-watt bulbs without thinking about your actual needs, you may be using way more wattage than necessary. And that costs.
• And then there’s the matter of charging up your cell phone. If you automatically charge it overnight, that’s overkill because it only takes an hour or two to fully charge. The rest of the time is wasted electricity.
• Most important of all, there’s the matter of setting temperatures in your home. If you don’t have programmable thermostats, we suggest installing them right away. It’s easy enough to do that you can probably install them yourself. Now, instead of set it and forget it, you can program your temperatures to a typical day’s activity. For example, if you get up at 6 AM, in winter you can set the thermostat to start warming the bedroom around 5:30 so you’ll be comfortable when you get up. And if everyone is out of the house by 9, then lower the temperature several degrees. And so on. A few degrees higher in summer and lower in winter will make a big difference.

Saving energy is important. So is saving money, and at Black Platinum Solar & Electric we specialize in helping our customers get a handle on their electric bills. Call or email us; we’ll be happy to explain.

Looking for solar installers in Phoenix? Black Platinum Solar & Electric custom designs and installs residential photovoltaic systems. We handle everything required to install and activate your PV system. Black Platinum is a certified installer of Enphase Energy microinverter systems and an Arizona Public Service Qualified Solar Installer (QSI).

Post #3 – Black Platinum Solar & Electric, Solar Tips – Toni and John Black

Today, I’ll continue my list of simple energy saving ideas that you can use at home.

Rely On Nature: There’s nothing like air-dried clothes for the fresh smell of outdoors. And you’ll only need to fluff them in the dryer for a few minutes to soften them. That’s a huge savings. You can also air dry dishes. Just turn off the dry cycle and open the door of the dishwasher after the last rinse cycle. This is another way to save big.

Cook Smart: We use a lot of electricity in our kitchens: electric can openers, coffee grinders, mixers, rotisseries and food processors, to name just a few of the handy appliances that are part of a modern kitchen. Here are a few things you can do to save:

• Choose your burner based on the size of the pot, pan or skillet you plan to use. A small pan on a larger burner is wasted energy.
• When baking, broiling or roasting, set your timer and rely on it. Don’t keep opening the oven door to check…you’re letting out the hot air and making the oven less efficient. And when possible bake more than one thing at a time.
• And here’s a cool tip: Try partially baking several potatoes at the same time then storing them in the freezer until you want them. When you’re ready to use them, simply pop a couple in the microwave for a few minutes (be sure to remove any foil you might have used for oven baking and freezing) and you’re good to go.

Looking for solar installers in Phoenix? Black Platinum Solar & Electric custom designs and installs residential photovoltaic systems. We handle everything required to install and activate your PV system. Black Platinum is a certified installer of Enphase Energy microinverter systems and an Arizona Public Service Qualified Solar Installer (QSI).

Post #2 – Black Platinum Solar & Electric, Solar Tips – Toni and John Black

Let’s face it, our summers make air conditioning essential, but that doesn’t mean we can’t also be energy efficient.

Because we’re in the green energy business, here at Black Platinum Solar & Electric we are often asked for tips on energy efficiency. Our solar clients appreciate the value of their photovoltaic systems here in the Phoenix area. Having solar energy gives them more control over their electric bills. And because they are energy minded, they also look for little ways to make a difference and save our precious resources.

Over the course of several blog posts, I’ll share my short list of little things you can do that add up to real savings:

Keep Them Clean: Filters, lint traps, coils, that is. When dust, lint and debris build up, they rob your appliances and systems of their best performance.

• At least once a year, vacuum your refrigerator’s condenser coils. I find the brush or crevice attachments work best.
• Before each use, clean the lint screen on your dryer.
• And ideally every two months or so you should clean or replace the air filters in your HVAC system.

Set Good Habits: Yes, it might take a little retraining, but you’ll be surprised what just turning off lights and TVs when not in use can do for your energy usage. And help the kids create good habits too.

• Turn off your computer at night or if you’re going to be out of the house all day.
• And did you know that chargers use power even when not plugged into a phone or appliance? Try plugging chargers into a power strip and just turning off the whole strip when it’s not being used.
• Ceiling fans make your more comfortable by creating a “wind chill” effect that can make you feel up to 5 degrees cooler. However, unless you set your thermostat temperature higher, fans will not save you money. And you should turn off fans when you leave the room.

Looking for solar installers in Phoenix? Black Platinum Solar & Electric custom designs and installs residential photovoltaic systems. We handle everything required to install and activate your PV system. Black Platinum is a certified installer of Enphase Energy microinverter systems and an Arizona Public Service Qualified Solar Installer (QSI).

Post #1 – Black Platinum Solar & Electric, Black Platinum at Work – Toni and John Black

It was only a few months after Enphase Energy announced the availability of its microinverter technology that we decided to give it a try. Our first Enphase Energy microinverter system activated in February 2009, and today we only install Enphase systems. And it’s been the best decision we could have made…for our customers and our business.

Installation in the early stages.

This shot gives you a little perspective on the size of the installation.

On June 1st, Enphase Energy gave us a wonderful honor by making Black Platinum Solar the “Featured Array” on its blog. You can read the story by following this link to: “Featured Array: Black Platinum Solar & Electric.”

We’re also delighted with the installation Enphase chose to feature because this Phoenix home is a stand-out. Here are a few of the vital statistics:

• 23.5 kW PV system
• 100 Sharp NU-U234F1 monocrystalline PV modules (rated 235 Watts each) laid out in 14 rows with 2-16 modules per row, based on roof space
• Tilted from 11 to 16 degrees–taking into account optimal energy production and high winds
• 50 Enphase D380 microinverters

We designed the system to cover the home’s projected annual electricity needs, calculated at roughly 45.544 MWh per year.