Solar's prospects dim, at least for near term

[OKIsItJustMe]

http://www.mercurynews.com/ci_11909044?IADID=Search-www.mercurynews.com-www.mercurynews.com

Solar's prospects dim, at least for near term

By Matt Nauman

Mercury News
Posted: 03/13/2009 06:03:21 PM PDT

Viewed by many as a potential bright spot in a gloomy economy, solar power's prospects appear to be dimming, at least for the near term.

Applications for new solar projects have plunged in recent months in California as homeowners and business owners struggle to get credit and rein in spending on big-ticket items such as a rooftop full of solar panels.

"We are seeing lower numbers across the board, although it's too early to say if it's a sustained decrease," said spokeswoman Jennifer Zerwer of Pacific Gas & Electric. The utility administers the state rebates available to customers adding solar through the California Solar Initiative program.

Solar-sector players remain bullish on the long term, and hope the combination of an increased federal tax credit passed late last year and the stimulus package approved in February will persuade people to add solar. They note that more megawatts of solar power were installed in California in 2008 than ever before.

…

[BrklynLiberal]

1. Very self-defeating....

[drmeow]

2. I did my part (not in CA, though)

5 kW system installed last week.

[phantom power]

4. How much did that set you back?

[drmeow]

6. Total cost

about $38K

Utility will pay about $15K
Rebates (state and federal) we think will be about $7 - 8K (it will take a year to get those - but you can bet we'll be filing our taxes at the very beginning of tax season next year instead of the end :))

Our eventual cost $15 - 16K

My understanding is that the price we paid is a lot less than the same system would cost in CA.

[phantom power]

8. You can imagine how not many people have any hope of affording that.

Not very many people could afford that even before the economic shit hit the fan. Now, you've got a sudden surge in people figuring out how to buy groceries this week, combined with a sudden drop in the availability of credit.

Tying it back to the OP, as it were.

[drmeow]

9. Absolutely!

Even with the tax rebates, you have to float that extra cash. We actually signed the contract and then found out 4 months later that I'm going to be losing my job in June. (Luckily we will be able to pay for it even without my job.) Don't know if we would have done it had we known and we've definitely put some other expensive but long-term money saving plans on hold.

Until I heard that I was going to be losing my job my attitude had been to move up some projects that were somewhat longer term in order to help stimulate the economy but now ... sigh.

[phantom power]

10. Ouch, that's lousy timing.

Putting some PV on our roof has been on our "one of these days" lists for a while. Lately I've been wondering if one of us might get laid off before it happens.

Deflationary Spiral.

[ladjf]

5. The price of oil will rise again. I predict that you will be glad that

you invested in solar. Your system will last two or three decades.

[drmeow]

7. I totally agree with you

but I had to wait till my partner was ready.

Originally I wanted to do it last year because the federal rebate was going to change/be reduced but the demand was so high that they couldn't do it till this year ... lucky us :)

[FriendlyReminder]

3. Disappointing.....but don't give up!