What are Edison’s Residential Rate Plans?
While Tiers 3 and 4 rates decreased, Tiers 1 and 2 baselines also decreased which means users will be moving into tiers 3 and 4 faster, using more of the higher priced power than they were before. Tiers 1 and 2 increase along with the reduced baseline expands our market to prospects with lower bills. People with sub $100 utility bills, previously tough for us to sell on solar economics, will be feeling the pain as soon as these first bills are received. There’s new opportunity in this market!
How can I save money on Time of Use Rates (TOU)?
- The utility recommends lowering your bill by lowering your electricity use during summer On-Peak hours when the cost of electricity is highest. If on the other hand, you are not able to reduce energy usage during the summer On-Peak hours, SCE has compiled a list of other ways your business can save energy based on your industry. Click here for tips.
I’m a residential customer—will I be switching to Time-Of-Use?
- No, you will not. This required transition is only for non-residential customers. However, there are Time-Of-Use (TOU) options for residential customers. Click here to find out more.
What does a typical residential job schedule look like?
- Although there are numerous variables in the completion of a job, a typical job can be completed between 30 to 90 days.
- Here are some of the critical steps that the client and the vendor need to consider:
- Does the roof need to be repaired before the job begins?
- The system design needs to be completed and the city permit needs to be obtained. The time will vary from city to city
- The materials delivery, depending on the complexity of the job can take 15-45 days
- Once the materials are available, the installation is scheduled and it can be accomplished in just one day for a small job of a couple of weeks for a sizable commercial job.
- Once the installation is completed, the inspection and commissioning of the system should take no more than one week.
- Once all the paperwork is submitted to the utility, the utility will issue a permission to operate… This approval will vary as well depending upon the size of the system
How soon can I start saving money?
- You can be cash-flow positive the month after your system is installed. In fact, you should not consider a solar system otherwise!
How do I finance my system?
These are the most used options in the marketplace today:
- Cash purchase – It has the most up-front cost, best ROI (Return on Investment)… Hence our company’s name.
- Secured Loan – Requires home equity, but it provides you the lowest interest rate and it tax deductible.
- HERO / PACE funding – Only in select markets (specific cities). It does provide a low interest rate and terms. Payments are added to your property tax bill.
- Lease / PPA – No direct ownership, no operating or maintenance costs. You do not get the ITC (Investment Tax Credit). The lessor takes the tax credit, the depreciation and potentially the REC (Renewable Energy Credits).
- Unsecured Loan – Higher interest rate, available in all markets.
How big of a solar system do I need?
- A typical home will use 2 kWh of electricity per square foot (sqf). For example, a 2,000 sqf home will use an average of 4,000 kWh per month or 133.33 kWh per day.
- Take a close look at the at the Residential Rates example in this FAQs… If this is how much electricity you are using, you are paying a lot of money to SCE!