Electric Company offers Solar Panel to rent on their Farm - Hoping for valuable input

[alarmguy]

I think this tells you that they had produced 51.56kWh, so if you knew the number of panels and sun hours profile for your zip code, you could proabably grab the 30 day average, figure out the number of watts per panel, do the math for the year and decide if there math on potential per panel is accurate.

Remember they do degrade over time, not sure by how much.

I agree that its unlikely a co-op would purposely mislead their customers - ie themselves.

Yes, estimated according to them as - 40 kWr per panel per month.
I guess they put the lifespan at 20 years. The farm was built in 2015 and anyone buying the long term rental lease, it ends in 2035.
My next post tells what I just did for fun.

"Each panel is capable of producing up to 312 watts (and is estimated to produce 481 kWh starting the first year). We expect it to average out at just over 40 kWh per month per panel. This translates to about $46 in solar credits the first year."

 

[alarmguy]

With the above said, I just signed and sent an agreement to rent 30 panels @ $3.50 a month. No contract, cancel anytime.
Im doing this for fun, according to the site this should generate on average 1200 kWr a month.

I didnt want to do more as of right now I will be on a wait list so I kept it to 30. I also sent them a separate message asking if I will be offered lessor amounts until I get up to the 30.

 

[Skippy722]

With the above said, I just signed and sent an agreement to rent 30 panels @ $3.50 a month. No contract, cancel anytime.
Im doing this for fun, according to the site this should generate on average 1200 kWr a month.

I didnt want to do more as of right now I will be on a wait list so I kept it to 30. I also sent them a separate message asking if I will be offered lessor amounts until I get up to the 30.

$3.50x30=$105

Man… I’m jealous. Just checked, 1,296kWh used last month for $208. I’d happily jump on that deal!

 

[alarmguy]

$3.50x30=$105

Man… I’m jealous. Just checked, 1,296kWh used last month for $208. I’d happily jump on that deal!

Yeah, I got a bad feeling that it will be a long wait list *LOL*
Currently all the panels are subscribed to, which I knew. Im on a wait list. I am hoping to have clarity on what that may mean time wise. I sent a message to them yesterday, if no response I will try calling them early next week.
This program has been in affect since 2015, which I didnt know, we only lived here since March.

Reading your post, I also realized I asked to rent way more than I need, our new, smaller home (kids are gone on out on their own) is like super energy efficient, Im still surprised how "tightly" insulated it seems to be, uses stupid little electricity and I mean, we are in a warm climate, never have we ever opened the windows/ and about half of our last home. Anyway, I asked for too many panels in the sense that it exceeds my energy needs BUT the net profit from the panels is low do to the rental price and dirt cheap cost of electricity here and most likely will only save me $15 a month. Its fun thing but I might be dreaming that I will ever get a chance to rent any and will know at some point what the "wait list" is.

But what a concept huh? Community solar farms. They also have programs for home solar... like I said though, @10 cents a kWr, not much demand.

 

[thastinger]

Huh?
You pay $5.30 a month no commitment not locked into anything
Or you can buy service until 2035 for $538

If you can install solar panels on a roof for $80 you would make a fortune but we know you can’t

All the information you need is in the link I provided. It doesn’t take rocket science to understand what they are saying expect a return of $46 a year in credit on your bill for each panel and you pay $3.50 rent per month for each panel no commitment no contract

Phono Solar PS315P/24T 315 Watt 72 cell solar panels. | eBay

Find many great new & used options and get the best deals for Phono Solar PS315P/24T 315 Watt 72 cell solar panels. at the best online prices at eBay! Free shipping for many products!

www.ebay.com

Used panels are incredibly cheap now. I bought a pallet of 10 260W panels a couple years ago for about 60 bucks a piece to the shipping dock.

 

[alarmguy]

Phono Solar PS315P/24T 315 Watt 72 cell solar panels. | eBay

Find many great new & used options and get the best deals for Phono Solar PS315P/24T 315 Watt 72 cell solar panels. at the best online prices at eBay! Free shipping for many products!

www.ebay.com

Used panels are incredibly cheap now. I bought a pallet of 10 260W panels a couple years ago for about 60 bucks a piece to the shipping dock.

