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dpdoor (28.80)

Hey Pres. Obama, Banks won't lend for Solar ha ha.

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May 11, 2010 – Comments (10)

I sell solar electrical systems, the biggest problem is getting financing for myself and my customers. We you say "Solar" you might as well forget it. They do not see the $100 per pound mono-crystalline solar panels as collateral. Even though they last up to 50 years and produce and income for the owner. We could sell three times more photovoltaic systems if the banks could see value in them. So, President Obama, I was very exited that you are dedicated to renewable energy but too bad the banks you gave our money to are laughing at you.

10 Comments – Post Your Own

#1) On May 11, 2010 at 4:09 PM, brickcityman (< 20) wrote:

I'm not suprised... Why invest money on something unsexy like lending it for capital intensive projects which have long and steady returns when you can instead throw money into building computers that can make millions in trading revenue each and every day?

 

Out of curiosity (and minor vested interest)... I would be really interested in your assessment of the various solar products on the market.  Do you find any marked quality or marketability difference between products from the various public solar companies?  Do you find it any easier to find financing for, install, and if applicable insure, products from one company vs. another?

 

 

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#2) On May 11, 2010 at 4:15 PM, chk999 (99.97) wrote:

Yeah, what brickcityman said. What producers make good stuff and what make crapola?

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#3) On May 11, 2010 at 4:23 PM, dpdoor (28.80) wrote:

I like Suntech Power Inc. From 
Egale Roofing or me DPDoor .com They are the largest and they have the solar panels that look like roof tiles. They don’t blow off in the wind and they look cool.

 Financing is done on any collateral, cars, real-estate but not any solar. I was told I could build a multi unit apartment building and they would give me what ever I need but cant get a dime for solar. I have to use my rela-estate to back my solar business even though we have 800 credit score, nice profit each year and 30 years in business and good money in the bank.

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#4) On May 11, 2010 at 4:31 PM, dpdoor (28.80) wrote:

Whoops that’s EAGLE Roofing. It's what the track home guys are using since they are easy to install, indestructible and look really good.

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#5) On May 11, 2010 at 4:35 PM, ralphmachio (24.77) wrote:

Are there any improvements in design on the horizon? Efficiency? Bang for buck?

What do you think of small scale solar thermal generators? 

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#6) On May 11, 2010 at 5:07 PM, JaysRage (89.06) wrote:

Banks don't lend money any more.   They just borrow it from the government for free and turn around and buy government bonds. 

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#7) On May 11, 2010 at 5:45 PM, dpdoor (28.80) wrote:

Right now it is 7 years and the money saved pays for the system, plus you have a valuable system, so in a way you doubled your investment it 7 years. In just the money saved it is a 14% annual return on investment. How’s that compared to other investments? oh and by the way the return gets better as the rates go up, plus it returns for up to 50 years. Also you always know were it is; you can see it on your roof.

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#8) On May 11, 2010 at 6:02 PM, dpdoor (28.80) wrote:

The solar panel wears out a little faster then piece of glass. It is made of silicon and has nothing to wear out. Some last 25 years (thin film) and some last up to 50 (mono-crystalline), The poly-crystalline is some were in-between. The inverter burns out in 8 to 10 years but is in your garage and easy to change out. The panels slowly come down in price and the inverter is like computers, it gets better and cheaper every year.

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#9) On May 11, 2010 at 6:11 PM, topsecret09 (36.35) wrote:

 The reason that the banks won't lend to "American" solar companies Is because they cannot compete with the Chinese solar companies. First Solar Is the only U.S company that has the economies of scale to compete. As an Investor you have to look at the Chinese companies right now. I do not see this particular situation changing In the near future....   TS

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#10) On May 11, 2010 at 6:28 PM, dpdoor (28.80) wrote:

I have done years of studying solar and wind energy, I don’t know about thermal, Wind is cool and all but the most efficient ones are 500 ft tall and are in wind farms. Solar can be one inch or an acre and the efficiency is the same. Solar works and has a fast pay back; it has no moving parts or liquids, no maintenance except the inverter which is scheduled. I can install it and not worry about problems later thus maintaining my companies good reputation.

 

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