EXPOSED: Solar Financing Explained

CALL ME FOR A PROPOSAL [phone]
Two years ago when I filmed this I only worked with Alltech Solar. I now work with over 15 solar companies all around the nation. Reach out to me directly for a quote please.
In this video I am pulling the curtain back on solar financing because it am sick of having to explain how solar and financing companies are tricking you into thinking you're getting a better deal than you really are. Most solar loans have artificially low, bought down interest rates that the customers are buying down without being told. Instead they are told that more legitimate companies are just more expensive and they have better financing available. Really not true most of the time...
If the cash price is less than what the price you are financing, then you're buying down the interest rate and not being told. There is no "cash discount" because it doesn't affect the solar company. If you finance the solar company is paid in full by the bank anyways.
Would you like to get started with a consultation? If so, then please fill out the form in the link below. Once received, my assistant Cody will call you back afterwards to explain next steps in receiving a thorough consultation and quote from us. Thank you for watching the channel.
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Julian Todd-Borden
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IG -Juliantb

[@danielsonsthagen8970]

This panel can put out close to 100 watts kzbin.infoUgkxOqI2yqX0XVrhR2BMJciTWrHJpG8FhJyg when positioned in the appropriate southernly direction, tilted to the optimal angle for your latitude/date, and connected to a higher capacity device than a 500. The built in kickstand angle is a fixed at 50 degrees. Up to 20% more power can be output by selecting the actual date and latitude optimal angle.The 500 will only input 3.5A maximum at 18 volts for 63 watts. Some of the excess power from the panel can be fed into a USB battery bank, charged directly from the panel while also charging a 500. This will allow you to harvest as much as 63 + 15 = 78 watts.If this panel is used to charge a larger device, such as the power station, then its full output potential can be realized.

[@Superiorsolarconsulting]

The setup? What do you mean?

[@ladyauslander6489]

Bravo 🎉 thank you for this explanation!! You should receive a special recognition from a consumer advocacy group for this honest breakdown. Maddening are these sleazy salesman who like to screw over customers and mislead them intentionally. Thanks again for these videos!!!!

[@Superiorsolarconsulting]

Appreciate your nice comment

[@kevinduesing1365]

Not really a shady side to solar guys, he's only showing that the higher interest loan applies more to principle earlier in the loan. Look at total of payments, 189.00 x 12 months x 12 years = 27216.00 total of payments, 181.00 x 12 months x 12 years = 26064.00 and for the 176.00 x 12 months x 12 years = 25344.00. This is just financing we go threw it with cars to. At least in the solar industry you don't have to worry about the dealer jacking up the interest rate like at a car dealership.

[@dsmdriver2588]

When the solar companies approached me they offered 25 years at 0.99% BUT a $9,000 financr charge. I took the 10 year 6.24% with $0 finance charge

[@maddeusdoggeus1]

Looking for financing solar also. What company did you get that 10 year loan with? -Thx

[@dsmdriver2588]

@@maddeusdoggeus1 sunlight financial

[@johnhibbs6508]

Glad I'm paying cash. Keep up the great videos!

[@djabroni_brochacho4644]

Cash is king!

[@rstiosejo]

Talk w/ Cody today. He was honest and upfront about my inquiry. So, I just Subscribed. Will give you THUMBS UP on all your videos. Definitely will refer you to my friends. Stay Safe Ruben Tiosejo

[@LoreleiStockhausen]

In summation: Solar Financing is only better compared to an equivalent bank loan when you pay off over a long term. The solar financing company is gambling on two things. First, you will choose them over a conventional bank. Two, that you will move before your loan is done so that you can never realize the discounted interest. You paid for a lower interest rate over the entire life of the loan and when you sell the unit, you lose that benefit. The buyer doesn't care that you paid a premium for a lower rate.

[@Smarterhometechnology]

fellow solar expert here good job compared to the shady reps out there. they are ruining the industry. however the tax credit is not a rebate you do not get a check.

[@Superiorsolarconsulting]

If you’re a w2 employee it results in a larger than normal refund check. It depends on your situation and how you file

[@caseyhartman7094]

@@Superiorsolarconsulting You missed the point in that there is a difference between a tax credit and a rebate. A 1099 worker is able to lower his or her tax liability, unlike a W2 employee.

[@86steventura]

I just had a solar company go from 1.49 to 1.9, was a little frustrated they changed it on us. After you explained it, it was actually a $600 difference in total cost to get. Saved more by going with the higher rate and I’m sure we will pay it off faster

[@nathanielfincher4394]

Your best video yet! Well edited and straight to the point!

[@Luvariana1]

Thanks so much for the info, I'm currently looking here in Texas and your higher finance breakdown info was Golden sir, I wish you the best of luck in your industry.

[@Superiorsolarconsulting]

Give me a call at 7604735878. I’ll hook you up with the best equipment and no financing BS

[@williamofrights1471]

High pressure sales for horrible customer service and over priced junk. Read all of the reviews. The only reviews with any detail are all 1 Star All the 5 Star reviews are 1 sentence that has no details. This is because the reviews are done by employees and new customers that have not experienced anything yet. What the news reports about all the unhappy customers: kzbin.info/www/bejne/moeUl36qgqmdi8U Look up the Detroit News report as well: kzbin.info/www/bejne/aovKnICpjrN9fMU Another victim: kzbin.info/www/bejne/gKGYfX6YZ8eFZrM

[@shawncochran2410]

tax credit is not a rebate. Only helps you if you have a large tax liability. It's not money in your pocket so I wish people would quit representing it this way.

[@Superiorsolarconsulting]

Luckily there are five consecutive years to take the tax credit so even if you are not in the position to be paying multiple thousands of dollars in taxes each year, there’s a still a good chance you’d be able to take the tax credit. It may just take a few years. And yes I am always very clear that it’s dollar for dollar against your current liability.

