u/switchitup_lets

New to solar panels, so would appreciate any advice. I have family in Maryland who was contacted by representatives from their electric company with this offer to install solar panels. I believe it is some form of PPA or lease program.

Cost

The cost of the solar panels per month is the average monthly electricity bill over a set period range. Comes out to be about $130 per month.

After 10 years, they get the right to purchase the panels for $3500.

Benefit

So installing the solar panels would effectively be free since the theoretical generation is more than the typical monthly usage.

In theory, we will have spare electricity to sell back to the electric company at a fraction of what the electric company charges. Some months, we may have some negligible amount of extra income.

Home price may go up a bit.

Unknowns

1. Will property tax go up since home value technically increases during next assessment?

2. Will home insurance go up? Perhaps not during the first 10 years since we have not bought it yet, but I don't know.

3. How good are solar panels after 10 years after we buy it, will it need a lot of costly maintenance?

4. Will selling the home in the next 10 years be a hassle as the solar program has to be canceled or something?

5. Any other things I should consider since I'm a newbie at this?

New to solar panels, so would appreciate any advice on other hidden costs that I may have missed. I have family in Maryland who was contacted by representatives from their electric company with this offer to install solar panels. I believe it is some form of PPA or lease program.

Cost

The cost of the solar panels per month is the average monthly electricity bill over a set period range. Comes out to be about $130 per month.

After 10 years, they get the right to purchase the panels for $3500.

Benefit

So installing the solar panels would effectively be free since the theoretical generation is more than the typical monthly usage.

In theory, we will have spare electricity to sell back to the electric company at a fraction of what the electric company charges. Some months, we may have some negligible amount of extra income.

Home price may go up a bit.

Unknowns

1. Will property tax go up since home value technically increases during next assessment?
2. Will home insurance go up? Perhaps not during the first 10 years since we have not bought it yet, but I don't know.
3. How good are solar panels after 10 years after we buy it, will it need a lot of costly maintenance?
4. Will selling the home in the next 10 years be a hassle as the solar program has to be canceled or something?
5. Any other things I should consider since I'm a newbie at this?

EDIT:

So I am getting buying > PPA > lease.

Though one question about the lease vs buy. Aside from the contract and selling your home would be a pain, wouldn't the other issues also be true for when you buy solar panels (maintenance cost).

Also I am starting to put two and two together on these "representatives". The family recently had their roof redone due to damages, so the roofing folks may have tipped off their friends since it would technically be the best time to install solar panels.

EDIT2:

Found out it was a lease, and after reading the contract, it definitely does not seem worth it as most pointed out. Primarily because the there is about a 3% increase in monthly payments, and the lease is over 25 years. I am still not certain based on wording if we can even purchase the panels after year 10 and call the lease over.

I was buying a ferry ticket in Venice. The payment was successful, but no ticket was printed (saw others have the same issue with this machine). The machine did print the receipt though.

I went to a ticket booth, and the agent told me that I would need to buy a replacement ticket and handed me a piece of paper with instructions on how to get a refund. I went to the website, and there were a lot of information that I could not provide, such as an European bank account, which I do not have.

I was wondering if I should just call my bank and dispute the transaction. Anyone have any experience dealing with Venice's AVM organization?