Quote:
Originally Posted by ThirdOfFive
I've seen several roofs with solar panels on them; one just lately about a block from here. We've chatted about going that route too.
I'm not the rah-rah type when it comes to lowering global temperatures, carbon footprints, saving the planet, etc. The planet got along fine before I arrived and I suspect that it will get along just fine after I leave. But the money-saving aspect does interest me. Not only that but I suspect it adds to the resale value of the house as well.
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In my opinion, you are misguided on both counts. Solar panels will not save you money because the payback period for the initial system cost is way too long, usually about 15 years or longer. Those who sell solar systems will give you an unrealistic payback calculation that almost never includes the lost investment income value of the initial system cost. They will also give you a 25 to 30 year parts and labor warranty, which no contractor could ever expect to honor. Also, when you sell your house, you will probably get less money for it because most people do not want to buy a house with a solar system because of potential maintenance and roof issues.