r/solarpower

Is cost the only differentiating factor between panels under 500W and over 500W other than electricity generated?

Are they different in sizing and aesthetics?

Isnt panel with highest watts any day better if its not very expensive?

Hello everyone. I am trying to help my parents out of a solar loan contract. For reasons stated below, I have most information that I believe is accurate but may not have the entire picture. If you make it through this whole post, I truly appreciate the time you took and any help/suggestions are greatly appreciated. If you have any questions, please feel free to ask. I am not a big Reddit poster, so if I didn’t do this properly, let me know and I will provide any info I can.

My dad was recently diagnosed with Alzheimer’s at 62. However, despite the recent diagnosis, I have observed signs of his cognitive decline for the last 6 years. His neuropsychologist even confirmed that his disease may have even been affecting him 10 years ago. Because of this, my dad has a hard time remembering a lot of things in the last several years and my mom was not very involved (in denial and didn’t know about a lot of the very poor financial choices my dad was making) to know the whole story. We have been able to go through his emails to find some information. Along with the memory issues, the doctor has indicated that his ability to rationalize, his reasoning and judgment are all affected and may have been affected as early as 5 years ago, which we believe has led to some very poor financial decisions he has made.

My dad was early on the solar panel hype and I believe got solar panels in 2008. We got the tax credits and benefits and had a warm pool, yay. However, in 2022 he started shopping around for new solar panels. He eventually went with SunPower. They were able to convince him to also get a solar battery which made the loan about $50,000. SunPower only got my dads signature for the loan.

In May 2023, SunPower wasn’t able to get the install done by the agreed time so they sent my dad an agreement for him to sign asking if he wanted Technology Credit Union to finance the remainder of the loan, which my dad signed. So, TechCU holds the loan now.

In August 2024, SunPower declared bankruptcy and no longer does any servicing or maintenance for the solar panels.

SunPower and TechCU never got my moms signature on anything, it is only my dad.

My dad was an entrepreneur and had been trying to do his own company for years, unsuccessfully. He eventually got a job in 2019 but then was laid off during covid and then did some work for an attorney doing Employee Retention Tax Credits for small businesses and got some commissions payments. However, he was not making enough money for a company to look at his background to sell him a $50,000 solar package. We have also found out that he had been pulling from his retirement early and accrued nearly $200k in fines and paying taxes early. Among these things, he also got a $100k Figure loan which has a horrible interest rate, parents have time share loans with terrible interest rates, and some other debts that need to be resolved.

My parents are in a very bad financial situation based on a lot of decisions my dad has made in the last several years.

If you have made it this far, I am wondering if anyone has had any luck trying to cancel a solar loan agreement (recission) on their own without the help of a firm/attorney who does this? Or does anyone have any advice on whether arguing that my dad lacked capacity to sign loan agreements would be successful based on his recent diagnosis of Alzheimer’s? Or has someone had a similar experience? I am trying to do this on my own without having to pay a firm, because the few firms I have spoken to have not sounded trustworthy and I also can’t wait a year or so to get this resolved because they are sinking.Are there any risks in sending a letter to them and asking to have the loan cancelled?

Literally any advice or suggestions are helpful.

TLDR: does anyone have experience sending a letter to a lender asking to have a solar loan cancelled/discharged/reduced due to financial hardship?

There are videos going viral from someone in Oakland who is showing how to plug n play solar panels supposedly legal in California- but some say not until 1/1/2027. This could mean that we don’t need to pay $20k to install solar panels.

But is it true?

Anyone know more about this please share.

Dig deep into every US energy project stuck in permitting and the utility companies that own them.

All on my new site waitingforpower.com

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.

My 10 year old solar system no producing properly.

Anyone have recommendation for repair people in San Diego.

Couple companies I've contacted want 2k to completely diagnose plus cost of repair. We've narrowed it down to possibly bad panels in one or more of the 4 strings.

Thanks

Se durante o dia meu consume for constante a energia solar cobre parte full time ? Tipo gerando e consumindo sem passar pelo relógio

Iam building a home of 4 floors with office in ground floor and first floor 2 rental units and 2 and 3 duplex home. Office is 3 kv single phase and commercial rates applicable as per electricity board. I have a lift of 4-5 kv and I need to back it up for my elederly parents and I have duplex with VRV AC system and I need to back only lighting and fans and lift terrace can approx support panels of 13-14 kv and I need advice

1. Should I go for on grid vs hybrid solar

Hey I,m new to land I wanted to know how get started on getting solar panels for electric how do right way to save on cost were to buy what to do first should u put on ground or on a roof.