[@jasperwilliams5729]

I really appreciated you giving the 8-year break even timeline. my mortgage points already have that same payoff timeline so im financially bound to being in this house for 8+ years that way. sounds like the lower interest rate will be correct for me as long as i can stick to my plan. :D

[@christopheraquino4711]

We used to have PPA Tesla since 2016, keeping it and placing 14 Kw and 2 power walls in addition of 5kw panels, since our 1st time owning, we are paying cash and will get all the tax credit. Thank you to you and all bloggers I learned a lot

[@mec8351]

Lmao. Should have had a bonfire in your backyard instead.

[@shamilranasinghe6247]

I am getting quotes in FL, and I did not know about cash prices. They did ask if I was going to finance....Thanks for the pointer.

[@TheKingOfSwing777]

I usually assume people in suits are the least informed...

[@garytomlinson7580]

Ok…. And it’s still cheaper than what you’re going to pay to the power company doesn’t matter because you have to pay for power…

[@Superiorsolarconsulting]

Yes but buying it would be less

[@josephjohnson6626]

I wish they would have offered me those numbers. My 8k system cash after rebate was 20k and to finance with 1.99 was 28K for 25 years.

[@Okie_Dokie1111]

Hey Julian, I’m in solar as well. I was prepared to be upset with this video thinking you were going to convince people to always go cash but good video. That being said, it is hard to predict with customers the amount of time they’re going to be in the home and a lot of people will say “I’m moving soon” and then 10 years goes by, I’m like “sure you are.” I don’t want to convince folks of betting on moving , and don’t want to overcomplicate their options to the point of cold feet on solar altogether which is a good thing either way, and most solar financing my company uses is transferable. Obviously, not all new homeowners want that debt but if they do want to transfer the loan, old homeowner sells the home for more since it’s a solar home and new homeowners gets a fixed electric bill that’s already semi payed off … BUT new homeowner is not going to want a high monthly payment and interest rate from the last folks that put their system on a high APR in order to move soon. Thoughts?

[@Okie_Dokie1111]

Cash is cheaper of course but it’s strange to have a dealer fee and finance versus cash conversation with everyone if they’re not asking about a cash option. It is a little off putting to me that you’re claiming you’re “exposing” solar financing as if it’s a bad practice. I think you’re explanation of length of time in the home benefit is what you’re getting at in this video. As far as a cash conversation, if folks have cash laying around then go for it but if not, they should still fix their electric bill/ turn electricity payments into an owned asset and use extra cash laying around elsewhere outside of electricity costs and bills to their benefit. That is the benefit of good debt. Do you run into folks getting cold feet on solar because they think cost of financing products is too high so don’t want to commit to that but then also don’t have 20k laying around so they do nothing at all and stay with the utility company that’s the worst possible option? Most folks understand dealer and finance fees are standard with any loan. That’s the price the company pays a lender for a low interest rate and monthly product. Company isn’t going to eat that cost and helps customer get a low monthly. You’re length of time in home convo makes perfect sense but as you said, customer has to bet on the unknown future and get cold feet if you’re going down that rabbit hole.

[@Superiorsolarconsulting]

@@Okie_Dokie1111 I get a lot of people who are trying to figure out why the financing price is so much higher than the cash price. I originally made this video to send to my existing clients so I didn't have to explain it over and over. I have same as cash, no dealer fee options and sell a lot of those so this video explains that's. about 90% of people end up choosing the no dealer fee option after understanding this. I titled the video what I did because without a catchy title nobody clicks on the video.

[@wehh]

it is a 2 year old video, hope my question is still addressed. Most of the financial options, if we don't pay back the federal tax credit back to loan at the end of 18 months, the monthly payment goes up. How that is included in this calculation is not clear to me.

[@Superiorsolarconsulting]

A lot of solar loans have a structure where the loan company will float your tax credit amount for 18 months and give you the payment as if you’ve already applied it. After the 18 months, if you have not paid the tax credit down, your payment goes up to what the amount really should be if you were borrowing the total gross amount versus just the net after tax credit cost. Most solar loan companies build this feature into the product to make the transition easier and not be stuck with a payment that could be higher than your existing bill for 18 months while they wait for the tax credit to come to them. A lot of credit Union loans do not have this 18 months feature so it really depends upon the loan that you are working with

[@MrYayoperez]

Now, that's a great video, Julian!

[@Superiorsolarconsulting]

Thanks!

[@amoswilliams9309]

7kw system before tax incentives $36,000 in South Carolina. I’m like keep your “sun”.

[@Superiorsolarconsulting]

I’d get some more quotes. You should see a price in the $20-24k range gross before the tax credit.

[@lanceballstrong5239]

Bro that’s ridiculous for a 7kw system in SC try and look up a company called Sunmanna in SC they will take care of you

[@lanceballstrong5239]

24K sounds more reasonable for a 7kw

[@Kp-ve9zm]

Keep your increasing energy bill as well 😉

[@brockallstate]

And yet another video I do AGREE on! 🎉 good work

[@AddiBe]

Thank you for the content and your honest way of presenting it. I am in NJ and reached out to Suntuity ($42k for a 10kW system over 20 yrs) and Project Solar ($16.7 for a 6.38kW system over 20yrs) to get some quotes. For a solar rookie who may never build its own system, would you recommend any of these options or something else? Avg. usage 2022 was between 9-24 kWh and considering an EV Thanks in advance! 🙏🏽

[@matthewmaybrier5887]

With that usage and considering an EV, I would probably go with the larger system, however the pricing and payment method will depend on your plans as a homeowner. Just go over what your plans are with your home in the future and when you plan on selling it and what not, and hopefully your sales rep and his team will give you options that fit your situation

[@henrivanbemmel]

I'm in Canada where our federal government will loan us up to $40k at 0% for up to years. However, in your situation, it may also depend on if there are charges for paying the loan off early. Often it's 3 months interest. The other thing I've seen is that from what I've read, the market for a net metered solar set up, mounted on the roof is about $3/W CAD. So, a complete 5kW system might run $15k ... before taxes ... phew😢. All that to save ... maybe $700 CAD a year in hydro costs. Its a 20 year pay off and that makes no sense. However, I was able to source a 5kW DIY kit on-line with panels, inverters, combiner box, rails etc for $5500 CAD. I then pay my electrician $1000 to install it with my help, few permits and then a gov't rebate of maybe $3000 and I'm out about ~$4500 with a payback more like 7 years. How does that happen? How can a contractor charge an extra $7000 just because? Our world is dying. Folks want to help, but the economics are killing us ... whomever is responsible.

