Quote:
Originally Posted by burn_this_city
Firefly showed up at our place this week and gave us a proposal, does anyone know if you can haggle these guys down?
I looked up the equipment cost and it's roughly 1/3 of the total installed cost. I realize people are looking at this as free money borrowed at 0%, but what kind of margins are these outfits making on these?
I don't believe the cabling and conduit is more than a couple thousand, so it leave approximately 15k for labour, engineering, and inspections.
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Their quote seems high. I haven’t fully done the math to compare apples to apples but a colleagues quote was 15k higher than mine with SolarYYC. His home is bigger and probably uses more power so his system was suggested at 15-17 panels where mine will be 14….
But 15k for a couple more panels and a potentially larger/harder install? Seems excessive.
They also quoted him at approx $140/month in loan repayment cost (which is what I expect my loan repayment to be, with 15k less borrowed). They also said his savings would be more than that a month - so it’d be free money. Which I also have to disagree on. Maybe, maybe he does spend $140/month on electricity but the fees are going no where. So raw usage is probably half of that at best, so even using their math and calculations I have an issue.
IMO they do seem to have abnormally high costs for comparable systems to other reputable competitors, maybe due to high overhead, panel costs, labour costs, or profit margins I’m not sure. Their buyback period, loan payment amount, and profit calculations seem dubious at best.
Again, with not enough research/math into their product, at face value a company like SolarYYC seem way better.
Ps. They came by my house last week as well.