Solar Roof

Solar Roof Progression (UPDATE 5/19)

****UPDATE: 5/19/2020****
**Updated Pricing Across the Board**

Live data tracker!!!! https://drive.google.com/open?id=1dT4SJZRL1BQk0N1S82U1ozSqGF25EA0g

Solar Roof Cost for my house:
1,859sf Roof
9.36kW System
Est. Annual Production: 8258 kWh
NO POWERWALLS
$35,202
-$2,184 (NYSERDA Rebate)
-$100 (reservation fee)
$32,917 Total

Financing Info:
20 year loan @ 6.99%:
$255.01/mo

NYS Tax Credit: $5,000
Federal Tax Credit: $5,877
Total: $10,877

Shingles Roof Estimates: ~$16,000

Life span of Shingles Roof: ~25 years. Life span of the Solar Roof: 60 years. I think its more realistic to use 50 years.
Shingles Roof needs 2 replacements by the end of Solar Roof life, which translates to ~$32,000.

25 year warranty guarantees 87.5% of solar's nominal rated power generation due to degradation at the end of the warranty.

Solar Power Region Info for Albany, NY: See data tracker for more info.
Potential Annual Energy Generation: 8,258kWh
Potential Annual Value of Energy: $929.02

50 year cost:
Shingles Roof: -$32,000.

Solar Roof CASH Cost:
Electricity Value: 900x50x0.875= +$39,375
Home Appreciation Value: ~5% (traditional solar panels) = ~+$10,000
Tax Credits: +$10,877
No Roof Replace @ 25years: +$16,000
Solar Roof: -$32,917

Add them all up and you get: +$43,335

Solar Roof LOAN Cost:
Electricity Value: 900x50x0.875= +$39,375
Home Appreciation Value: ~5% (traditional solar panels) = ~+$10,000
Tax Credits: +$10,877
No Roof Replace @ 25years: +$16,000
Solar Roof: -$61,201

Add them all up and you get: +$15,051

Break Even CASH:
Time to break even: 10,000 + 10,877 - 32,917 = -12,040
-12,040 + (900*X) = 0
X = 13.37 years

Break Even LOAN:
Time to break even: 10,000 + 10,877 - 61,201 = -40,324
(-40,324 + 16,000) + (900*X) = 0
X = 27.02 years

Currently still waiting for an installation date......

Comments

  • Did you get update on the installation date?
  • Not yet unfortunately.
  • I got to speak with the scheduling team and they said they are installing at reduced capacity and getting it done this year is not probable :(
  • ya last time i talked to them i said i needed it done this year
  • I just called these mother %&#*($&#*('s again and they said they havent even submitted the permit.

    What the actual f#$% Tesla? These morons have held this up for literally 4 months.
  • @andy_connor_e - The problem with high demand and limited resources. Hard to say what the holdup is - could be they don't have enough qualified roofing crews in your area or the demand has outstripped the current production capacity. Mine took about 2 months from signing, but then we had another 6 weeks of rain delays. Both Tesla and I didn't want to start until we expected at least a week of dry weather. Turns out the house was only at risk for a day, and even then they covered the roof overnight just in case.

    Note that there is no way any work can be done in the rain or if the roof is at all wet. Several days they had to wait an hour or two for the partially completed roof to dry off from morning dew. The glass tiles are very slippery when wet.

    In all, I'm very happy with the roof, but I also needed the roof done. The old one was leaking and I really waited a year more than I should have before getting it replaced.
  • They literally said the permit had not been sent to the state, so i've been sitting here for months having nothing going on while i've been calling regularly asking if theres anything requiring my input to move forward, im told no every time. This is just making me want to cancel. A whole summer of wasted sunlight
  • @andy - not to give Tesla a break, but they have to have the entire project worked out with roof locations for tiles with solar cells, diagrams, etc. The package is not trivial and has to be customized for each site. I think mine was about 20 pages. That has do be done before submitting get the permit. Also, the permits are usually with the local building codes office for your city, but perhaps if you are in an unincorporated area there is some state permitting?