[@Superiorsolarconsulting]

You’re buying way more than simple labor and the parts. That electrician has to buy a 70k trust every three years, for example. Your electrician wouldn’t be able to survive if they helped people do diy systems for $1000 a pop. The economics don’t work in favor for anybody in that scenario

[@henrivanbemmel]

@@Superiorsolarconsulting Perhaps, but few residents can financially justify these upfront costs ... whatever the reason. So, it's not going to happen.

[@Superiorsolarconsulting]

Most people who went solar financed it. Then rates went to 9-10% and that wiped out instant savings. It still makes sense if you understand the equity being gained and fixing your costs along with paying down the loan early to get out of that interest. Some people in Southern California are paying 45-50 cents per kWh on average right now so for them it’s a godsend

[@gypsy317]

Hi Julian, interesting sales video, my few thoughts, I think it's estimated that 90% of taxpayers don't itemize on their taxes. If you don't itemize the interest isn't deductible. The problem with these 20 year scenarios is that the salesman is assuming nothing changes over those 20 years. Unfortunately for the homeowner who buys (or should I say borrows to buy) a solar system there are many potential problems that can affect these projections. First of all, the utility companies are going to be always trying to reduce the benefit of solar power. They are going to make changes in the "arrangement" with the customer, always trying to charge the customer more for the right to use their power grid as a giant battery for the solar system. They will try to find ways to charge additional fees to the solar power user. It's a hot topic now but the utility companies usually win in the end. The point is, this uncertainty makes projections meaningless. The other issue is, solar installers go out of business. Also solar equipment manufacturers also go out of business. Good luck getting someone to come and fix an issue with your system if your installer goes out of business. Solar companies are not interested in fixing another company's problems. They are focused on selling new systems. And the fact is no one can predict who will stay in business or go out of business. Same thing with solar equipment manufacturers. Lots of them go out of business also. I'm not a fan of residential solar systems. It's very small scale stuff, inefficient to build and expensive. I think it makes much more sense for utilities to build giant solar systems. The cost is a fraction per watt compared to little residential systems and they have the resources to maintain the systems. Couple of other issues, what happens to all the old panels? Big upcoming issue as panels age, can't just throw them in the trash. Right now I believe you have to pay a recycling company to take them away. I think no recycling companies will take solar panels to be recycled in California because of the strict regulations, so you would have to ship them to a recycling company in another state. Also, Julian sort of glosses over this issue in his video but have you tried to sell a house with a solar system with a lease or ppa? Google other people's experience with that. It's generally a nightmare.

[@Superiorsolarconsulting]

I never sell on interest being deductible. There is so much greater savings than that so I never get into that. In california which is my main market the net metering is a 20 year grandfathering so we do assume not much will change within 20 years. Afterwards I’m sure storage system will be required. Other states have different net metering rules. It is true that it’s a gamble on if the installers are going out of business or not but if these systems are installed well, issues rarely occur. Centralized inverting systems is what we avoid so customers aren’t left out to dry if the inverter fails. I haven’t really studied the recycling aspect of solar in depth to be honest but to imagine that 20 panels being recycled is as bad as burning oil/coal for power instead for 25 years is silly. Just think of how many gallons of oil 25 years will require.

[@shroud1390]

Houses with solar sell all the time. The issue is mostly with leased systems. Also its silly to worry about solar panel recycling. Mobile phones, tablets, TVs are all much bigger problems to worry about. Much bigger.

[@BlackstonianTRD]

Depending on the situation but the loan interest is also tax deductible.

[@jazz82z]

Is solar panels paid off considered “personal property“. How would they be considered “personal property “

[@Superiorsolarconsulting]

Not sure what you mean

[@MrEliwankenobi]

Interesting 🧐, but something I don’t understand…. $189 for 12months for 12yrs = 27,216

[@Superiorsolarconsulting]

I took the tax credits out

[@caliinthevalley24681]

I really appreciate you doing this. I had a solar sales person come to my home and everything he was tell me was too good to be true. All I want is the truth . Wish you were in the Napa Valley.

[@JMana31]

Not sure if you found someone reputable since this post, but I know an amazing and genuine person in Petaluma. Let me know if you see this and are still interested.

[@jeffreytrojacek8809]

Great job Julian!

[@Superiorsolarconsulting]

Thank you!

[@premsun]

Eye opening video ! Thanks for this !

[@Superiorsolarconsulting]

Glad you found and liked it

[@premsun]

@@Superiorsolarconsulting ruled out two things from my wishlist: 1. Power wall 2. 1.99 low interest scammers

[@Superiorsolarconsulting]

@@premsun if someone does need storage I recommend the Enphase IQ battery but in general the batteries are expensive for what they do. Generators provide much more bang for your buck but at certain other expenses of course.

[@GC83163]

Sorry, I'm not following your explanation. You're stating a 12 year, or 144 payments, loan for each instance, and then you're stating a monthly payment. Given that, it really doesn't matter what's going to interest vs. principle - in every case you're fully paid off in 144 payments. So, for the first example, $189 per month for 144 months = $27,216 total of payments. Second example $181 per month would be $26,061 total payments, Third example $176 per month for 144 months = $25,344. I understand how promotional payments work, as I use them in my business, and while I agree a higher interest rate can actually be better, I'm just not following your logic in this example.

