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Started By
Message
Solar Panels on a house
Posted on 7/14/20 at 6:33 am
Posted on 7/14/20 at 6:33 am
Wife is in real estate and has a buyer looking at a house in Sugar Land in a community called Greatwood. 2 story home, pool etc. Homeowners listed solar panels installed in 2018 as part of their "upgrades" at a cost of $32,000. Buyer started asking questions about solar panels. Long story short, the average kw hour reduction at current rates has resulted in an average savings per month of $128 since installation.
At current electrical rates it will take almost 21 years to recoup the $32,000 investment in solar panels wihout a single repair. The homeowner has a 25 year warranty on the solar panels but when you read the warranty it only guarantees 80% solar production after 10 years as panels degrade and output decreases. Evidently all solar panels have a similar warranty. If you start adding in the reduction at 80% the payback runs out quickly to around 30 years if held at 80% output from year 10-year 30. If it drops below 80% start adding more years.
What would $32,000 be worth if you simply stuck it in the stock market for 20-30 years? $80K-$100K?? This solar stuff is pretty damn expensive. Seems idiotic once you start seeing the actual numbers.
At current electrical rates it will take almost 21 years to recoup the $32,000 investment in solar panels wihout a single repair. The homeowner has a 25 year warranty on the solar panels but when you read the warranty it only guarantees 80% solar production after 10 years as panels degrade and output decreases. Evidently all solar panels have a similar warranty. If you start adding in the reduction at 80% the payback runs out quickly to around 30 years if held at 80% output from year 10-year 30. If it drops below 80% start adding more years.
What would $32,000 be worth if you simply stuck it in the stock market for 20-30 years? $80K-$100K?? This solar stuff is pretty damn expensive. Seems idiotic once you start seeing the actual numbers.
29
Posted on 7/14/20 at 6:37 am to Tridentds
My big concern is tech advances obsoleting a current day install. Like much more efficient panels etc.
Posted on 7/14/20 at 6:40 am to TigerGman
Plus, if installed on the front of your roof, you are advertising that you drink soy milk and your wife is your boss.
Posted on 7/14/20 at 6:43 am to Tridentds
quote:
Seems idiotic once you start seeing the actual numbers.
The government under Obama was offering great incentives. For a $25k system, the Fed was giving back $7500. At that time Louisiana was giving back $12.5k. So, for a $25k system, you only paid $5k. My system paid for itself this January.
Without the government chipping in, it would not be worth it.
Posted on 7/14/20 at 6:43 am to Tridentds
quote:
Seems idiotic once you start seeing the actual numbers.
There is your answer.
Posted on 7/14/20 at 6:45 am to Tridentds
quote:
Homeowners listed solar panels installed in 2018 as part of their "upgrades" at a cost of $32,000.
They likely took advantage of a 30% ITC the year the unit was installed.
Posted on 7/14/20 at 6:49 am to CoachChappy
quote:
The government under Obama was offering great incentives. For a $25k system, the Fed was giving back $7500. At that time Louisiana was giving back $12.5k
This
Government heavily subsidized it under Obama.
This post was edited on 7/14/20 at 6:49 am
Posted on 7/14/20 at 6:55 am to Tridentds
Solar panels look trashy on a house
Posted on 7/14/20 at 7:01 am to Hulkklogan
quote:
This
Government heavily subsidized it under Obama.
I got more money from Louisiana under Jindal. Either way, it worked out great for us. We’ve passed the break even point, so all savings are mine.
