She Bought Solar Panels... Then Got THIS Bill ($257,000)

Doc Rich

Homeowners are speaking out about the dark side of rooftop solar. From $257,000 balloon loans to ruined roofs, here is why many regret their panels.  Merch: docrichclothing.com  Facebook: https://www.facebook.com/therealdocrich/  Discord Link: https://discord.gg/Gz8naHHEH3  To Donate And Support The Channel Paypal: https://www.paypal.me/therealdocrich  Merch: https://docrichclothing.creator-spring.com/?  Rumble: https://rumble.com/c/DocRich2  Second Channel: https://www.youtube.com/@xtrarichh  Instagram: https://www.instagram.com/therealdocrich/  Twitch: https://www.twitch.tv/therealdocrich  Follow us on twitter: https://twitter.com/therealdocrich?lang=en   Instagram: https://www.instagram.com/therealdocrich/  *Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use. No copyright infringement intended. ALL RIGHTS BELONG TO THEIR RESPECTIVE OWNERS*  #solarpanels #realestate #homeownertips

Transcript

00:00real estate tip of the day unless you are planning on living in that freaking house

00:04for the next 15 years please for the love of god do not put solar panels on them i have

00:12had one

00:13client one seller after another want to sell their home after just putting on those solar panels in

00:20the last one to three four years and it completely ate up their equity if it's only been a year

00:27or

00:27two or three they are not even able to sell at all because they don't have 30 50 000 of

00:35equity to

00:35pay those solar panels off because they have to be paid at closing so for the love of god now

00:41if

00:41you're planning on living there forever cool i think i've heard that you know it takes up the

00:46same price as your electric bill so it makes sense whatever great if you're planning on staying there

00:50but if you are not please don't let anybody tell you to put those solar panels on your house because

00:55you'll have no equity and you won't be able to sell at all i personally have not had a good

01:02outcome with solar panels and that's the reason i'm sharing this um some people may have a good

01:09experience that's great share it like comment let me know how yours turned out but my reason for doing

01:16this is my experience has not been good and i haven't went rounds with this solar company

01:24five days y'all five days after signing and installation we try to call we called and said

01:32listen we just don't feel good about it we don't feel good about the payments that we're going to

01:36have to make we don't want to do this and this was just the installation plan with the solar company

01:44we were told we're sorry we have a three day buyer's remorse in the contract

01:54our bad we didn't read it word for word we didn't is the ucc1 lien in the contract absolutely

02:02is everything i'm now learning about in the contract yeah it is i should have read the damn contract

02:10contract but we didn't and we're in this situation a situation that is literally causing us a financial

02:19burden but here's my problem when you come up to me and say this is going to buy you financial

02:26freedom

02:27from an electric bill this is going to give you a tax incentive of 30 percent

02:37did it over the last two years of filing taxes not a full 30 percent but i'll i'll give them

02:43a little

02:43bit of that but i'm still front loaded with a loan that was only supposed to be a hundred thousand

02:53dollars

02:58i feel scammed and i recommend you never getting solar panels it's not worth it i just keep thinking

03:08back i could be on a average billing with my electric company and paying way less let me tell you

03:18what i

03:18i pay i pay 700 i think it's about 57 a month just for the solar panels that doesn't include

03:27the electric

03:28that's still running me almost 300 y'all add that up that is a grand a month for electric who

03:35pays a

03:36grant a month for their electric bill i do

03:45yeah lots of folks are out here um feeling like they have been scammed by the solar panel companies

03:52and um i think it's because a lot of these folks are great salesmen right they don't really um they

03:59they well i'm sure they they cover all of the basics and give you all of the numbers but they

04:04make it sound

04:04in a way that it's going to be beneficial for you but for a lot of folks it's not beneficial

04:09at all

04:10it's actually it actually has them drowning now let's continue i was trying to take a nap but i can't

04:18even sleep right now because what's on my mind is i need y'all to stop please stop for the

04:29love of god

04:30putting solar panels on your house please stop that shit it's not cute

04:38it makes your house look ugly it doesn't save you any real money you you want to believe that

04:44because you need to justify the fact that you let a 19 year old with no real job come knock

04:52on your door

04:53and sell you a shiny objects and get you into a 20 year lease

05:00for something that makes your house virtually unmarketable

05:07you're getting a bill for your electric still

05:11and you're getting a bill for the solar panels so you added a bill you didn't take away a bill

05:16which is supposed to be the point and as a real estate agent

05:23whenever i bring people to your house and it has a solar panel on it they want to leave

05:30as a real estate agent now people don't even want to see houses with solar panels on them