[@Superiorsolarconsulting]

The difference is if you pay off your loan before it’s over, in the lower interest rate example the actual interest is built into the principle which means that regardless of the length of the time you have the debt outstanding you have to give them the entire fee versus in the example of the lower principal amount and the higher interest-rate, the interest is just calculated on a monthly basis which means the borrower can get out early on penalized. Even if the lower interest rate option is technically a no pre-payment penalty loan, the fear that was added to the principal is essentially the pre-payment penalty because it is enough to account for the full term

[@ernestoramos2597]

Thank you Julian. About to get quotes for a residential solar system in NC and have been binge watching your videos. I have seen 0.99% interest rate quotes and thought “wow, what an easy way to get into solar” not thinking about the negative side of a higher cost. Do you have any recommended companies or contacts to work with in NC? Appreciate your explanations!

[@manuelmanuel3968]

Hello this is 5 months late do you still need a trusted installer?

[@forcedbreathingistyranny696]

How much is a reasonable cost per kWh for solar panels? I'm in Oklahoma, just got a quote from ADT for 10.5 kWh for $46,000. It seems a bit excessive for me I was thinking more like 25,000. Thoughts?

[@Superiorsolarconsulting]

$3-4/w cash but there are a lot of factor including financing fees

[@adrianbanales144]

This is great info. I just initiated a deal with Semper. I have 5 days to cancel (Jan 5 2022) Would love to have you review my deal and verify if we made a good decision. Will text you later today.

[@Superiorsolarconsulting]

I should be able to do better than semper in terms of quality and pricing

[@dennish4204]

Factor the inflation rate 3% into your calculation. You will see paying cash is not as good as you thought. If the finance rate is lower than 3%, go for financing.

[@darwinjina]

I'm using that strategy for mortgage. (or, I should say that I'm not paying it off ahead of time)

[@turnersinsurance8656]

this is also one of the problems that aren't calculated by most of us contemplating Solar: we hear about the pie-in-the-sky dreamland of 'lower' utility costs, and yet we forget all that several years later when we put the house up for sale, thinking that "well, we didn't have to actually pay for very long, we did o.k.".... until you look at the payoff we had to make to bring the house to the closing table.

[@Superiorsolarconsulting]

Considering you’re only in 70% of the gross cost, it’s near impossible for a homeowner to not come out ahead with more cash in their pocket. It’s simply building equity just like a house payment and the value of the property does objectively go up around $3/w

[@turnersinsurance8656]

@@Superiorsolarconsulting agreed, but at this point, I don't think most of america understands, wants to understand, or wants to tackle how to understand, what solar means on a home they are looking at - maybe it's more pronounced in sunny coastal areas where it might be seen a little more often.. if a new homeowner doesn't understand it, they are likely not to view it as any 'favor' to them, and therefore not a consideration for additional cost to buy the home. I've not seen any statistics from the real estate professions that shows where 'solar' adds any real-world value, at closing, to a home seller. Is it a value if it's only one single panel, or does it have to be the full roof? Does a battery backup increase that potential? Does microinverters give better sale value than a single inverter? I think there are so many unknowns with solar that you would be hard pressed to understand what's already been installed, how it could potentially affect you and your utility bill, and what the maintenance would be in future years - it's not a 'free' thing, it's another 'pool' that must be maintained and kept clean, along with the pump needing to be replaced in some future year, etc. I don't disagree with the potential cost-effectiveness of 'solar', in general, if it's designed and installed and equipped properly, but that, in itself, is such an unknown to any potential buyer, that it still begs the question: Is the homeowner going to be able to recoup their $50,000 solar investment when they sale the home? VERY doubtful. While the 'new' owner might seem to be winning the lottery, just because an existing solar system in on the house they are buying does not guarantee their success. It may wind up being a COST, not a benefit - just ask the new homeowner who had to pay $5,000 to REMOVE their solar system, to have their home reroofed, as they wanted, and then pay ANOTHER $5,000 to have the solar system re-installed. OOOOps. : ) Love ya, keep up the good work!

[@fixittony]

I would think that the tax credit is not suppose to calculate on finance charges....seems like the companies are engaging is some fraud...they are taking a piece of the credit via financing....

[@billionairefaith1]

How do you use the tax credit to pay down if it's not in the form of a refund if you're a w2 worker. It's a tax credit, but if you get money back, you dont get that

[@Superiorsolarconsulting]

You get a bigger refund check if you’re a w2 employee. Feel free to call or text me. 760-473-5878

[@SirGooga]

Very helpful, thank you!

[@luisfarias2585]

Great explanation

[@PYehl1]

What is your thought on using HELOC vs solar loan?

[@Superiorsolarconsulting]

There’s nothing wrong with it if the terms are good.

[@eyesfixednorth]

Best way to do it!!!!!

[@StatmanRN]

Better is a fixed rate home improvement loan [dependong on terms] and a cash out refi

[@Robert-dy8jt]

How does a Solar loan affect my credit? I have 780 score have very little debt, but a the solar system I got quoted was 56k . Will this 56k affect my purchase power for other things, other properties, equipment, ect.. Do you service the Colton ca area ? thank you for your time .

[@Superiorsolarconsulting]

Hi Robert. Wow you have to be talking about a system over 40 panels or something because that’s very expensive. With a 780 score you will qualify for a non dealer fee option that will protect you. Give me a call at 1 [phone]

[@ismaelsantiago4409]

The difference is not that something that make you think a bad financial decision 🤷

[@kurtheitman552]

Hi Julian, what do you think about those solar generators? Which one do you recommend? I can’t go completely solar but would like to have a backup power source. Thanks.

[@LiveLifeGolden]

Thank you for this presentation. For the tax credit, why is it shown as 26% and not 30%?

[@Superiorsolarconsulting]

I filmed this before the ITC was extended through 2032

[@jaybavis5896]

Thanks for video bro nice I've got to call you 👍

[@Superiorsolarconsulting]

Any time

[@jaybavis5896]

@@Superiorsolarconsulting I text you the other day ill call you Monday evening thanks 😊

[@LifeIsGoodThankYouGod]

is guaranteed 25 yearly solar production a scam ? please explain.

