Wednesday, September 5, 2012
A question I received from someone today reminded me that I needed to update the "Solar Happenings" post that I wrote way back in May.
We decided not to proceed with solar panel rental at this time. We were poised to sign the papers until we received the contract and saw how much it was going to cost cumulatively over the 25 year rental period. The monthly solar panel rental fee from this particular company increased at a 3% annual rate which doesn't seem like much initially, but of course by the 25th year increases to what I believe to be too much money.
Not only would we be paying the monthly rental fee, but also a variable rate of money to APS for electricity each month. This is because during the hot summer months of high demand the solar panels do not work as efficiently, and one generally does not have enough panels to cover all the electricity required during these months.
The outcome of all this was that we would be paying an uncertain, but possibly large amount each month, (even taking inflation and the rising cost of electricity into account), and the whole thing made me personally too nervous to proceed.
The idea of signing a rental agreement for that long made me nervous too even with the "buy out" option. I think it has something to do with the fact that I have no intention of living here in Phoenix for that long and it made me feel tied down somehow, anchored to a place I don't really want to be.
Anyway, we will go solar I have no doubt, just not now, not on those terms.