$3,000
$39,000
7.7%
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SCE charges an arm and a leg; I want to keep my limbs.
$3,000
$39,000
7.7%
Property
- Owner:
- MP
- Type:
- Residential
- Address:
- Torrance, CA 90501
- Size:
- 1,720 sq ft
Technology
- Type:
- Solar PV
- Installed:
- October 2017
- Size of System:
- 7.2 kW
- Monitor performance:
- https://monitoringpublic.solaredge.com/solaredge-web/p/site/public?name=Torrance PV#/dashboard
- Purposes:
- To generate electricity
Financial Details
- Gross Cost of System:
- $56,000
- Value of Tax Credits:
- $15,000
- Net Cost of System:
- $39,000
- Annual Savings:
- $3,000
- Own or Lease:
- Cash Purchase
- Additional Financial Notes:
- Solar installed in 2017 ($24,000) on a deferred comp loan. Battery system installed in 2023 with cash ($32,000). Currently pay about $12-$20 a month in non-bypassable charges. We usually have a credit of $1000+ by the end of the true up period. Newly purchased EV and charger will draw down on that yearly credit going forward. NEM 2.0 until 2037.
Professionals & Suppliers
- Installers:
- Trout Electric
What You Need to Know
Description:
7.2 kWh solar tied to 27.2 kWh of battery storage. FranklinWH batteries tied into the existing solar without having to install a new inverter.
Other Benefits:
The batteries offset the peak power costs but that was not the reason I installed them. In these uncertain times I wanted peace of mind that comes with whole home back up knowing my home will have power when the grid goes down.
Maintenance Requirements:
Wash the panels once or twice a year. No other maintenance required.
Efficiency or Sustainability Improvements:
Hybrid electric water heater.
My Motivation:
The solar system would pay for itself in 5 to 6 years. Power costs will rise but solar helps offset/negate that cost.
Additional Notes:
I had a new roof installed 6 months earlier. The roofer at the time said if I was going to go solar I should do it at the same time. At the time I didn't think I could afford a new roof *and* solar. I was going by 2 year old estimates for the cost of solar. It wasn't until I found EnergySage last month that I realized I could afford it and prices had come down quite a bit since my original estimate in 2015.
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