[@Superiorsolarconsulting]

It’s usually only 85-90% of the states production when they are “guaranteeing it”

[@karbs76]

Show me amortization schedule . If you aren’t gonna be in the home for more that 3 yEars why get Solar in the first place. The lower interest rate always prevails because you are laying less finance charges.

[@Superiorsolarconsulting]

No it’s the opposite. The lower interest rate is achieved by paying more fees backed into the principal. It makes sense to get solar if you’re moving in 3 years because it’ll retain most of its value in a solar friendly market while the owner gets the 30% tax credit. It depends on the market you’re in.

[@wrenchesnbeer325]

$2300 in "dealers fees" over orinal 20k price is juts above 10% of orinal price tag. The average "dealers fees" I've seen so far is 22%-27% of the original price. Ex. 20k plus 27%(5400)= 25400 new price x(2.5apr)20yrs(12700)= 38100 that's a huge difference!!

[@maddeusdoggeus1]

Long Time Subscriber here👋Thank YOU for all the Great Info! Can You help me? One of my solar installers here in FL says I don’t need the IQ8 micro inverters that there is No Advantage to having them over the IQ7’s seeing I will also have Encharge Battery Backup. Another installer says it would be worth the extra $2K to Future Proof the system… Is that true? The first guy is pushing for 400 REC Alpha’s with IQ7’s. What model IQ7 or IQ8 would best pair with those? Thank You so much for your time and help. ~Travis

[@Superiorsolarconsulting]

Text me 760 473-5878 and we’ll figure out a time to talk

[@marcelinkouassi6424]

Mine cost is $21,398 @ 2.990% for 20 years: the total financing cost $84,624. I find that ridiculous. is that make sense to you?

[@Superiorsolarconsulting]

Not really. Where are you located?

[@TheDiViSion007]

Can sellers take down Solar Systems when they can't afford to pay off the loan before selling the house?

[@Superiorsolarconsulting]

The seller should ask for the value of the solar system in the sale of their home and use the added funds to pay off the loan

[@Superiorsolarconsulting]

It’ll cost more to remove then what the new buyer will pay for its remaining life

[@karlwillner9673]

Julian...........your first example appears for based on a loan % rate of 5.4%..........not 5.74%..........it's only a few $$$ difference I know............but details are details.

[@Superiorsolarconsulting]

I try to be as accurate as possible

[@nicholasbostic250]

I live in Arizona and was quoted 31k for a 7.2kw system with no battery backup. Is this way over priced? Also they were offering the .99% so ty so much for explaining that!

[@Redallstar1]

Wow! I was quoted $27k for a 6.5kw system for a 20 year loan. It comes out to $122 a month. $20,100 for cash.

[@MrBadbonesaw]

yeah, you should probably be 26k for 8.5kw cash price. I could possibly see it up a couple thousand more due to the cost of labor in Arizona. Always get multiple quotes and look at cash price between companies. You can always find financing options through green energy credit unions online. I got 20yr .49% loan as I was happy locking in $110/mo loan payments after applying the federal and local tax credits back into the loan. This way early this year and signed the contract last year so I don't think loans will be that low ever again.

[@bronsonbowden5117]

@@MrBadbonesaw who did you get that loan from?

[@MrBadbonesaw]

@@bronsonbowden5117 sunlight financial. I was approved back in December so it is likely between 3-5% for a similar deal now that interest rates have gone up.

[@MrBadbonesaw]

@@bronsonbowden5117 I essentially bought down points like a home loan. Basically 28k for cash option or 36k financed for 20 years. The government rebate essentially went for 6k to 9k.

[@davidm5818]

Missing out the info on how they charge you massive origination fees!

[@fixittony]

I am finding that none of the 5 bids I got for a system the companies were unwilling to breakdown costs by panel, inverter, labor, permitting, administrative, racks, etc....Not transparent if they can't tell me where the costs are going....

[@Superiorsolarconsulting]

Don’t expect to see that. It’s unrealistic and unnecessary for a company to share that with a client. Everybody has opinions about what a contractor’s profit “should” be when they don’t understand the money it takes to run a contracting company. Also, costs are not exactly known until after the job is done and so all costs are estimated initially based on pricing and estimated labor to get the job done. Some jobs are more or less profitable in reality.

[@philipdamask2279]

I am curious about the 30 % tax credit being applied to the cost of the installed system including the financing buy down amount. Should the federal government be paying 30% of the financing cost of these systems or should the tax credit be calculated on the cash price.

[@Superiorsolarconsulting]

Technically the way the whole buy down fee is structured is it’s a cost to the installer and they pass it through. Because it’s a cost to the installer, you do get the 30% on the buydown amount as well

[@RandyA7]

I wish you would have started the comparison with the total amount you pay for each scenario over the life of the loan and compare it to cash. Then you could do the rest of your comparisons as well.

[@Superiorsolarconsulting]

The point of the video was to face the reality that most of the time there is something that causes an early pay off to occur and in that scenario you’ll be happier you took the higher interest rate with no fee. If the buy down option results in a payment that $10-15 less a month and somebody just pays the payment for the whole time, then yes the buy down needed up in their favor, but that’s more rate than we think.

[@sethtenrec]

Randy if he had done that you could see that the loans that he’s calling the worst are actually the best. I thought this guy was smart but he’s just another salesman.

[@rightpa]

interesting perspective. Thank you.

[@Lugo151]

Hi, how do we contact you if we want to get a quote?

[@Superiorsolarconsulting]

Where are you located? 7604735878

[@bobseibel3526]

Julian - can you refer me to a reputable solar company in Phoenix, specifically the West Valley? Much appreciated!

[@Superiorsolarconsulting]

Yes I work all over. Call or text me if you have not figured out your project yet. Sorry for the slow response. 760-473-5878

[@att2976]

if we are not plan to sell the house , which lengh of loan would you recomemd? 15 years or 25 years loan with 0.99%

[@c.m.redhouse7667]

Southern California here. Got a quote for solar system installation. On an 8.8kW system, year one system production 11,702 kWh...we are quoted over $55K. We're told to be an excellent solar system. Does anybody know if this is about fair amount?

