SolarZero+/-

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339 posts

Ultimate Geek
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#2459010 10-Apr-2020 16:33

Hi there

Just wondering if previous contributors have any further comments on their experiences - it's been almost 2 years since this was last active.

I'm considering going with Solarzero. The latest offering is $85 + GST ($97.75 incl GST). Still a 20 year contract with battery replacement at the 10 year mark.

Thanks

Cliff

littleheaven

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Uber Geek
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#2459016 10-Apr-2020 16:48

How big is the system and the battery? It would depend on your likely daily generation as to whether it will be worth it. I'm not saving any money but I am less than optimally positioned for maximum sunshine exposure. I do like having a giant UPS strapped to the house, though :)

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PJ48

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#2459024 10-Apr-2020 17:00

We have had it for 1 1/2 years in Nelson. It is definitely cheaper but not as much as hoped. You need to factor in Network costs as well. It is working for us because we get a lot of sunshine.

cb1

339 posts

Ultimate Geek
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#2459026 10-Apr-2020 17:05

littleheaven:

How big is the system and the battery? It would depend on your likely daily generation as to whether it will be worth it. I'm not saving any money but I am less than optimally positioned for maximum sunshine exposure. I do like having a giant UPS strapped to the house, though :)

Not 100% sure of how good/bad the figures are but 295W panel(s) and 3.6Kw invertor, battery has a nominal capacity of 6.4 kWh (usable capacity of 5.1 kWh) with a standard charge rate of 3 kWh and a standard discharge rate for 3 kWh.

Based in Auckland with no issues of shading reducing it's performance

Dezroy

34 posts

Geek

#2648251 5-Feb-2021 16:30

Hi all, dredging up this topic again as I'm now looking at solarZero and they appear to have improved their offering.

A change to the situation from the beginning of this post (in 2016), now any energy you generate from the panels belongs to you so it is free for you to use/store/or sell back to the grid.

For energy from the grid, you're paying wholesale pricing at 15c + GST per day and per unit spot pricing which is capped at 8c/kWh + network and line charges + GST (so around 15.25c +GST).

There's also fibre broadband at wholesale pricing from 2Degrees.

Wholesale pricing on any Panasonic product with 'more membership deals in the works to be made available'.

There is still a 20 year contract but you can pay out early and you will no longer have to pay the monthly fee, but will still have all the servicing/insurance/benefits.
The amount you pay out appears to save you quite a bit going by their examples. I can't make sense of the math though.

You may at any time prepay all outstanding Monthly Payments under this Agreement and continue to receive the Energy Services, warranty and maintenance services for the remainder of the Term. To exercise this option you must be in good standing under this Agreement and give us at least one month's prior written notice. In the case of prepayment, the outstanding Monthly Payments under this Agreement will be calculated with reference to the net present value of the outstanding Monthly Payments at a discount rate of 6%. NPV will be calculated in accordance with the following formula:

NPV = PV1 + PV2 + PVn

Where PV = C / (1+(0.06/12))N

C = the value of the future Monthly Payments and N equals the number of compounding periods.

The table below provides some indicative estimates of prepayment amounts excluding GST, depending on the Energy Services and time elapsed.
If at any time you are interested in prepayment, contact us and we will confirm details.

So going by the table you'd be looking at paying $40,020 over the 20 years for the Kauri plan ($166.75 incl GST per month) vs $24,654.85 for 1 year at the monthly rate and 19 years prepaid.

This seems like an attractive price for 15 panels and 2* 6kWh batteries (1x new battery at ~10 years), and then you're getting the wholesale and price capped grid power too which I assume wouldn't be available to you if you just bought a PV system outright from the start.

Other cons are that if you decide you no longer want the 2Degrees broadband offer, you will get a new 20 year contract that excludes the broadband.

There is also a clause that might not be an issue at all, but does make me raise an eyebrow and that is:

Any tax credits, carbon or green credits or similar incentives and offsets in existence now or in the future are or will be owned by or used for the exclusive benefit of solarZero Energy Services Limited. You will not claim such benefits and will do what is necessary to assign such benefits to solarZero Energy Services Limited during the Term.

What are everyone elses thoughts with the new deal? Did anyone posting earlier in this thread sign up? How are you finding solarZero? Did they offer to amend the contract to give the new offerings to you also?

As you can probably tell, I'm leaning hard into signing up; would like know if people think that's still not a good idea.

networkn

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#2648260 5-Feb-2021 16:59

I'd be ensuring I didn't need to be stuck with the same broadband connection for 20 years. That's insane you'd need to restart your contract. Stand your ground, I suspect they will move on it.

