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Billing excel sheet for Purchasing

in the next 25 minutes I will cover the solar installation process compare solar panels batteries inverters I will introduce a tool that will help you compare different quotes explain things like net metering which is really at the heart of solar show you how to calculate actual savings and more so stick around my name is John and I've been passionate about renewable energy and sustainability for the last 15 years solar energy of is renewable it doesn't deplete our resources or emit any carbon during operations now while solar panels themselves are being produced they do release some amount of emissions but those are offset well within the first two years of their use over the 30y year lifespan of a solar panel it can save the equivalent of four cars being removed of the road thus significantly reducing greenhouse gases addition solar boosts home value with studies showing an average 4% price premium for homes with solar real ested agents who are familiar with solar can help maximize your appraisal value through bio education Aesthetics May sometimes pose a challenge now the economic benefits most of you are aware of solar can dramatically reduce your Reliance on fil fuels they'll slash your electric bills to under $10 a month in Most states in the US over its lifetime a solar system can save homeowners between 25,000 to $110,000 now these savings when combined with the environmentals and the energy Independence benefits makes solar a really compelling long-term investment next let's understand net metering now this is the system that reduces your electric bills after going solar net metering is basically a billing system that lets solar system owners earn credits for Surplus electricity sent to the electric grid solar systems produce most of the energy in the daytime when homes may have lower occupancy with folks out for work so most of the solar electricity being ends up being unused and exported to the electric company or the gr now the power company of the grid gives homeowners credit for this Surplus electricity these credits offset the cost of electricity drawn from the grid during the times when the solar system isn't generating enough power or no power at all such as at nights or on cloudy days so how does this Surplus production work now the excess sity from your solar panels that flows back to the grid during sunny periods earns you credits now some important considerations policies for net metering vary by state and utility Cali California Texas Arizona and a few other states do not have net metering they have Alternatives like net billing feed in tariffs and you need battery storage in those states to take full benefits of solar because you don't have net metering solar eliminates all charges in your electric bill that relate to transmission generation and distribution completely so monthly savings can vary by location I go into much more detail in the longer version of the course but an average home in California can save about $4,795 a year in Nevada about 1656 a year in Jersey about $38 a year you can use your own annual electricity consumption and your cost per kilowatt hour to calculate your savings over 20 years savings grow due to price inflation I have a solar savings tool which will automate those calculations for you the link is down in the description below time to look at product the key components of a solar system and savings associated with it are what we look at next solar systems capture sunlight produce DC electricity they are mounted on your roof with a mounting system they're pretty common if you use specialized roofs or a ground Mount or a flat roof you will have additional costs the inverters convert DC to AC lexity for home usage and final component is an electrical panel through which the electricity flows into your home battery storage is optional and battery store excess energy for use later or during outes now solar panels are mounted on a racking system they're secure to your roof or sometimes to the ground also you either have microinverters optimizers mostly to maximize your DC output and then an inverter the directly converts your DC to AC either on the back on side of your home or with micro inverters they do it right on the roof so let's look at the top solar panels inverters and batteries in 2021 the inverters inverters act as power converters of solar energy they act as a bridge between the solar panels and your home converting the DC lexity from the panels into AC lexity for your household now the type and quality of inverter significantly impacts your system's performance here are the main types of inverters and their characteristics one string inverters now these are connected to multiple panels in series called arrays and you use just one Central inverter for all the conversion for all the panels they're best for you know open areas minimal shading the pros are there pretty affordable installation is fairly simple the cons are sharing on one panel effects this output of the entire system they're commonly used for commercial solar installs and in solar Farms second type of inverter is the micro inverter these are installed on each panel it allows for independent operation and optimized power production and they do par consump par conversion DC to AC