[@Superiorsolarconsulting]

no that is way overpriced. Give me a call at [phone]. I can help you out and save you thousands

[@c.m.redhouse7667]

@@Superiorsolarconsulting Do you serve LA county area?

[@Superiorsolarconsulting]

@@c.m.redhouse7667 yes I do

[@c.m.redhouse7667]

@@Superiorsolarconsulting I am also looking to replace roofing. The solar company that quoted me includes roofing and solar system. Do you contract with a roofing company? And who are you working with in financing? Our original quote was $62K for roofing and solar. Roofing is $21K...that leaves $41K for solar. Then we inquired if they could include AC/heating. With AC, roofing, and solar...the new quote becomes $89K, yet they dropped (during discussion) the $10k for the cost of HVAC. I calculate in my head...$21K for roof, $10K for HVAC...that leaves $58K for solar! So my big issues....since we already got credit inquiry and approved through Sunlight Financial, which financing do you work with.

[@Superiorsolarconsulting]

@@c.m.redhouse7667 too much to comment back. Give me a call and I will most likely have a much better option for you. Yes we do roofing as well. 760 473-5878

[@rajbeekie7124]

I will skip the solar. $20,000 can buy a lot of gas.

[@michaelconley2793]

Looking for someone reputable in Ohio for a ground installation

[@ralphanderson5621]

Great video, we all have to make money right! we just want to deal with an honest person sounds like you are 🤙🏻 can you slang some panels in Idaho?

[@rudramurthykg]

Tried reaching multiple time on different days, left voice message but no luck so far, Hope @julian eventhing is going fine with you

[@CarlosSantos-du1po]

Could you please explain how the math adds up for the first financing option? This cant be for a fixed interest rate. With the interest rate of 5.74%, 5.74% of 20,000 is $1,148. The monthly payment you listed is $189, which for 144 months, would result in paying $27,216. If you're only paying 5.74% interest every month, then shouldn't your monthly payment be an additional $7.97 ((.0574 x 20,000)/12), on top of 20,000/144 = $138?

[@jaygee6673]

you skipped the compound interest class in school....I see...lol jk. Just use online compound interest or loan payment calculator that shows amortization schedule.

[@Skavatar789]

the more of the principal you pay off, the less interest you pay over the long run.

[@RacecarsAndRicefish]

I'm currently buying a house that has leased Tesla solar panels. I'll be losing money on them every month until the lease is over. I can cancel the lease for $1,500 but I cannot buy out the solar panels. would not recommend

[@MrBadbonesaw]

The previous owner should have never done the lease option but financed them instead. They lost all the tax credits and now Tesla basically owns your roof until the contract runs out.

[@fixittony]

Can you comment on a company that doesn't change their system bid between a cash price compared to their 1.5% or 0.49% price? Seem fishy to me.

[@Superiorsolarconsulting]

Better ask for that “cash discount” lol

[@frankrobinson79]

i dont think i want to spend 30,000 dollars on a solar system much less take out a mortage on my house just to finance it

[@Superiorsolarconsulting]

Well that’s wasn’t the point of the point of the video. The ROI for solar makes a lot of sense if you are in an area with expensive electricity and good sun exposure. About 5-7 years on average

[@AnNguyen-vn4sy]

@@Superiorsolarconsulting Only in California, because California rates are so high. Any where else, you can't justify to majority of homeowners to have a higher monthly payment than the utility so that their overall investment in their solar system is less than a typical 25 year term. Speaking of ROI, homeowners ROI is instant the day they go solar anyway, because no one has to come out of pocket (cash) to get solar.

[@Superiorsolarconsulting]

@@AnNguyen-vn4sy and the majority of my business is in California. I made these videos to save myself time when dealing with clients asking me the same questions over and over. I just send them the link instead of hopping on the phone and going through the same info 100x a day

[@jeffreneau9230]

if you pay cash for your system does the warranty coverage change?

[@billsmithersjr.1151]

What happens if the Government eliminates the tax credit?

[@bannertraveller5879]

it was extended and raised to 30%

[@COO698]

Which bank is the best for solar loans. Without dealer fee.

[@W16365]

Does getting a loan on your solar affect your debt to ratio on your credit? Rep told me it’s a home improvement loan

[@Superiorsolarconsulting]

That depends on the specifics of the loan and doesn’t have much with the contractor you’re choosing

[@MrBadbonesaw]

It affects your debt ratio but most solar loans are not connected to anything else besides the solar system. Therefore if the loan is not paid they can only claim their panels back and not put a lien against your home or auto.

[@W16365]

@@MrBadbonesaw thank for answering this, but my question is. Just say you take out a 50k Solar loan. Will this number be held against me when trying to make a purchase for say a car or house?

[@MrBadbonesaw]

@@W16365 yes auto loans and home mortgages have access to all your used and unused credit available. They can see how much you owe on a credit card and what % you are borrowing toward each card's credit limit. I would recommend having your home loan and car loan secured before taking out this much debt. Not really sure how you would add solar without owning a home first 🤔 though?

[@W16365]

@@MrBadbonesaw I already own my home and vehicles, I was just thinking about future purchases as if I wanted to buy the wife a new car and possibly even invest in a rental property, will a Solar loan affect my DTI, that’s the big draw for me. The rep my uncle told me it does not affect you because it like any electrical bill, but as I know if your pulling my credit this is in fact going to go on my credit report.

[@gregcollins3404]

Is it not illegal in the finance world to buy down an interest rate?

[@Superiorsolarconsulting]

It’s completely legal. Most solar loans are being pushed with high buy down fees without explanations of how the loan is structured

[@caseyhartman7094]

Interest rates on mortgages are often bought down. The solar loan companies aren't giving consumers a choice.

