Solar Panels - Yay or Nay

Could they be anything in between?

If you're paying full price, it's a scam.

Depends why you want them

If you're worried about losing power you're far better off with a backup natural gas generator or something

If you're worried about losing power and are mostly off the grid or far from civilization then i can understand the appeal

I've seen some illustrations where they are using solar panels for patio covers. That may make sense, but not on your roof.

I had a neighbor who built his own setup. He bought the panels, the rest (battery setup, storage, etc.) he put together himself. He saved a hell of a lot of money, and was legitimately off the grid as far as electricity was concerned.

He also had an outdoor incinerator with a heat pump for Winter, and the best well water within 50 miles.

He let his wife talk him into selling the place and moving to "town".

Not a bright idea

We bought a house that had them installed previously and our electric bill is less than $100 a month. Our neighbors are always over $300. I was not a believer before but I can't deny the savings on my bill.

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Solar Panels - Yay or Nay

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it all depends on your individual situation.

1) How long you plan to stay n the house
2) age of roof. if older roof, you have higher chance to need to pull off the panels to replace room (this will add to the payback time)
3) gas/electric house? all electric?
4) trees around the house that have potential to block light exposure.
5) trees/dirt feilds/construction that could add to dust/pollen that coats the panels reducing exposure
6) hours of sun per day
7) quality of panels. most panel effeciency will drop between 0.5 % and 3% per year. at 0.5% loss in 20 years they will produce at max 90% of original output.
8) are you getting a tax break? yes. then years of payback will decrease, no the full term payback

say you buy a 6kW system for $20,000 (no tax break) and save $150/mo. without factoring in efficiency loos over time, you have an 11+ year payback. (on a 20-25 year lifespan)

a $20k invstment for 11 years at 4% would be worth $30k,......

Massive scam

Doesn’t save you all that much money

You’re on the hook for tens of thousands of dollars

Don’t try selling your home if you still owe money on them. Otherwise you’re gonna have to pay them off, hardy any buyer out there is willing to assume a separate loan on solar

Also, it adds zero value to your home when it comes to selling. No buyer is going to want to pay 10-20k over market value for a home with solar, when they can get one without