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latimers

54 posts

Master Geek
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#2649528 8-Feb-2021 15:51

I just spent a loooong time on the phone with one of the Solarzero "technical experts".

The deal was we pay $125 per month for 20 years. They provide, install and maintain the system that includes the panels, the battery and the other bits. I would pay up to 8 cents per kWh for anything I need off the grid, plus line charges etc. The 8 cents maximum is to stay fixed for 20 years.

When the "expert" looked at a photo of our roof he couldn't tell what size system they would be able to install because we already have the coils for our swimming pool solar system up there. So their "engineers" would have to do some more investigation to see what size panel array they could fit.

So despite not being able to give me a definitive answer on the size and therefore the cost, he insisted that I sign an agreement giving them the right to install the equipment and start charging me.

I told him I wasn't prepared to commit to anything until I knew what the final details were. He said they wouldn't do the work to finalise the size and the deal unless I signed the agreement. (He pointed out that I had the right to cancel as long as I did it at least 10 days before the installation date.) At that point I ended the conversation.

I have a finance background and, although I don't have enough information to do a full analysis, the whole deal didn't feel right to me. Solarcity projected a saving of $30 in the first year (based on some assumptions that they wouldn't reveal) and savings that would increase significantly over the 20 year term.

If the cost of electricity doesn't go up significantly, I won't save much money. If the cost of electricity does go up significantly, subsidising the cost down to 8 cents has a good chance of driving Solarzero into bankruptcy.

elpenguino

3577 posts

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#2649537 8-Feb-2021 16:08

latimers:

I just spent a loooong time on the phone with one of the Solarzero "technical experts".

The deal was we pay $125 per month for 20 years. They provide, install and maintain the system that includes the panels, the battery and the other bits.

.........

If the cost of electricity does go up significantly, subsidising the cost down to 8 cents has a good chance of driving Solarzero into bankruptcy.

In which case, who owns the asset on your roof?

If you do and they go bust, do you care?

Most of the posters in this thread are just like chimpanzees on MDMA, full of feelings of bonhomie, joy, and optimism. Fred99 8/4/21

latimers

54 posts

Master Geek
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#2649538 8-Feb-2021 16:15

Solarzero retains ownership of all of the equipment right up to the end of the 20 years.

So if they do go bust, presumably the receiver would want to recapture all of the assets and I would lose the guarantee of cheap power from the grid.

elpenguino

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#2649539 8-Feb-2021 16:20

How do the numbers compare to buying a system yourself?

$125/m = $30k over 20 years.

Most of the posters in this thread are just like chimpanzees on MDMA, full of feelings of bonhomie, joy, and optimism. Fred99 8/4/21

gchiu

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#2650426 9-Feb-2021 15:25

From https://mysolarquotes.co.nz/

The rough cost of an installed 6kW solar array with inverter is $13,000 inc GST. The inverter likely has a 5 year warranty, and the panels 25 years of output warranty.

A Tesla PowerWall2 with a 10 year warranty, and 13.5kWh is about $15,000 excluding warranty.

So, we are roughly talking $28,000 + battery installation costs.

So, that's pretty similar to the $125/month except you can't get 1kWh of grid power for 15c. But you can get a night time rate which is close to 50% discount and very close to 15c.

The battery might need replacing at 10 years. And for several summer months you may be paying next to nothing, or, get a credit from your electricity retailer.

BTW, if anyone had installed when I started this thread 5 years ago, that's already 25% through the 20 year period!

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networkn

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#2650430 9-Feb-2021 15:28

I keep thinking that with the increased popularity, the prices will drop and the technology will improve, to the point where it makes sense, but it just doesn't. We are a high usage household in Auckland, no matter how we slice it, I can't see it working for us.

gchiu

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#2650440 9-Feb-2021 15:45

If you're a high usage household then it makes more sense because you send fewer kWh back to the grid.

You really want to consume all the kWh you produce and send none back because you only get a credit of 8c/kWh but buyback those same kWh at 30c/kWh.

As for prices dropping, Westpac said prices had flat-lined in 2019 https://www.westpac.co.nz/rednews/property/solar-panel-prices-hit-five-year-low-so-are-they-now-worth-the-investment-2/

but a 3kW system has dropped from $9k then to $8k now.

networkn

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#2650442 9-Feb-2021 15:50

I can't recall exactly what it was, but I think we needed quite a big system 6KW from memory.

We work during the day, our usage is *much* higher at night and there isn't a practical way to change that.

gchiu

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#2650450 9-Feb-2021 16:04

That's typical for most households and generally reflects heating costs at night.

My experience is that using a washing machine/dishwasher uses negligible power so it's not worth the hassle of timing them to start during the day.

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