[@chadhill6573]

So why wouldn’t you take the .99% and pay $200 a month and your at the best you can be it will be the cheapest way simple math.

[@Superiorsolarconsulting]

It’s not the cheapest when comparing to cash. You always have to factor in the potential early payoff by choice or not by choice

[@anthkubrak7669]

Can you talk about goodleap and their flexpay option... seems too good to be true please break this down

[@MrYayoperez]

Hi Julian. Your mailbox is full!!! Empty it. I have some questions for u. I would like to buy 20 panels to be shipped to DE.

[@gypsy317]

My previous comment pointing out the math and amortization errors in this video somehow got deleted. Oh well, I'll try again. I suspect the suspect math is used by many solar salespeople, assuming no one will ever both to check the numbers. Error #1, the monthly payments, 12 year, monthly pay, $20,000 loan at 5.74% = $192.49/month, not $189 12 year monthly pay $22,200 loan at 2.74% = $181.07/month, close enough to $181 12 year monthly pay $24,000 loan at .99% = $176.83/month, close enough to $176 Error #2, at 6:09 Julian claims that the principal payoff after 3 years for the .99% loan will be $3,000-3,500 more than the 5.74% loan. Not exactly, the principal payoff after 3 years would be $16,206 for 5.74% loan vs $18,274 for the .99% loan, a difference of $2058 but after factoring in the monthly savings of $15.62 x 36 months (on the .99% interest loan) = $562, so the difference between the two loans, after 3 years would be $2058-$562= $1496, NOT $3,000-3,500!! Amazing he didn't bother to look at a loan amortization calculator before making this video (or more likely he knew he was in error but it didn't fit his narrative so he "fudged" it). After six years the lower interest rate loans are cheaper to payoff (taking into account the monthly savings).

[@corysather6640]

typical salesman

[@robertgoldberg2358]

What if we are staying in home for long haul and have a loan period of 20 years or a lot more than your terms? I also have great credit and saw the 25 yr, .99% term

[@Superiorsolarconsulting]

You’re buying down the rate at that point. If you were to never pay it off early then the math could work in your favor. Statistically though, you will end up paying it off sooner.

[@10469]

High interest rate is better?.. 😂 what’s this brainwashing technique? If you tell me that.. the conversation is over !!

[@vincentlabruzzo5368]

I am so torn on going solar or not. Im quoted for a 14kw system that is only going to predicted offset me 82%. $44k system before credits. Im in ny york with net metering..Monthly electric bill currentlyaverage $400. Anyone have input?

[@Superiorsolarconsulting]

Where are you located? Maybe I can give you a better deal. Text/call me 760 473-5878

[@vincentlabruzzo5368]

I'm in New York

[@silverman5707]

Tax credit allowance? Any extra allowance in NY? Looks like spending 50k would be enough to off set whole electric bill with a break even in 10 years.

[@MrBadbonesaw]

That's a massive system .. nearly double mine and I was 26k for 8.5kw. Are you charging EVs or running on a heat pump hvac or all-electric instead of gas? 44 seems reasonable especially east coast

[@davecase850]

Try not to spam your own videos. It only takes ten seconds to cover what Your first two minutes. You over explain and repeat yourself too much trying to explain the obvious.

[@DeAtHvAnGeL]

Hi there what's your opinion on SunPower SPR-X22-360-E-AC (360W)? I have a quote with these panels.

[@Superiorsolarconsulting]

Watch this other video of mine. kzbin.info/www/bejne/rmW2eKl5p9p9rNU

[@DeAtHvAnGeL]

@@Superiorsolarconsulting very informative video there. Thanks. But my main question is about the panels themselves, as they are 96 cell panels I thought they could compare with the Panasonic ones? Thanks!

[@Superiorsolarconsulting]

@@DeAtHvAnGeL email me the spec sheet/proposal. I’ll tell you exactly what it is. What I can tell you though is Tesla doesnt manufacturer solar panels themselves. [e-mail].

[@DeAtHvAnGeL]

@@Superiorsolarconsulting Thanks a lot just emailing you on it. Wish you were over here in the VA area so I could get quotes with you.

[@danielcraig9349]

Might be smarter than the suits, but he's so hot, I didn't hear a word he said the first two times I watched the video...lol

[@pablosteinert5491]

I just got a headache

[@dhavalmistry4570]

Hi, I am looking for solar installation. I need some advice. I already have 9 sunpower panel. It's 9 year old( installed by previous owner) my need is significantly higher. Can you guide me should I go with sunpower, Tesla or any other vendor? I live in southern California (91752).

[@Superiorsolarconsulting]

It’s probably best to have more panels installed but have it be technically a separate system. I can help you if you want.

[@willowoodherbals]

what if you are not one who has to file taxes due to being on ssi? all talk about tax credits yet if you dont pay taxes due to govt benefits,, buying from a company usually adds 2000 to 5000 to buying a small cabin system outright

[@BenCadorette]

You can still file taxes, but you’ll have zero taxable income, minus your rebate.

[@BenCadorette]

^nope!! I lied. Accidentally. Upon further research, a NONrefundable tax CREDIT (such as this) could only lower your tax liability to zero. Which it already is. I’m pretty bummed out about it. Thought I’d found a way to pay off an old lien my parents got into. Off to the coal mines for me I guess.

[@drewd7824]

Is the rebate a set number or a % of the total cost?

[@Skavatar789]

30% off for systems installed by 2032

[@ayrenjohnson]

I sell windows and it's the same way and the same price almost as solar panels. It's not the fact we "Don't tell you" that its cheaper. Maybe the salesman didn't know it was cheaper because they literally just type in number in their computer. I did this for a long time sold 6.9% plans over 9.9% plans because I always thought they were paying less money. It took me a few months to realize this so maybe they aren't aware of that. Just a thought

[@michaelkalish6116]

ome on Julian, why do you always create a vision of leasing being a bad decision. Leasing can be a better option than purchasing. YOU are marketing to your clients ... understood it's your market... but please realize ... YOU ARE A RICH MAN and I AM NOT.... I CAN NOT AFFORD your option... WHY do you always create videos to the rich??? Please explain the PRO's and CON's to the average Homeowners of the United States of America.... If I lease ..... do I not still save money??? verses buying from my current electric provider??? tell me ?? I still save.... correct??? should I go solar to save money or should I continue to pay my electric company for the next 25 years??? I decided to go solar because I cannot afford to purchase or Finance....... I save $100.00 a month for the next 25 years taking in to consideration the inflation rate of ComEd in Illinios saving me $25,000 ..... Should I give it to my electric company or should I save it..... Please let me know if I should go GREEN and put solar on my home >>>OR just stay what I am paying NOW...

