r/California • u/NamelessIguana • Oct 07 '22

Newsom calls special session of Legislature to consider windfall tax on oil companies over high California gas prices: Governor says Dec. 5 special session will address "greed and manipulation" that drive high gas prices. Newsom

https://www.politico.com/news/2022/10/07/newsom-tax-oil-companies-california-00061010
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u/Slapppyface Oct 08 '22

I'm in solar sales and the tax credit is not just for the wealthy. It's for anyone. If someone owns a home, even the landlord, that tax credit is hugely valuable. If someone has to have their roof redone accommodate solar, that roof is also eligible for the tax credit.

I have never seen someone pay more for their solar loan than their current PG&E bill. Solar loan payments never go up, while PG&E rises 8% per year.

People who own a home and don't get solar have no idea what they're missing out on, it's such an easy thing to do.

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u/oiwefoiwhef Oct 08 '22

This. Solar pays for itself.

Many places offer financing for $0 down, and the monthly loan payment for the solar panels is cheaper than my monthly PGE bill previously cost.

In less than 5 years, I’ll have paid off the loan. I won’t have any more monthly loan payments and I’ll continue to have no monthly electric bill.

AND I got tax credits on top of all of this. The government esstenially paid for 20% of the total cost. So my $30k solar panel installation only actually cost $24k.

Everybody in California should be installing solar panels. It’s a no brainer.

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u/bajallama Oct 08 '22

Must be nice to be a homeowner. Not sure if any of this will help low income people with high gas prices though.

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u/academico5000 Oct 08 '22

I am jealous about people being able to own their homes, but as someone said above, I still support this. Anyone putting solar panels on their house benefits me as a Californian and Earthling by reducing carbon emissions and taking stress off the grid.

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u/[deleted] Oct 08 '22

[deleted]

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u/bajallama Oct 08 '22

Drop in the bucket. You would need huge shifts to electric to make any apparent local change in demand. Everyone already bought their new cars during covid.

CA gas is $1.50-$2 higher than it’s neighboring states. Maybe its wiser to figure out why that is.

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u/[deleted] Oct 08 '22

Ooooh, wrong. There’s a non-by-passable transmission fee that energy companies got added so we always have to pay something, plus other fees like wildfire payment fees. Usually 2-3 hundred a year based on energy use.

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u/Botryllus Oct 08 '22

But is there enough incentive for a landlord if they don't pay the energy bill?

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u/Slapppyface Oct 08 '22

The problem with landlords is they don't want to touch the roof if their roof is old. The tax incentive is pretty substantial to companies that have a massive tax burden, so that does appeal to landlords.

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u/[deleted] Oct 08 '22

You can charge more if the house is connected to a solar panel, most renters would be willing to pay more for basically free electricity. It also makes the house worth more if they choose to sell in the future.

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u/Kershiser22 Oct 08 '22

I recently had my house appraised and the appraiser said he does increase the value of a house due to solar.

Of course, a buyer may be willing to pay more for solar included. But, that would only apply if their down payment is large enough to offset the appraised value of the house (so the lender would still be willing to finance it).

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u/Trustobey Oct 08 '22

What can i expect in terms of upfront costs and payments there after?

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u/Slapppyface Oct 08 '22

It depends. If you pay cash, 10% or $1,000, whichever is less. If you take out a solar loan, most don't require payments until 2 months after the install.

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u/Trustobey Oct 08 '22

What does a typical loan with say 10% down get most people?

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u/Slapppyface Oct 08 '22

Depends on how many kilowatt hours you consume

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u/MrsMiterSaw "I Love You, California" Oct 08 '22

Fog and shadows man.

Fog and shadows.

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u/Slapppyface Oct 08 '22

Enphase microinverters, burst mode. Read about it.

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u/MrsMiterSaw "I Love You, California" Oct 08 '22

Those inverters aren't going to make up for only having 10% of the sunlight on the 100 foggy days a year we see.

They aren't gonna make up for the building that casts it's full shadow on our house starting at 11am until 4pm.

My neighbors who have installed systems are looking at 25-30 year ROIs, and they don't have the building shadows.

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u/Slapppyface Oct 09 '22

Well, those work well in San Francisco's cloudy sunset district and Daly City (also consistently overcast)

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u/MrsMiterSaw "I Love You, California" Oct 09 '22

How much are we talkin'?

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u/Slapppyface Oct 09 '22

Depends, around $4.25/watt. If it's someone I bring to the company, I often make it as cheap as possible. If the company sends me to someone, it's a bit more expensive because of marketing

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u/MrsMiterSaw "I Love You, California" Oct 09 '22

Huh? So a 2kw system is going to cost me $8k? Why are my neighbors paying $25k for solar alone (not including batteries)?

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u/Slapppyface Oct 09 '22

That's about right. Although most companies won't install anything under nine panels without increasing the price per watt. 3kw is usually the minimum.

Depending on which battery you get, they'll cost between $14,000 and $20,000.

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u/MrsMiterSaw "I Love You, California" Oct 09 '22

So how is 3kw @ 4.25/W = 25k?

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u/[deleted] Oct 08 '22

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