05:37as a real estate agent i've taken people to homes that they loved and wanted to put an offer on

05:43but would

05:44not because of the solar panels

05:49a 20 year lease and y'all put this on your house and then you put it on the market

05:55two years later

05:57four years later five years later so that the new buyer now has to

06:03take on a 15 year lease or however many umpteen years are left

06:12and they don't want to

06:15they don't want to take that on

06:17and and nobody's going to buy it out you don't want to buy it out

06:20because you don't want to pay the 40 000 balance or however much is on it

06:24because you don't want that to come out of your

06:25your your net proceeds

06:27they shouldn't be the one doing it

06:29so these these ugly panels are stuck on this house

06:32with a lease that must convey unless you buy it out

06:35and we just talked about that it makes your house virtually unmarketable

06:40stop doing it

06:43i hope this helps someone

06:45i'm sorry but i don't know why this is not illegal

06:48i've just heard so much horror stories about solar panels

06:52like every time someone comes knocking on my door

06:55um yes hi are you the nope i'm a renter i'm sorry

06:59homeowner is nowhere to be found

07:01i'm a renter it's not my house

07:03because i just can't

07:05like all of the stories that i've heard

07:07like i have a neighbor

07:09she bought her house

07:10she moved from michigan

07:11she bought a house here in florida

07:13and

07:15she's paying five hundred dollars a month for the solar panels

07:21and she's still paying like three hundred dollars a month to duke energy

07:26how does that make sense

07:28she says she's she can't pay off the loan early

07:31because they prohibit her from paying off the loan early

07:35because all of the the interest

07:38is front loaded so you have to pay up the interest first

07:41and i'm like

07:43what's the benefit here

07:45if you're still paying duke energy

07:49if you're still paying your electricity bill

07:51why do you still have

07:55like it just doesn't

07:57like it's just not making sense to me

07:59why would i want solar panels

08:02the whole goal

08:03the whole point from the one guy i i

08:07let present to me

08:09was that you would eliminate your electricity bill

08:14right

08:15that you wouldn't need it

08:21why would i want to pay

08:22eight hundred dollars a month for electricity

08:25when i could just

08:26just pay my three hundred dollars

08:28to duke energy

08:30i don't

08:30i just don't understand

08:32why

08:33what's the advantage

08:34what's the incentive

08:36if any one of you guys have solar

08:38that have benefited

08:39from that

08:41let me know

08:41but

08:42all the neighbors

08:43that have gotten scammed

08:45i'm sorry

08:45a lot of my neighbors

08:46that have gotten scammed

08:47they're like no

08:48i would never recommend

08:50i wouldn't recommend it

08:51because they're paying

08:54it's like they're paying twice

08:55for electricity

08:57it just doesn't make any sense

08:59i'm sorry

09:01yeah

09:02no

09:04yeah

09:04i mean

09:05she's 100% correct

09:06you know

09:07when you really think about it

09:08you're paying twice

09:09for

09:11electricity

09:12and instead of eliminating the bill

09:14you're actually adding one

09:16to the stats

09:17right

09:18because not only do you have to pay

09:19for the actual solar panels themselves

09:22but you still have your electrical bill

09:24and oftentimes these panels are

09:26you know

09:2720

09:2740

09:2850

09:29as you heard there

09:30i mean

09:30they can

09:31they can get up pretty high

09:32uh

09:33for some of these folks

09:34and by the time you end up paying it off

09:36the solar panels probably need repair

09:38your roof probably needs some repair

09:41you know

09:42because of

09:42because of whatever they use

09:43to to get them on there

09:45to make sure that there's no leaks

09:46and whatnot

09:46that probably needs some repairs

09:48the solar panels you have

09:49are 20 years old

09:51so they're

09:52they're basically obsolete

09:53you know

09:54they have some newer solar panels

09:55that work even better

09:56than the ones that you have

09:57yours probably don't work very well anymore

09:59and now you just got done paying them off

10:01but

10:01you know what i mean

10:02so it's

10:04sounding like it's really not even worth it at all

10:06but

10:07let's carry on

10:10how big

10:11is my solar panel system

10:14so we have 36 panels

10:16it is a standalone unit

10:18it is right there behind me

10:19now

10:20this hundred thousand dollars i'm talking about

10:22which it was a little over that

10:23um

10:24includes

10:25my panels

10:26that standalone system

10:28and

10:28um

10:29an hvac system

10:31that they sold

10:32us on

10:33also

10:34so

10:35yeah

10:36i mean

10:37it's a

10:38it's a big unit