[@Superiorsolarconsulting]

Leasing can still save you money but I made this video before interest rates spiked. Going solar isn’t only for the rich. It’s for homeowners in certain areas where they can save money taking all factors into consideration. I actually work in Illinois. I can go through all the options with you. 760-473-5878. Give me a call. When you say you can’t qualify, a mortgage is much more difficult to qualify for so unless you’ve had credit damages while living in your house the worst thing that can happen is simply are denied the loan. Even with a PPA or lease you need a minimum credit score and I even know of a few loan options that will qualify a lower Fico score than the lease requirement.

[@crizvee7247]

How many panels

[@lynnleonard510]

What do know about AB1139?

[@rkgsd]

Does Alltech Solar subcontract installation?

[@Superiorsolarconsulting]

Nope. If you're In San Diego I work with a few companies that do in house work

[@rkgsd]

@@Superiorsolarconsulting What companies would those be?

[@AnNguyen-vn4sy]

Let's make this clear for everyone Julian. I've watched a few of your videos and it's apparent to me that you are trying to manipulate the consumers to believe that you're the "good guy" in the solar industry. Most people go solar for many reasons and one is to have a lower monthly bill in addition to a cut off date for buying their electricity. That is why we typically recommend a 25 yr term with a lower interest rate (low monthly payment). When homeowners sell their houses, they're able to recoup some of the money invested into their solar system as well as offer the remaining term to the new homebuyer with a low monthly payment as oppose to a higher monthly payment and high interest. Since you're so angelic with your approach to try and protect homeowners from these "shady solar salesman". The incentive for YOU to explain it this way to justify to homeowners to take the higher interest is because it lowers the loan dealer fees which comes from your commission of course. The higher the dealer fees, the less you would make on a system, the lower the dealer fees, the higher your commission. You can look us up SunVena Solar from Sarasota FL. Our families love us. You're a wolf in sheeps clothing.

[@Superiorsolarconsulting]

I was born in Sarasota actually. Small world. I appreciate you commenting but why the hate? I give my customers the option to do short terms, long terms, same as cash, buy down the rate (what we call dealer fees) and let them choose. When you buy the rate down the "dealer fee" is added to the cash price that the solar company is actually taking home and it has nothing to do with commissions.

[@AnNguyen-vn4sy]

@@Superiorsolarconsulting I love my job, I love sales. I also understand the tactics that you're using to set yourself up as the "go-to trusted" source regarding solar. It's manipulative at best. For the majority of the people watching, probably wouldn't even recognize the effects that it has on them. By saying "EXPOSED" or the solar company "doesn't want to tell you", is reverse psychology. Homeowners will automatically think, "if he's exposing them" and himself essentially, he must be trustworthy. The reality is, each term, rates, leases or ownership has its purpose. By slamming other solar advisors and companies, because you want it to fit your narrative is manipulative. You know exactly what you're doing. Want what's best for the families that want to go solar, then tell it straight up. Facts on facts and what's best given the scenario of which the family's best interest is at play.

[@Superiorsolarconsulting]

@@AnNguyen-vn4sy lol dude… I made this video to explain how buying down the rate works which is not a commonly had conversation reps have with their clients. In fact I get several calls a day from people that literally are explaining to me that they are stuck in the situation where they are confused why the financed amount is literally $10,000 more than what the cash amount is and that they just don’t understand it and that my video cleared up all the confusion. So, I’m pretty sure I am doing what you told me I should be doing which is telling people straight up how it all works. I never force anybody to do any type of loan. I just lay out all the options and let people choose what’s best for them. You’re not the first solar sales person that has been triggered by my videos considering most of the practices you most likely use are maybe spoken negatively about in my video. But, to your earlier point, sometimes the buydown programs work better in other states where payment is more important. 90% of my business is in California and over half my deals are cash. Most of my financing deals are people looking for bridge loans anyways. Thanks for commenting. Helps the algorithm push the video more!

[@enriqueromero7702]

Finally someone said it !!!! Let me put this in simple words why would a customer who is not going to live in a house for the next 25 years get a higher interest rate that makes zero sense I would agree with them if the customers gonna live there for the rest of his life but if he’s not, you have literally messed them up

[@bengiland9612]

Solar sales reps get paid per total kilowatts sold. If you sell a shorter term loan with a higher interest rate you make the same amount of money as selling a longer term loan with a low interest rate.

[@chrisperry3525]

talked with one solar company...'we don't finance' he tells me, then w/ my elec bill at $240/month thru him it's only '241 a month for 25 years'...that's 90k, and he wanted my tax credit to get it that cheap!....the equipment is about $30k...can you say rip off?

[@Superiorsolarconsulting]

where are you located? I can probably hook you up without the gimmicks

[@chrisperry3525]

@@Superiorsolarconsulting beaver, pa. Use about 1750kw/mo on average. Full sun all facing south ground install

[@Superiorsolarconsulting]

@@chrisperry3525 I can service your area. Give me a call [phone]

[@TheTruthAboutBitcoin]

i can’t recall the math fully but after about 18 months the 6.99 with zero dealer fees exceeds the price of a 1.99 with a 26% dealer fee. if anyone wants to do cash i always just finance with the zero dealer fee option to allow them a few months to pay the system of in there own way versus doing the 1,000 dollar check and all that headache. hope that helps!