skipro33
Thinks s/he gets paid by the post
As the title says, total out of pocket cost is zero dollars to have up to 2 PW2's installed including all permits, taxes, etc.
The program is called SGIP (Self Generation Incentive Program) funded by the CPUC (California Public Utilities Commission). The purpose is to promote distributed energy resources. Meaning; break up the one BIG grid into smaller, even single family rooftop generation. In the process, cut down on the carbon footprint and carbon emissions through solar and battery storage.
Here's how it works;
California, of course, is trying to really roll out alternative energy sources in order to reduce it's carbon footprint by funding the cost of said batteries installed up to $26,400. To qualify you need to have solar on your home, either have to live in a designated high fire area or had at least two PSPS (Public Safety Power Shutoff) where the power company shuts off your power due to fire danger conditions and either on a Medical Baseline rate or a signed document they provide to your doctor stating you are on medical equipment that requires electric power to operate or your are on a well.
For me, I live in the said rated fire area and have had several PSPS events in the past year, so condition one is met. My father lives with me and is on a CPAP machine, so that meets the second requirement of either medical need or a well.
The process is to sign up with either Tesla directly or with a certified installer. Tesla is cheaper, but since the state is funding up to $26,400, as long as the cost doesn't go over that, it's not affecting my wallet. Tesla says they can install for $19,000, but then they aren't having to buy their own batteries either. Besides, a 3rd party vendor doing the install adds value; they are local, they know how to submit the permits and they know how to deal with the local power company to get PTO (permission to operate) once everything is hooked up. From my research, local installers get the job done 30 to 45 days faster than Tesla.
A few documents are needed by the vendor; copy of recent electric bill, doc's letter for medical equipment need, letter from utility that you've experienced at least 2 PSPS's in the past year totaling more than 48 hours, a statement that you understand the purpose and limits of the program.
The funds provided by the state though the CPUC is managed by the power company. In my case, that's PG&E. The vendor submits the forms I sent, after signing a revocable contract, to get the ball rolling. Once approved, I'm put on the list for the funds and a sequence of events are documented in order to release those funds to me. Each step is verified; system compatibility, design, permits issued, construction/installation, permits finalized and lastly PTO (permission to operate) by the utility company. At that time, the funds are authorized to be released to me. That takes from 60 to 90 days.
So that's the only catch; how to fund this project from the time the vendor wants payment at the time the permits have passed final inspection and the time the utility company gets a check to me from the CPUC who gets it from the state that collected the money from Carbon Credits. (Carbon Credits are credits to pollute, purchased by businesses in California who release more than their allotted carbon)
I can either fill that 3 to 4 month gap with my own on-hand cash, pull from an IRA that has that much in cash (I usually have around 20-25% of my IRA in cash/savings), apply for a 0/0 12 month loan with the vendor for a $1,000 fee, or apply for any other sort of financing I would choose to use. Like those cash advance checks the credit card companies offer, for example.
In the end, I have a bullet-proof system of never, EVER having a power outage again. No firing up a generator, cutting over from utility to genny, manually switching off/on solar (Solar can't connect to a genny. The excess power would burn it up) I wouldn't have paid a dime other than floating the cost for a few months and I may still qualify for the federal tax credit for the $26,400 paid by the state. (I'm still not sure if the feds will consider that money taxable, a gift, or what just yet, but the credit is 30%.
The contract allows me to bail at any time up to the start of construction, and requires $500 at the time I'm approved for funding based on my application. The $500 is refundable as well. So, for example, say I've been approved and have the funds in reserve now, waiting for final to be released. I pay them $500 and the engineers come out to draw up the design. Let's say that for some reason, my system needs more than the alloted $26,500. Maybe my electric panel isn't up to code, I want to break out the critical circuits when on battery in order to extend their capacity during an outage, etc. I decide to bail and my $500 is returned. I want to add that the company is local and been in the solar install business since the 80's. Their reviews are outstanding. Employee reviews of the company are also very good. I talked with 4 or 5 vendors and Tesla's sales force and this company, by far and away know much more about this than the others, whom I suspect were all college students between years working a summer job returning inquiries on their program. The salesman I spoke with has been working 7 years for this vendor and was much more mature and knowledgeable about solar, battery back-up, how the program works, time lines, etc. I feel very comfortable going forward with them. I also got several referrals I called and all were positive.
Anyways, whatya all think about this? Am I being stupid? Getting lucky at the inception of this new technology where the state is funding a 'kick-off' to get this industry rolling, or what?