Nice deal, really,
btw- I did a typo, rental is $3.50 per panel. Not that is means anything but significant difference from the $5.30

I can see the advantage for some, being able to rent panels on a solar farm. You know, the ones that may not be in a location long enough, others where HOA has restrictions, also apartment renters or someone like me where electric is dirt cheap and not worth putting panels on a roof along with the associated costs.
But here is the real kicker ... ummm ... sadly also for those who think they may not be on the earth long enough to recover the cost and commitment

 

[thastinger]

Nice deal, really,
btw- I did a typo, rental is $3.50 per panel. Not that is means anything but significant difference from the $5.30

I can see the advantage for some, being able to rent panels on a solar farm. You know, the ones that may not be in a location long enough, others where HOA has restrictions, also apartment renters or someone like me where electric is dirt cheap and not worth putting panels on a roof along with the associated costs.
But here is the real kicker ... ummm ... sadly also for those who think they may not be on the earth long enough to revere the cost and commitment

I can see the appeal of their deal. They may be a "not for profit" but 500+ bucks for a 315W panel for 10 years means someone is making money, unless I got the details wrong.

 

[JHZR2]

You maybe having a problem understanding the website, let me explain, your right, its not rocket science but you got it all wrong*LOL*
You take no risk, you rent available panels on the Electric co-ops solar farm for $5.50 a month per panel, there is no risk

This seems like a good idea imo if so.

The electric company leverages their resources to install, with somebody else buying (is it deeded to the buyer somehow?). The electric co can upkeep all of them in one spot saving maintenance costs. Around here tge utility puts a panel with micro inverter per pole that has open sky view. The utility owns them, nobody offset the cost. On your case, the buyers are offsetting the cost and get a benefit over a period of time.

I’d want to be sure I wasn’t locked into a rate or some way that limits ROI.

I like this kind of option assuming it truly made sense. I have a hip roof with dormers in an established neighborhood with tall trees. The solar installation options for my house are obnoxious. The utility for whatever reason won’t allow me to put solar on a separate property (large garage) I own not 300 feet from my home since it’s a different lot. I’d like some solar for the long run. So some options would be nice…

 

[alarmguy]

This seems like a good idea imo if so.

The electric company leverages their resources to install, with somebody else buying (is it deeded to the buyer somehow?). The electric co can upkeep all of them in one spot saving maintenance costs. Around here tge utility puts a panel with micro inverter per pole that has open sky view. The utility owns them, nobody offset the cost. On your case, the buyers are offsetting the cost and get a benefit over a period of time.

I’d want to be sure I wasn’t locked into a rate or some way that limits ROI.

I like this kind of option assuming it truly made sense. I have a hip roof with dormers in an established neighborhood with tall trees. The solar installation options for my house are obnoxious. The utility for whatever reason won’t allow me to put solar on a separate property (large garage) I own not 300 feet from my home since it’s a different lot. I’d like some solar for the long run. So some options would be nice…

Im surprised I dont see it in more places, then again I didnt know it existed until I moved here.
I might suspect somehow this would not work our well with "for profit" utilities. Since this is a non profit we are actually the people who technically own it.
I DID MAKE ONE GLARING MISTAKE and it was a big one. The rental fee is $3.50 a panel I mistakenly posted $5.50 in some posts.

The solar panels are owned by the electric co-op. Im still learning this stuff. Bought and paid for by our co-op and I assume the taxpayers of the USA as with any solar project most likely contributes.
They rent them out to the customers. It's really a cool thing but I am sure might be a direct threat to "for profit" companies in a way I haven't bothered to figure out or else it would exist.

There is nothing to be concerned about being locked into anything. You are under no obligation other than a month to month rental, no contract. They too are under no obligation for anything either except to honor a phone call and remove the monthly charge should you decide you do not want it. Really simple.
Trust me, I am one of the biggest skeptics. There is no agenda here. I do know it can be hard to accept unless you lived with CO-OP electric utilities as I have for the last 16 years. Heck they even send a community based CO-OP magazine to the house.