under each pan they best for shaded roofs complex layouts they optimized for performance very easy on system expansion they are a little costlier than the other options a popular choice in microinverters are the nphase iq8 series of microinverters they lead the US residential Market with a 25e warranty third is the power optimizers they usually installed under each panel they do optimization of the DC current being produced by the panels but the inversion occurs in a central inverter they're again good for moderate shading and for uneven panel layouts their Pros are again panel level optimization very cost effective but the cons are they require a central inverter popular choice is the solar a system with the energy Hub inverter fourth are the hybrid inverters these combine traditional inverter capabilities with battery storage now these are best for systems where you are looking to add batteries to solar the prosar of course it's an all-in-one solution it's battery ready the cons are it's definitely higher front cross because of the battery top piics today are the Tesla power wall 3 and you can get batteries with solar Edge through the energy Hub and from n Phase 2 with their 5p system both work well now the key inverter features that you want to consider are efficiency models with efficiencies of 96% or higher ensure you have optimal energy conversion the other issue is monitoring Advanced systems like nphase and solar Edge provide app based panel level monitoring which is great warranty ranges from 10 to 25 years with top brands like nase and solar Edge offering 25y year warranties finally compatibility ensure that your inverter is compatible with the panels and the back that you choose let's look at the top inverters of 2025 starting with the nphase iq8 series The type is microinverters their efficiency is over 97% 25 years of warranty great for shaded and complex roofs and a shade and expensive side solar Edge HD wave optimizers and inverters they a combination of string and optimizers great efficiency at 99% 12 to 25 years warranty great for shaded and uneven panel layouts similarly uh priced as in phas SMS sunny boy is a string inverter 97% efficiency 10 to 15 years of warranty better for unshaded or simple systems definitely cheaper option fonus Primo again string inverter 96.7% efficiency 10 to 20 year warranties great for for hotter climates similar to the other string and bers in terms of pricing Tesla power wall 3 is a hybrid option 97.5% efficiency 10-year warranty because of the battery only meant for Tesla power wall and Tesla systems on the expensive side the solar Edge energy Hub is a hybrid string Plus Battery Solution with 96% efficiency 10 years of warranty good for shaded roofs as expensive as the Tesla power walls the nas 5p Battery Solution built with Micron bers again 96% efficiency a nice 15-year warranty which is more than the others and typically is as expensive as the solar Edge and the Tesla power wall 3 next let's look at solar panels choosing the right solar panel is really crucial for long-term efficiency durability and cost effectiveness of your solar system they are a 25e plus investment so looking at features like high energy output warranties and weather resilience really matter here the features you need to evaluate efficiency higher efficiency panels like sunpow the maxion at 22.7% efficient are ideal for low roof space durability you have the recc and the Panasonic panels great in all kinds of weather conditions very high efficiency to temperature coefficient shows how they perform during high heat the top brand like re and Max maxion they do much better in really hot climates warranty usually most panels have a 25-year product warranty look at how much they have in terms of an energy warranty after 25 years some of the panels like R and Panasonic even include a 25-year labor warranty adding great Extra Value so the top residential panels in 2025 if you look at comparing them we'll start with the SunPower maxion three 22.7% efficient minus 0.27% per degre cus temperature coefficient the smaller this number is the better it is they have a 25-year warranty 92% performance guarantee they are the most expensive of the lot the recc alpha pure R 22.3% this is an outstanding panel minus .25% per degree Celsius temperature coefficient in 92% performance guarantee plus a 25y year labor and they are better priced than the maxion really high performance great for cloudy conditions the qel qron G2 21.8% efficient 30% per degree Celsius temperature coefficient 90% performance guarantee after 25 years about as expensive as the recc great for cold climates and performance the Panasonic everol 22.2% minus 24% deg celius coefficient 92% efficiency and 25-year labor guarantee very stylish the Canadian Solar High q6 21.5% efficient minus. 