Cheers!
The program is called SGIP (Self Generation Incentive Program) funded by the CPUC (California Public Utilities Commission). The purpose is to promote distributed energy resources. Meaning; break up the one BIG grid into smaller, even single family rooftop generation. In the process, cut down on the carbon footprint and carbon emissions through solar and battery storage.
Here's how it works;
California, of course, is trying to really roll out alternative energy sources in order to reduce it's carbon footprint by funding the cost of said batteries installed up to $26,400. To qualify you need to have solar on your home, either have to live in a designated high fire area or had at least two PSPS (Public Safety Power Shutoff) where the power company shuts off your power due to fire danger conditions and either on a Medical Baseline rate or a signed document they provide to your doctor stating you are on medical equipment that requires electric power to operate or your are on a well.
For me, I live in the said rated fire area and have had several PSPS events in the past year, so condition one is met. My father lives with me and is on a CPAP machine, so that meets the second requirement of either medical need or a well.
The process is to sign up with either Tesla directly or with a certified installer. Tesla is cheaper, but since the state is funding up to $26,400, as long as the cost doesn't go over that, it's not affecting my wallet. Tesla says they can install for $19,000, but then they aren't having to buy their own batteries either. Besides, a 3rd party vendor doing the install adds value; they are local, they know how to submit the permits and they know how to deal with the local power company to get PTO (permission to operate) once everything is hooked up. From my research, local installers get the job done 30 to 45 days faster than Tesla.
A few documents are needed by the vendor; copy of recent electric bill, doc's letter for medical equipment need, letter from utility that you've experienced at least 2 PSPS's in the past year totaling more than 48 hours, a statement that you understand the purpose and limits of the program.
The funds provided by the state though the CPUC is managed by the power company. In my case, that's PG&E. The vendor submits the forms I sent, after signing a revocable contract, to get the ball rolling. Once approved, I'm put on the list for the funds and a sequence of events are documented in order to release those funds to me. Each step is verified; system compatibility, design, permits issued, construction/installation, permits finalized and lastly PTO (permission to operate) by the utility company. At that time, the funds are authorized to be released to me. That takes from 60 to 90 days.
So that's the only catch; how to fund this project from the time the vendor wants payment at the time the permits have passed final inspection and the time the utility company gets a check to me from the CPUC who gets it from the state that collected the money from Carbon Credits. (Carbon Credits are credits to pollute, purchased by businesses in California who release more than their allotted carbon)
I can either fill that 3 to 4 month gap with my own on-hand cash, pull from an IRA that has that much in cash (I usually have around 20-25% of my IRA in cash/savings), apply for a 0/0 12 month loan with the vendor for a $1,000 fee, or apply for any other sort of financing I would choose to use. Like those cash advance checks the credit card companies offer, for example.
In the end, I have a bullet-proof system of never, EVER having a power outage again. No firing up a generator, cutting over from utility to genny, manually switching off/on solar (Solar can't connect to a genny. The excess power would burn it up) I wouldn't have paid a dime other than floating the cost for a few months and I may still qualify for the federal tax credit for the $26,400 paid by the state. (I'm still not sure if the feds will consider that money taxable, a gift, or what just yet, but the credit is 30%.
The contract allows me to bail at any time up to the start of construction, and requires $500 at the time I'm approved for funding based on my application. The $500 is refundable as well. So, for example, say I've been approved and have the funds in reserve now, waiting for final to be released. I pay them $500 and the engineers come out to draw up the design. Let's say that for some reason, my system needs more than the alloted $26,500. Maybe my electric panel isn't up to code, I want to break out the critical circuits when on battery in order to extend their capacity during an outage, etc. I decide to bail and my $500 is returned. I want to add that the company is local and been in the solar install business since the 80's. Their reviews are outstanding. Employee reviews of the company are also very good. I talked with 4 or 5 vendors and Tesla's sales force and this company, by far and away know much more about this than the others, whom I suspect were all college students between years working a summer job returning inquiries on their program. The salesman I spoke with has been working 7 years for this vendor and was much more mature and knowledgeable about solar, battery back-up, how the program works, time lines, etc. I feel very comfortable going forward with them. I also got several referrals I called and all were positive.
Anyways, whatya all think about this? Am I being stupid? Getting lucky at the inception of this new technology where the state is funding a 'kick-off' to get this industry rolling, or what?
Cheers!