The CO-OP are the customers, all together hiring a board to run things. We vote on board members all the time. This is in stark contrast to private companies, public companies and state companies where you have no control.

It seems really odd that you are limited by the utility company on where you can put panels vs county rules. Maybe as EVs become more popular and the quest to generate more capacity the "for profit" group will figure out a way.

 

[alarmguy]

Update -
Well, to summarize =

I put in an application yesterday knowing full well I would be on a wait list as all the panels are currently rented out.

I followed up with a call today, again, confirmed there is a wait list and wanted to make sure I would be put on it.
That is the good news, good conversation, nice people.

They confirmed that they have my application, they have reached 100% all panels rented about 1.5 years ago and currently there are 30 people on the wait list. Rarely does anyone cancel and when they do its because they are moving out of the area.
So feeling defeated *LOL* (again really nice lady, knowledgeable) I was like, I guess I would be looking at years then and she answered maybe not, they are keeping track of the inquiries and encouraged me to go on the list as there is talk of building another solar field if enough demand.
So enough said, Im sure I wont be hearing anything soon and even if they build another field that would be a year or more off I would think. Darn, what a cool idea. I was so excited I had the lady laughing.
@JHZR2

 

[KrisZ]

If you want to see higher electricity costs in your area, then sure “invest” in these panels. Every region that tried this experiment shows the same results. Higher and higher electricity costs, the more people adopt the panels, which of course is then used by the solar panel companies to convince even more people into getting the panels installed. It’s a self propelling scheme.

If you get early on and on a good program, like Jeff did, then you will come out ahead most likely.

Your area must be real tough to get into, since they are offering this new program. Personally, I think everyone should stay away from this scheme because it always ends in very high energy costs.

 

[alarmguy]

If you want to see higher electricity costs in your area, then sure “invest” in these panels. Every region that tried this experiment shows the same results. Higher and higher electricity costs, the more people adopt the panels, which of course is then used by the solar panel companies to convince even more people into getting the panels installed. It’s a self propelling scheme.

If you get early on and on a good program, like Jeff did, then you will come out ahead most likely.

Your area must be real tough to get into, since they are offering this new program. Personally, I think everyone should stay away from this scheme because it always ends in very high energy costs.

We pay 10 cents kWr.
Program has been in affect since 2015
No one bothers with solar on their homes at this low rate or better said very, very few.

The solar fields truly are an economical way to have solar for those who want them for fun, after all the rates are already dirt cheap.
There really isnt a way or reason for costs to go up. If anything down. I understand you are from CA ? or the mid west to west.
You're thinking in the corporate world of big energy companies.
We are a local company that produces no power, we buy wholesale, wholesale prices peak at high demand, solar helps reduce the peak useage.

It doesnt result in higher rates and 10 cents a kWr 24 hours a day is the proof. I need say no more than that.
You also have the option to join a peak use schedule of super low night time rates and higher peak rates. Have an EV join the peak rate group at 4 cents a kWr for some night time hours.

Im not debating you , I can imagine people from the West or even northeast trying to comprehend any of this.

In fact we get e mail alerts "Peak Alert" alerting the community on days of energy peaks that get costly, people voluntarily cut back to save the co-op money - lower rates. Here is what just yesterdays peak alert.
One can also of course allow them to control your thermostat and adjust up to 48 times a year with a $4 a month bill credit. Free thermostat and installation.

 

[JHZR2]

It seems really odd that you are limited by the utility company on where you can put panels vs county rules. Maybe as EVs become more popular and the quest to generate more capacity the "for profit" group will figure out a way.

I think for me it’s because my one big garage is on a completely different lot/parcel, and they’re very close but not even adjacent to make the claim that they’re all fed through the same meter or whatever. It seems to go through meters, and they size based upon demand. So… an outbuilding with its own meter is not set up for that. This is a residential thing. Of course the electrons and the local substation wouldn’t know any different.