    I wasn't as much of a rush for solar because I already had a solar system, but it was much smaller than the Tesla system that replaced it. My problem was roof leaks and a failing roof - so different pressure.
  • I'd just like to have it done before the end of this year for the tax credit. Now that im getting a tesla i'd like the gas generator so to speak.
  • New York State has a Tax Credit? California no longer has a tax credit because PG&E charges so much for electricity, you do not need one for an incentive. 28 cents per Kilowatt hour pricing makes solar panels a 10 year pay back proposition without a State rebate in California using only the Federal Tax Credit. With the prices you pay PG&E over 25 years, it works out to 5% annual return on your investment after the Federal Tax Credit if you figure the system will depreciate to $ 0. But the roof will last longer than 25 years and the solar is still going to be at least 80% active. The potential value of energy on your system in California paying PG&E would be $2,312.24 a year X 25 years = $57,806.00 over 25 years on an electrical system at todays prices.
    With the usual 4% increases charged each year it could be more like $86,709.00 in savings not including any Tax Credits providing they do not end "Net metering" in California. The solar portion of your system costs $28,080 and it is also half of the roof. The other half of the roof is $7,122.00 for just roof. Glass, in buildings over 200 years, is still there so the roof could out last your house. If you do not depreciate the Tesla Glass Roof, your return would be more like 12% return per year on your money. Because your home is appreciating in value, the whole house is appreciating along with the Tesla Solar Roof at 12% per year as well in most parts of the country. And you and your home are GREEN.
    Roof tiles just POP into place when replacement is needed so if you can get a few active and inactive tiles from the same batch and store them in your garage so 20 to 30 years from now, you have a few replacements that look the same as the rest of your roof, it might save you some head aches later when series 8 tiles are the only ones available and won't fit your tile system.;)
  • ya NYS has up to $5000 back

    https://www.tax.ny.gov/pit/credits/solar_energy_system_equipment_credit.htm
  • Just got an email from someone at Tesla asking me to sign the final document needed that they would be able to obtain the permit once they get the signed document that i promptly returned to them about 15 minutes after. By some miracle the roof might go in before the snow falls.
  • Don't get too excited. I signed final documents in June and still don't have a permit! The city sent minor corrections back to Tesla on Aug 15 and they still haven't re-submitted.
  • I signed my final documents back in March. There was a smoke detector compliance form they needed a wet signature for to get the permit. They told me they submitted the permit last month so i suspect more likely the town responded requiring this document before they get it back. Thats what was just told to me yesterday, however the wording could be interpreted in different ways. Either way, they know this roof needs to be completed before the end of the year or im not going through with it despite how close i may be.
  • So they did in fact get the permit back yesterday and i got a text to call the scheduling number like 10 minutes ago. However, just informed me that they're pretty much booked through 2020 in my region and that they would need to somehow increase installation volume to get to me this year. That pretty much goes against everything i've been telling them, and will miss out on the tax credit. Good job im glad that they milked 3 months waiting doing absolutely nothing so that it could get pushed to next year. And it took this long to assign an advisor to my account in which an actual person is now in my solar roof account at the bottom for contact info.

    Looks like Tesla got their shit together just short in time. Maybe by some miracle they will find a way to get to me this year. So far miracles have been in very short supply.
  • @andy, that's disappointing. I hope they come through for you. Seems like the solar roof demand is massive. Within 6 blocks, I've seen two other solar roofs go on after mine, and I wasn't even looking for them. I'm was also surprised at the number of people that stop by to chat about the roof if I happen to be working in the front yard.

    On the tax credit, if you can figure a way to pay 10% of the total amount before the end of the year, you can deduct the entire amount this year and get the higher 26% tax credit instead of 22% next year.
  • Contractually, they get 50% of total payment at the beginning of the construction period. But the fine print for the tax credit indicates that the installation has to be completed to obtain the credit, kind of like how the vehicle tax credit required that the vehicle arrive at your door, regardless if its in transit.
  • @andy you may be right. It's not entirely clear to me, but most IRS instructions leave a lot to be desired. Best to consult your tax advisor!
  • At least you have some movement. I have been waiting in Northern Virginia since 2017. Hang in there as it is still good for the environment no matter when it is installed.
  • I actually just reviewed this. I cannot find any reference to when the solar system needs to be completed. The only thing the IRS and the state require to get the credits is proof that you spent the money. So probably when installation is completed and you get the final receipt, but would not need to wait for the system to be turned on which can take weeks. So really all i need is proof of purchase with receipts which the loan documents and final invoice from Tesla would cover. Good thing i double checked this.
  • I've lived by the old axiom "It's better to apologize, than to ask permission". Worst case is you'll pay a small percentage for declaring your system in 2020, rather than 2021, if tax law specifies. The burden for proving purposeful fraud is much higher, and the penalties are much larger. Plus, the odds of you being audited are negligible. Depends on your comfort level. YMMV.

    As always, if you have serious concerns about it, consult with a qualified tax advisor. I am not one.
  • its pretty clear what to do. Im not going to file this for 2020 if its not done. Its simply not worth it. We're talking less than 1 thousand dollars in tax credit loss from 26% to 22%. The principal is frustrating.
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