I do think that solar is the future of residential energy. The technology just isn’t there yet. Tesla has some cool ideas with the roof shingles panels. It would also be able to charge your Tesla car. Neat ideas, just not feasible yet
Posted on 7/14/20 at 7:03 am to Tridentds
You must understand that green energy is a religion of sorts to these people. It’s a way to make them feel good...lessening their “carbon footprint “. Your calculations will not matter to that mindset. They are fully willing to accept losses if they think they are helping the environment. They also probably took advantage of tax credits for the install. So in a way everyone else helped them pay for it. You didn’t mention power storage so they are probably selling power back to their local power provider. Once you factor power storage that number for the install can increase greatly. If you want to go down another rabbit hole look at replacing these batteries. Another consideration is the roof on that house will have to be changed in 12 to 20 years and all of those solar panels have to come off and be put back on after the new roof is placed on. In the end if you want to save money use a portion of the cash that you would use on solar and build a house that is super energy efficient. Solar power has its place in remote off grid situations. I just don’t see advantages in a neighborhood situation where homes are packed together.
Posted on 7/14/20 at 7:03 am to Tridentds
quote:
This solar stuff is pretty damn expensive. Seems idiotic once you start seeing the actual numbers.
It is damn expensive for everywhere except Arizona/cloudless, sunlit open space
Posted on 7/14/20 at 7:04 am to Tridentds
I've wondered how solar panels affect roof maintenance or replacement, seems to be a complicating factor.
I'm holding out for whole house fuel cell technology.
I'm holding out for whole house fuel cell technology.
Posted on 7/14/20 at 7:05 am to CoachChappy
quote:
Without the government chipping in, it would not be worth it.
This too. American and state taxpayers were subsidizing it. I know technology has gotten better, but it is still really expensive. Especially small scale operations like this one.
Posted on 7/14/20 at 7:07 am to Mr Breeze
quote:
I've wondered how solar panels affect roof maintenance or replacement, seems to be a complicating factor.
Before you put on panels. If your roof is within a few years of needing replacement, they advise you to do it! They can come out and remove rails and panels if you need to change the roof. That part is a pain.
My system should crawling out when the roof needs a change which is all about the time when I’m ready to move out of here.
Posted on 7/14/20 at 7:08 am to Oilfieldbiology
quote:
American and state taxpayers were subsidizing it.
Which is why I jumped on it. Anytime, I a tax payer, can get a break, I’m taking it! It’s my damn money. It’s better than it going to welfare, etc
Posted on 7/14/20 at 7:10 am to FlatTownDawgTiger
quote:The ultimate virtue signal.
Plus, if installed on the front of your roof, you are advertising that you drink soy milk and your wife is your boss.
Posted on 7/14/20 at 7:13 am to Tridentds
Was the $32K retail or after the tax incentive? I don’t know about right now but often there are federal tax programs to make solar more attractive.
I didn’t go solar but put geo-thermal in a house I built because the fed tax program at the time narrowed the total cost to within $11K of a traditional HVAC system. The geothermal made up the $11 K delta in a little over 3 years. The system was a 20 year system and was way more efficient on both heating and cooling and kept the house a constant temp. No cooling or heating to the morning desired temp then doing the opposite until it kicked on again.
I really liked that system.
I didn’t go solar but put geo-thermal in a house I built because the fed tax program at the time narrowed the total cost to within $11K of a traditional HVAC system. The geothermal made up the $11 K delta in a little over 3 years. The system was a 20 year system and was way more efficient on both heating and cooling and kept the house a constant temp. No cooling or heating to the morning desired temp then doing the opposite until it kicked on again.
I really liked that system.
Posted on 7/14/20 at 7:15 am to Tridentds
quote:
average savings per month of $128 since installation.
Doubtful
Posted on 7/14/20 at 7:17 am to CoachChappy
I love the solar shingles idea. I wanted to replace our roof with them but came to the same conclusion. For starters, there are no installers for them in our area and I wasn't convinced the savings would be there yet.
Posted on 7/14/20 at 7:21 am to Tridentds
You would also have to take into consideration any increases in energy costs.
Not saying it is worth it, just pointing that fact out.
A lot of these systems also come with battery backups that get charged by the panels so you could also look at a portion of your spending as a whole home backup power for storms.
Not saying it is worth it, just pointing that fact out.
A lot of these systems also come with battery backups that get charged by the panels so you could also look at a portion of your spending as a whole home backup power for storms.
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