10:39it's supposed to cover

10:40they said 97 to 100 percent

10:42of our electric usage

10:44based on the

10:45um

10:45year of electric bills

10:46we provided them

10:47and like i said

10:49my smallest bill

10:50has been

10:51um

10:52two hundred dollars

10:53um

10:54so i mean

10:55still you're looking at

10:56nine hundred dollars a month

10:57in electricity

10:57it's just

10:58not feasible

10:59um

11:02so

11:02yep

11:03there it is

11:05don't do it

11:08do not

11:09get solar

11:10learn from my mistakes

11:12solar panels

11:13may seem like a good gift

11:14but they're like a trojan horse

11:16like they're literally

11:17gonna turn around

11:18and bite you in the bottom

11:19somehow

11:21basically

11:22solar panels

11:23seem like a really good deal

11:25because

11:25of the way they try to spin it

11:27but

11:27really you're getting into

11:29massive debt

11:30and you have to remember this

11:31like

11:31forget about the monthly payments

11:33that are always going to be less

11:36than your electric bill

11:36because that's literally how it's designed

11:38that's kind of like the scam part of it

11:40they can always crunch those numbers

11:42to make it less than your electric bill

11:44but

11:45what you need to remember is

11:47you're going to be

11:48in that much debt

11:49so if you have a mortgage on your house

11:51and

11:51your solar panels cost you

11:53anywhere between 25 and

11:55seventy thousand dollars

11:57that's a huge

11:58lump of debt

12:00you are going to be in

12:01getting solar

12:02and it's very expensive

12:04my experience with solar

12:06wasn't very good

12:06my husband and I

12:08at the time

12:08we were living in this house

12:09and my husband decided

12:10to get solar

12:11and it took

12:14them an entire year

12:15they hooked up the solar

12:16panels on the roof

12:18pretty quickly

12:19but

12:20I think it was an entire year

12:22before

12:23the permit

12:24and everything went through

12:25for the solars

12:26to be connected

12:27to Duke Energy

12:28and guess what

12:29during that entire time

12:32we had to pay

12:34our electric bill

12:36plus the monthly payment

12:37for the solar panel

12:38so

12:39you need to remember

12:40that you're always

12:41going to be responsible

12:42for those solar panel

12:44payments

12:45despite

12:46if something isn't working

12:47if something isn't correct

12:48every month

12:49you have to pay

12:51those payments

12:53another

12:54really big red flag

12:55with solar panels

12:56for me

12:56was within one year

12:58and this is no joke

12:59within one year

13:00the cost of them

13:01went up

13:02I think

13:03by like $50

13:04okay

13:05so that payment

13:06that we were

13:06originally quoted

13:08went up by $50

13:09so who's to say

13:10how much

13:11it's going to go

13:12in the further years

13:12and

13:13another huge red flag

13:15this was something

13:16that I wasn't able

13:17to foresee

13:18but

13:19when we

13:20we decided to move

13:21so if you ever

13:22decided to move

13:23you think that

13:24that contact's

13:25transferable

13:26I mean the contract

13:27is transferring

13:28to the people

13:30who are going

13:30to buy your house

13:31but not everyone

13:32wants solar panels

13:33and people definitely

13:34don't want to take

13:35on that much debt

13:36and with the

13:37housing market

13:38the way it is

13:39like

13:39a lot of people

13:41don't can't even

13:41afford that debt

13:42so

13:43really unless

13:44you have the money

13:45to pay off

13:46your solar panels

13:48your house

13:49is most likely

13:50not going to sell

13:51or is going to have

13:51a very difficult

13:52time selling

13:53which also

13:54makes solar panels

13:56not worth it

13:57in the long run

13:58I'm not against

13:59solar panels

14:00I like the concept

14:01of them for sure

14:02but really

14:03they're just way

14:04too much money

14:05and it's just a little

14:06too scammish

14:07right now

14:07so like I said

14:08learn from my mistakes

14:11yeah

14:12I mean

14:13it's crazy man

14:14what some of these

14:15folks are being

14:17subjected to

14:18right

14:19these folks

14:20are great salesmen

14:21these solar companies

14:22have fantastic

14:24salesmen

14:24and they are

14:26selling lots of

14:27solar panels

14:27and do your

14:28research

14:29do your due

14:30diligence

14:30before you go

14:32down this route

14:32because as you

14:33heard there

14:34this whole

14:36green

14:37solar panel

14:38stuff

14:39is one big

14:40scam

14:41one big

14:42scam

14:43but let me know

14:43your experience

14:44with solar panels

14:45if you have them

14:46or if you know

14:46someone that has them

14:47a neighbor

14:48a family member

14:49let us all know

14:51stay safe out there

14:51peace and love

14:53I'm out

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