One on One with Francie Finn
By Gina Dostler
After 20 years in radio sales, Francie Finn put on her green cape, got certified as an energy auditor and is now doing her part to cut greenhouse gas emissions with solar power.
Q: Why is now the right time to install solar for your home?
A: The 30% federal tax credit for commercial and residential solar energy systems such as solar panels has an end date of Dec. 31, 2016. Right now it is unclear if the tax credit will be extended. It’s a decision that will be made in Congress. Also, the utilities have a big incentive, which will be expiring called net metering for their solar-generating customers. If a system is installed after net metering expires, credits generated by the customers will no longer be credited at full retail rate. It will be closer to the wholesale rate (the actual price of the credit is yet to be determined)
Q: Please explain?
A: When you install a solar electric system, your relationship with the utility company changes. You are no longer a power purchaser; you become a power provider. In other words, they literally have no power over you. They can’t turn off your lights. Net metering is similar to an ATM machine. You can pull energy off the grid and deposit it back. So you are constantly borrowing and giving to the grid. Instead of a bill, you receive statements on your usage that fluctuates, some months it will be negative (you produced more than you used), some positive (you used more than you produced). And at the end of your 12-month period, you either owe the electric company, or they owe you.
Q: So what is their 2.0 version?
A: The utility companies’ Net Metering 2.0 version will not pay full retail for your [energy] credits. You will be credited for the energy sent back to the utility at a wholesale price instead of the full retail price, which will most likely make it necessary for you to purchase electricity back from the utility at night and during the winter months. But those who buy a solar system before the electric utility reaches its net metering program limit will have a grandfather clause.
Q: Grandfather clause?
A: This allows existing solar electric users to still receive full retail credits for the next 20 years for the energy they generate. Those who purchase their system after the net metering program reaches its limit (which could be by the end of this year, or the given deadline of July 1, 2017 whichever comes first) will not get the benefit of full retail credits. It’s a funnel system. The more people who buy solar installations, the sooner the 2.0 will be implemented.
Q: How expensive is it to purchase solar panels?
A: It really isn’t. It really is a no-brainer as they say. Pricing for the equipment is on a per-watt basis, which can vary, depending on how the home faces the solar azimuth; and the type of roofing with tile and metal roofs more expensive to install.
Q: Can you give a breakdown of costs?
A: If you have a $200 average utility bill, that would be approximately a 5kW (5,000 watts) system. With 250-watt panels, you’ll need 20 panels, which will cost on the high end about $25,000 total, minus the 30% rebate of $7,500 you’ll receive as tax credit. We finance the $17,500 left after the rebate, with your commitment to pay the $7,500 back within 18 months. At a finance rate of 5.99%, that will leave you with $130 per month for 20 years; or 3.99% at $158 per month for 12 years, so the payments are generally less than the utility bill of $200 you were previously paying, plus you own the system. Also under the California Solar Initiative Act, solar is the only home improvement that does not increase your property tax. So instead of paying the utility company, you divert the money into paying for your solar energy home improvement and removing yourself from the grid, and the control of your utility. Add some energy efficiency measures into your home, and get to net zero utility consumption.
Q: What’s the warranty?
A: 25 years for the solar panels. The inverter, which converts DC power to AC power, is 10 – 12 years. The inverter is really the “brains” of the solar system and most of the R&D goes into making it more efficient in conversions. When it needs to be replaced, you will get the newest and greatest technology. It retails for about $2,000 but we give an option to extend the warranty in our contracts.
Q. What if the technology changes and gets better or more efficient?
What I usually tell people who say they are going to wait for the panels to get smaller or more efficient, etc., is it’s irrelevant. If it wipes out your utility bill and it is affordable, that is all that matters. That is the ultimate end goal.
CONTACT INFORMATION
Francie Finn
Infinity Solar Inc., License #: 953928
2460 N. Glassell St. Suite A
Orange, CA 92865
415-571-4117
Franciefinn1@gmail.com
