Go Green they said

[elektra]

It seems google is over-run with paid advertisements from Solar advocates, wading through that mess to find stories on solar is very difficult. Sure, you can find the, "Solar is Perfect" stories at the top of any solar search, but those are simply advertising, paid for results.

Yet, we can wade through the mess and find little tidbits like this one, which is a loud warning.

Surprised solar customers find themselves with liens - Watchdog.org

eff Leeds says installing SolarCity’s panels on the roof of his home in the Northern California city of El Granada was the sorriest day of his life.

Agreeing to the company’s 20-year lease was like partnering with the devil, he claims. He says he has endured skyrocketing electric bills, installation of an inferior system and contract violations because SolarCity refuses to clean the panels or to provide a payment for his system’s poor performance.

The latest surprise: a notice from his bank telling him that SolarCity had placed a lien on his home, and that his equity line of credit application could not proceed until the lien was removed.

“I was totally surprised by this and very pissed off,” Leeds said. “When I talked to the bank they told me it was a lien. I had to pay the bank a $48 fee for removal. They held me up from closing my loan to buy a vacation home so I had to borrow from another account. It cost me time in calls to both Wells Fargo and to SolarCity.”

SolarCity say it’s not a lien, but a “fixture filing” that stakes the company’s claim to the panels, which it owns if consumers have taken part in its popular lease program. Owning the solar electricity-generating system allows SolarCity to claim lucrative state and federal subsidies available only to system owners. SolarCity has received approximately $500 million in tax subsidies and grants over the years.

And it's customers have been able to lease a system for much less in annual costs than an outright purchase. You could make the precise comments about auto leases. Do they somehow prove that cars are inefficient? What does this article actually say about solar power's efficiency or unitized cost?

show us a contract so we know, you have proved nothing crick, except you know nothing

 

[Crick]

Are you suggesting that leases are not available? Did you fail to read your own article? The leases are mentioned in the bit you quoted just above.

 

[eflatminor]

Many insurance companies pass on solar equipped homes. Cheaper panels are known to catch fire and as they age, maintenance issues left unattended can lead to covered damage.

The technology will improve I suspect.

Link?

It's a well-known problem in the insurance and mortgage industries. Here is a link from a large insurance carrier describing the hazards associated with solar panels:

Solar panels: What aren’t you considering?

And here's an article about a particular case in Australia that caused several fires:

http://joannenova.com.au/2014/05/solar-panels-warm-your-house-or-burn-it-down-bankrupt-your-company/

Another speaking specifically to cheaply made Chinese solar panels and their propensity to start fires:

http://olddominioninnovations.com/a-word-of-caution-about-chinese-solar-panels/

And lastly, a story from the New York Times on how these fires are impacting the solar industry:

http://www.nytimes.com/2013/05/29/business/energy-environment/solar-powers-dark-side.html

Happy to address any questions you have regarding property insurance, capital, lending, etc.

Best