29% degrees celius temperature coefficient 87% efficience 87% performance after 30 years better for the budget conscious homeowners the jino solar Eagle 2.76% efficiency minus 29% degree cel temperature coefficient 87% performance after 30 years again slightly lower price more affordable great reliable systems so in terms of my recommendations go with sunpow or Rec if you're looking for high-end for balanced performance the qill or the Panasonic are great choices and for the budget conscious the Canadian Solar or Jingo solar provide excellent value let's look at batteries adding storage to your solar system batteries enhance your energy independence by storing excess solar energy for used power outage or at night they especially useful in regions without net metering or with time of use billing goou now the top solar batteries of 2025 are the Tesla power wall 3 they are really built for the Tesla ecosystem very efficient the nphase 5p they pair really well with the nphase iqc inverters they offer fabulous energy management and they integrate really well with the solar panels the LG resu Prime is just a battery it's compact built for durability the solar Edge home Battery Solution again integrates much better with the solar Edge environment they have an energy hub for advanced system Energy Management the Franklin whole home battery doing well robust performance great for residential setups the new Canadian Solar EP Cube very flexible and affordable making the right Financial Choice in this section let's look at the three solar ownership models buying leasing and financing and their financial implication buying solar now buying solar outright involves an upfront payment making it the simplest and the most costeffective ownership the process including approval and installation takes two to four months payments are typically broken down into three stages $2,000 at sign up 60% at the start of construction which is around a month after you sign up and the the balance upon installation and final approval after 2 and a half to 3 months typical installation costs in 2025 after the 30% tax credit if you're looking at an average $100 monthly bill it could be from $ 13,650 to about $16,100 at $200 a month average it'll be from 175,000 to 22,400 at $300 in average per month it'll be from 27440 to 32,900 next let's look at leasing solar leing solar eliminates your upfront costs making it an appealing option for homeowners a lease typically involves a soft credit check and the required credit score of 650 or higher lease terms are usually 25 years and payments begin a month after installation payment types include a fixed monthly payment they stay stable through the year or you have a power purchase agreement payments vary depending upon your usage but your total for the year usually are the same as a fixed lease the benefits from the lease are of course immediate savings lease payments are typically 30 to 50% lower than your normal utility bills you have no maintenance hassles the Solar Company retains system ownership and is responsible for maintenance this is particularly attractive in high electricity States States like California Jersey Massachusetts they offer excellent savings because the uity rates are so high and they also have good incentives some key considerations when you're looking at a lease look carefully at the escalator Clause most Lees have an escalator of between 1.9 to 2.9% annually over time this can actually negate savings if the rates surpass your utility costs look look for Lees with 0% escalators they usually ensure long-term affordability financing allows the homeowner to own the solar system without upfront payments so combines the benefits of ownership with the affordability of a monthly installment now the loan types are two there are high interest loans between 8 to 10% their principal amount is close to the cash price of the system there's basically very little between the two there are no prepayment penalties and this makes it ideal for those who plan to pay it off early second type are the low interest loans from 2.9 to 4.9% or so these have much higher principles because of dealer fees they increase the system costs by 30 to 40% you have lower monthly payments but they're not so favorable if you're planning to do an early repayment repayment because of the increased principal amount the benefits of ownership are incentives you can claim the federal tax credit you can claim any and all of the state incentives no upfront cost Banks pay the installer directly you have long-term savings monthly payments for your solar loans are usually 50 to 60% lower than utility bills State financing works really well in high cost States like Illinois Jersey Massachusetts which offer great incentives on top of the federal tax credit now remember financing assumes that the homeowners will repay the 30% federal tax credit within 18 months if you don't pay the tax credit in 18 months your monthly payments increase after the 18 month period dealer fees are another thing to be on the lookout for they increase your system cost significantly keep sure you are on top of them savings are great for a finance system between 20 to 50,000 let's compare the three models for a cash system the savings are between 35,000 to 75,000 on average for a lease system between 10 to 30,000 for a loan Finance system between 20 and 50,000 these are for average size systems cash systems are fully paid up front the other two have zero upfront cost cash systems have no monthly payments leases have 30 to 50% low lower payments loans have 60% lower payments there's no credit impact when you do a cash system but there is an increase in debt when you do a loan incentives are there for the Cash and Loan no incentives for a lease purchase home value increases are typically there for both Cash and Loan purchases not significantly for lease P lease purchases