Do you have solar panels and was it worth the investment?

[Cre8ive]

I watched a program on Solar City and it sure seems like the new technology makes it a good investment.

 

[America 1st]

I equate solar panels with soy lattes, white guilt, and Bitcoin.

 

[ChicagoFats]

I watched a program on Solar City and it sure seems like the new technology makes it a good investment.

So do the math and figure out your rate of return. When I did the math etc I estimated my rate of return around 6 or 7%.
It wasnt quite good enough to go through the hassle for me.

obviously different depending on where you live and what kind of subsidies there are etc

 

[hmt5000]

I watched a program on Solar City and it sure seems like the new technology makes it a good investment.

Not yet. Its getting close but its still a financial loser. If you just want a backup, then yea, go for it. I know a dude that just put in a fancy system thinking he'd be selling tons back to the electric co and in Aug in KY he is still paying an electric bill.

It's wayyy better than just a few years ago though... Hard to say. I'm debating doing a small solar set up now and then going big in about 3 years. The tech seems to be improving that fast though.

 

[4n6tox]

I would be interested but the salesmen and sales infrastructure feels so scammy. Door to door soliciting, hard sells, and suspect math.

If I had enough space or land I might consider a few, but I don't love the idea of them on my roof.

 

[imprimis]

I haven't seen where the numbers work to the homeowner's advantage and savings.

Haven't heard any company offer to put them on my roof and the payment they receive would be the amount of my savings. I. E., Current bill $100. After installation $50. Solar company gets $50.

 

[Jtrain80]

So do the math and figure out your rate of return. When I did the math etc I estimated my rate of return around 6 or 7%.
It wasnt quite good enough to go through the hassle for me.

obviously different depending on where you live and what kind of subsidies there are etc

I had a alternative energy class for my mechanical engineering degree. The final project was to build a system that accounted for 20% of the electricity usage for the structure we lived in. We had to find panels, costs, etc at a 8% tvom at a 20 yr break over.

Couldn't really use your buddy, since the lat and longitude, Sq footage, roof pitch, etc were all different. When we went to turn the project in, everyone was asking whose worked? No ones. The warranty ran out out before it paid for itself. Professor knew this before hand.

It is good for places where electricity is not readily available. I see little solar panels in the oil at remote locations all the time. Ha!

 

[imprimis]

The only ones who make money on them are the manufacturers, sellers, installers and finance companies. For the homeowner, it costs them---plenty.

 

[TopHook]

Dad got one. He went from about a $600 bill to $200 I believe. He also gets some credits or something like that. It doesn't make sense for every one.