Solar Panels for Home?

[ukgaz]

Does anyone on here have Solar Panels for their home? Did you buy or lease and what is your break even point?

What size is your home and does your panels provide 100% or less of your electricity?

I am thinking of getting them but do not know anyone that has them.

Thanks

[lorraineb]

I have them -- no charge -- they company paid to have them installed and pays for all maintenance. I had to sign a 10 year contract at a set rate for the cost of electricity. I lose if it ends up becoming cheaper, but my guess is over the long run it will end up costing more.

[moneysma]

How to the solar panels affect your home insurance? I understand that if anything happens to the panels the company that you leased them with will pay to replace them. But what happens if by some chance your roof starts leaking and when you go to make an insurance claim, they deny you because of some clause in the policy. Then when you go to the lease company, they have fine print in the agreement that you are SOL.

I'm not saying this is the case, but it wouldn't surprise me. Have you checked with both companies to see how things are covered?

[kork13]

How to the solar panels affect your home insurance? I understand that if anything happens to the panels the company that you leased them with will pay to replace them. But what happens if by some chance your roof starts leaking and when you go to make an insurance claim, they deny you because of some clause in the policy. Then when you go to the lease company, they have fine print in the agreement that you are SOL.

I'm not saying this is the case, but it wouldn't surprise me. Have you checked with both companies to see how things are covered?

I don't know anything about the solar panels themselves, but if the leasing company would replace them, that side is covered. As for the home, at least in my (limited) experience, I haven't found home insurance policies to have many "gotcha's" like that (the one exception being flood coverage). The coverages are pretty broad, and with very few restrictions.