it's pretty easy selling your home if if you own the system whether with a loan or cash it's a little less easy with the lease the risk of price gouging is very low with cash it's very high with the lease and it's medium with the loan now each option has unique benefits and considerations you should evaluate your own financial situation your financial needs your energy goals and make your personalized choice if you're looking for Co you can email us solar my solar home. us we partner with solar companies Nationwide let's look at the solar purchasing process now first you got to compare your quotes make sure you have three solar installers quoting for you search on Google Maps for a installer near me prioritize companies who have at least 10 years of experience or go for Nationwide installing local companies usually give you better personalized service they use their own employees rather than subcontractors Nationwide companies often have better resources and they do follow strict standards with a robust dealer Network online reviews Check reviews to identify Trends and service quality when looking at Nationwide installers focus on the overall positive patterns rather than individual complaints because of scale they tend to have a larger number of negative comments warranties you're looking for 25 year warranties on the solar panels at least 10 years on the inverters labor and workmanship at least 5 years on roof penetration look for solar panel monitoring panel level monitoring is always preferred in terms of the inverter consider your need whether you need a grid tide a hybrid or an offgrid for example Dan in Florida evaluated four quotes using my downloadable Excel sheet look at the link below you'll see the sheet there you can compare production warranties cost and finally make a decision based on what you need he chose the recc panels with the nas microinverters that was what gave him the most value over the longer term now when you're comparing pricing make sure you're comparing costs for cash purchases solar Lees and Loans separately cash purchases use the price per watt metric this gives you an Apples to Apples comparison across similarly size systems for example Dan selected a quote offering highquality components at $280 per watt balancing both his price and performance when you're evaluating solar leases evaluate the monthly payment also the payment escalator preferably 0% and finally the price per kilowatt hour ensure the total payments for your lease or PPA over 25 years aligns with your financial goals many providers like Sunrun or sonova they handle all the warranties and the maintenance making a lease a low maintenance preferable option as long as your financial goals are met solar loans are great with terms from 5 years to 25 years assume that you'll have to return the 30% federal tax credit within the first 18 months failure to do so will increase your payment significantly watch out for dealer fees these increase the systems overall cost as compared to a cash purchase so compare total loan costs how many payments are going to be making over the time period when you're comparing different loans compare prepayment penalties usually none of them have that and look for the best deal for your situation now some red flags to avoid hidden fees for permit of upgrades which are not mentioned before overly optimistic energy production claims high pressure sales tactics and undersized systems when you reviewing your contract make sure once your installer is set that you have the correct make and model of panels inverters warranties make sure whatever you discussed is there in your contract if there if it's a lease a performance guarantee should be included understand your payment terms especially if you're doing cash or if you're doing a loan when do the loan payment start look for transferability it should be easy to transfer ownership whether you have a lease or a loan some negotiation tips when you're talking to installers ask for a breakdown of dealer fees especially if you're doing a loan try to request perks like free monitoring extended workmanship warranties with the contract signed the focus ships to preparing for installation here's what you should expect permits and approvals your installer hand the permits and utility approvals this can take several weeks during this time there will be a site inspection expect a visit to assess your roof your electrical setup and the shading on your roof the typical timeline for a solar installation takes from between two to three and a half months depending on your system size now ensuring a smooth process requires you maintain open communication with your installer at all time there are a lot of documents which need to be signed we proactive offer full access and your process will go smoothly and fast if you follow these steps as a homeowner you can confidently navigate the solar purchase process whether you're going for a loan lease or a purchase securing your maximum savings and long-term value make sure you do your due diligence compare your panels compare your inverters and you'll make a good informed decision congrat congatulations you are now equipped to navigate the buying leasing of financing solar process like a pro don't forget to reach out to solar mysolar home. us for your free solar quote and best of luck for [Music]