"Free" solar energy installation? Has anyone heard of this company?

[Atman]

This looks really intriguing. I wish they gave some numbers on their site without having to get a sales rep involved, but the deal is essentially this: Instead of having to pay the huge up-front costs and on-going maintenance of a solar system, this company does all the installation for free, and maintains the equipment. You pay a monthly rent which is supposedly less than your regular electric bill, and you can still sell back excess power to the power company. Hmmm....

http://renu.citizenre.com/index.php?c=1195661486

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[Demeter]

1. NO, but Thanks for the Link!

I'm looking into this issue for the co-op.

[jpak]

2. Lots of talk, lotsa " hmmmmms" and

lotsa :shrug: on their business model.

No one, however, has lost any money yet...

[kysrsoze]

3. I got on the waiting list at the Chicago bungalow and energy conservation show

They're supposedly building a factory in the south which goes into production this spring. The rep I spoke to said there was some MAJOR financial backing (seems like a big "duh" investment, but he could be pumping it up). The rate I was quoted was to rent at electricity rates which equaled 2005 Com Ed (pre-increase) rates for the next 25 years. They had evidently worked out an agreement with Illinois power companies that the systems would be designed for a maximum 90% anticipated load, so in the end, we didn't end up being net sellers to the power companies. Otherwise their lobbies would squash it.

Finally, I asked about new efficiencies and how we would benefit from that. He said the expected gains to come over time would mainly be via more efficient distribution throughout the household and back to the power company, preventing loss of power. I figured we had nothing to lose by getting on the waiting list. We're around 24K.

I had also seen a new show on Discovery which highlighted a company which was doing the same thing for businesses. I THINK it's legit. We'll see.

[Atman]

5. Did they offer cost comparisons on outright purchase of a whole-house system

amortized over that 25 year period? Is the payback really that long if you purchased one, with a service agreement? It definitely sounds interesting! Thanks for your input.

.

[kysrsoze]

7. We spoke a little bit about that, but I was the one who brought it up

I had done a little research and found that the tax benefits you enjoyed, plus savings would eventually net me almost event. However, I didn't want to take out a huge, floating-rate second mortgage of at least $30K to $40K to have one installed. I'd rather pay a constant rate over time, knowing that around 90% of my power expense would be locked in at a fixed rate for 25 years.

I'm still just a bit leery (at first it seems too good to be true), but when you think about it, you're essentially leasing power creation and distribution from the electric companies. They just have existing plant and cost-plus pricing due to essentially no competition. So the business model does make sense to me. The security deposit wasn't huge, and the FAQ on the site says you forfeit your deposit if you decide to cancel prior to the end of your contract term.I did make sure I wasn't obligated to do anything before signing up, and I do want to get a chance to see an actual installation by the company in my area before I agree to it all.

[whistle]

4. Where are the 100,000 household locations they referred to in the video?

...I would really like to see this offer come into Central Florida. And their business plan is to have these systems installed and operating in 25% of U.S. households by 2025. I would be interested in that

[Lorien]

6. Thanks! I bookmarked it. I live in Florida and solar power makes a lot

of sense down here. My home is entirely under a live oak canopy, though, so I wouldn't be the best candidate (my electric bill went up 40% after hurricane Charley ripped the leaves off the trees, so the trees probably provide as much energy savings as solar). But I am forwarding this to every homeowner I know. One of my California friends pays $900.00 a month for electricity- I think that this is just what she needs!

[WolverineDG]

8. Sounds interesting

but no dealers in my area yet. :(

dg

[liberal N proud]

9. If I planned on staying in my house long term, I would consider it

But we are hoping to get transfered at some point, then you are faced with selling a house with "special features."

Not a good thing in a lousy housing market.

[snooper2]

10. I've been all the links at the site for an hour now...this sounds great

You can have the entire system moved 1 time if you sell your house to your new home, or you can cancel and lose the $500, or you can transfer the system to the new owner...

I'm a few minutes away from signing up, just want to do a little more research...

[Atman]

11. I'm kicking

This seems to have been met fairly positively. I'm encouraged, and of course something like this will only work if the scale is right. So, more people need to sign up so that more people CAN sign up. I haven't yet...but I'm almost there....

.

[snooper2]

12. I'm kicking as well...I just signed up and sent the link to 20 people..

nt