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Started By
Message
Investing in Solar. Just my pen to paper breakdown
Posted on 1/4/16 at 6:27 am
Posted on 1/4/16 at 6:27 am
I know most on here reject the idea of solar for their home but you cant argue with the math.
The average customer will invest 21000 after federal government incentives on a solar system that will power the whole house. The average light bill in this country is $138.50. If you finance the 21000 for 5 years at the current interest rate of 4.5% that would give you a note of roughly $390 a month. After 5 years given the current increase of 3.2% a year on household energy bills you would save $145 a month which would after 20 years at the current interest rate would give you an investment return a $58,000 cash in 20 years. Now that's how you invest.
Show me any mutual fund that can do that.
Note: the 58k is before you factor in your states tax credits which vary state to state.
The average customer will invest 21000 after federal government incentives on a solar system that will power the whole house. The average light bill in this country is $138.50. If you finance the 21000 for 5 years at the current interest rate of 4.5% that would give you a note of roughly $390 a month. After 5 years given the current increase of 3.2% a year on household energy bills you would save $145 a month which would after 20 years at the current interest rate would give you an investment return a $58,000 cash in 20 years. Now that's how you invest.
Show me any mutual fund that can do that.
Note: the 58k is before you factor in your states tax credits which vary state to state.
14
Posted on 1/4/16 at 6:31 am to Placebeaux
How well does it work when you take away other peoples money?
Posted on 1/4/16 at 6:32 am to Placebeaux
Good for you .. I will just stick with Entergy
Posted on 1/4/16 at 6:33 am to Placebeaux
What happens if they need to be repaired? What if the company goes bankrupt? How long does the average family live in a home. My point is it its not as simple as you are making it. These solar companys can't make it without subsidies and if the go under there is no one to do the warrenty work. Plus added cost in installation of a new roof.
Posted on 1/4/16 at 6:34 am to TrueTiger
quote:
How well does it work when you take away other peoples money?
subtract 8k
but the other peoples money thing is weak. Show me a man that doesn't pay for government subsidies and I'll show you a man that doesn't pay his taxes.
Posted on 1/4/16 at 6:35 am to Placebeaux
Your assumptions are that your bill will be $0 every month for 20 years and there will be no maintenance or panel replacements at all?
OK.
Good luck.
OK.
Good luck.
Posted on 1/4/16 at 6:38 am to CajunAlum Tiger Fan
quote:
Your assumptions are that your bill will be $0 every month for 20 years and there will be no maintenance or panel replacements at all?
OK.
Good luck.
quote:
you cant argue with the math.
Have they figured out a way to make the panels covering your roof not look ugly as sin yet?
This post was edited on 1/4/16 at 6:45 am
Posted on 1/4/16 at 6:38 am to Placebeaux
quote:
Show me a man that doesn't pay for government subsidies and I'll show you a man that doesn't pay his taxes.
which is about 47% of the fricking population
Posted on 1/4/16 at 6:38 am to Placebeaux
How about we wait a decade or two and see how solar technology has gotten more efficient and less expensive?
I think it may be driven to this sooner, just needs a push from extreme focus after instability of oil.
I think it may be driven to this sooner, just needs a push from extreme focus after instability of oil.
Posted on 1/4/16 at 6:38 am to CajunAlum Tiger Fan
Besides, the panels output gets less and less over time.
Oh, don't forget that all the gas they are finding now. Powerplants left and right are converting over to gas now. Our bills are going to be lower.
Oh, don't forget that all the gas they are finding now. Powerplants left and right are converting over to gas now. Our bills are going to be lower.
This post was edited on 1/4/16 at 6:41 am
Posted on 1/4/16 at 6:40 am to CajunAlum Tiger Fan
everything has a manufacturers warranty of 25 years. Maintenance consist of hosing off the panels maybe once a year, if that.
Posted on 1/4/16 at 6:42 am to Placebeaux
I paid 5k out of pocket on a 25k system. 20k of it came back in gov't a subsidies. A 25k system covers ~75% of my bill. At currsnt savings, it will pay itself off (my 5k) in 5 years. If I had to pay the whole 25k it would've taken closer to 20 years and IMO not be worth it.
However, I pay taxes and others get subsidies. Why should I not cash in on a subsidy?
However, I pay taxes and others get subsidies. Why should I not cash in on a subsidy?
This post was edited on 1/4/16 at 6:42 am
Posted on 1/4/16 at 6:42 am to CajunAlum Tiger Fan
and yes the energy bill would be 0. net metering is a thing of the past.
Posted on 1/4/16 at 6:42 am to Tigerdogz
quote:
What happens if they need to be repaired?
This^
and when your roof starts leaking
and what about the rising connectivity fees from the utility to offset the lost sales?
They still have to pay for those poles and wires they invested in.
Posted on 1/4/16 at 6:43 am to fishfighter
quote:
Oh, don't forget that all the gas they are finding now. Powerplants left and right are converting over to gas now. Our bills are going to be lower.
Yes my bill has gone down so much with cheaper oil.
Posted on 1/4/16 at 6:45 am to Placebeaux
I just couldn't live with the look of the panels.
Posted on 1/4/16 at 6:46 am to TrueTiger
quote:
and when your roof starts leaking
20 year garuntee and replacement warranty on all parts of the system. If the roof leaks due to the system, they are responsible. Also, if you need to replace the roof due to normal wear and tear, they come and remove the panels and put them back up after the roof is replaced (for a 1K fee)
Posted on 1/4/16 at 6:46 am to Placebeaux
quote:
everything has a manufacturers warranty of 25 years. Maintenance consist of hosing off the panels maybe once a year, if that.
if you believe that. Manufacturers probably won't be around to support you anyway.
Your bill will not be zero.
There are plenty of better investments.
Seriously, though, go for it and keep us updated.
Posted on 1/4/16 at 6:52 am to CajunAlum Tiger Fan
quote:
There are plenty of better investments.
Well, with the Dow looking to drop 300+ points this morning, maybe not.
Posted on 1/4/16 at 6:59 am to fishfighter
I sold my solar panels and bought gold instead.
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