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re: Getting solar panels today!!
Posted on 5/27/14 at 5:39 pm to Sho Nuff
Posted on 5/27/14 at 5:39 pm to Sho Nuff
In response to almost everyone, you also have to take into account the price of fuel inflation every year.
My solar panel system research/analysis ended up in me making an excel spreadsheet to show me my anticipated savings over X amount of years.
I used 24,000 KWH of electricity total last year, so about 2,000 KWH per month, costing about $0.10 per KWH, so a normal $200.00 per month for energy.
Purchase a $25,000 solar system, that produces an average 7 KWH per hour, for about 4.5 hours a day(based on historical weather data in louisiana) for a total of 31.5 KWH per day produced. Multiply by 30 equals 945 KWH produced in a month, which is basically cutting your energy bill in half. Just with these numbers you'll pay off your $5,000 out of pocket within 50 months, plus or minus a few months.
Now, when you take into count that energy fuel prices rise 3-4% per year, I'll be paying and additional $1,000.00 in 6 years for my current energy consumption, without solar panels.
I can post additional numbers, maybe even the spreadsheet I created when I get back to the office tomorrow for everyone to see the math, and you can input your own numbers.
My solar panel system research/analysis ended up in me making an excel spreadsheet to show me my anticipated savings over X amount of years.
I used 24,000 KWH of electricity total last year, so about 2,000 KWH per month, costing about $0.10 per KWH, so a normal $200.00 per month for energy.
Purchase a $25,000 solar system, that produces an average 7 KWH per hour, for about 4.5 hours a day(based on historical weather data in louisiana) for a total of 31.5 KWH per day produced. Multiply by 30 equals 945 KWH produced in a month, which is basically cutting your energy bill in half. Just with these numbers you'll pay off your $5,000 out of pocket within 50 months, plus or minus a few months.
Now, when you take into count that energy fuel prices rise 3-4% per year, I'll be paying and additional $1,000.00 in 6 years for my current energy consumption, without solar panels.
I can post additional numbers, maybe even the spreadsheet I created when I get back to the office tomorrow for everyone to see the math, and you can input your own numbers.
Posted on 5/27/14 at 6:53 pm to sprime1
quote:
Just with these numbers you'll pay off your $5,000 out of pocket within 50 months, plus or minus a few months.
Sounds about right. What a terrible idea to have solar panels paid off in 4 years and they should last you at least another 25-30.
quote:
Now, when you take into count that energy fuel prices rise 3-4% per year, I'll be paying and additional $1,000.00 in 6 years for my current energy consumption, without solar panels.
Are you saying this in favor or against solar? To me, this makes the decision that much easier. The $100/month those panels saves you today will save you $200/month in 10 years or so when you look at inflation.
Also, you can get bigger than a $25k system. It's just that LA caps the state tax incentives at $25k if I'm not mistaken. The Federal 30% credit goes for however much the system costs. SO you could completely wipe away your bill if you wanted. The ROI would take longer w/o the state tax on the amount over $25k, but as you have illustrated with inflation, you're saving yourself a lot more money as time goes by.
It's why I can't believe everyone that owns a home in LA didn't run out to buy solar panels. Last year 80% of the cost of the system was covered. This year, it's 68%. I wouldn't wait any longer.
Here in Hawaii, they are going to be lowering the state pretty soon. But our rates avg $0.37 or so per kWh and so it's the biggest no-brainer possible here. Lots of sun, high electric rates, and great tax incentives right now.
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