I posted earlier that my electric bill did not exceed $200 per month.
I looked up my billing history and it average out to $150 per month totaling $1800 annually.
I went onto Google and annual cost of maintenance for the panel is $300, that covers cleaning and inspection.
Now deduct the $300 from my $1,800 annual bill, leaves us with $1,500 in savings. That of course if the panels supply my total need of energy.
I also looked up on Google cost of installing solar panels in Fl. The average cost range for installing solar panels for a 2,000 sq. ft. home is between $15,000 and $40,000.
If I went with the lowball figure it would take me 10 years before I realized any saving and over 26 years with the higher figure.
Let’s take the $40,000 figure, if I invest this in a safe stock that only pays 4% dividend my return would be $1,800, that matching my annual electric bill.
I love the solar idea, but for me this doesn’t make sense.
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