Quote:
Originally Posted by Blackbird45
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.
|
Don't forget that, if you invest the $40,000 at get a 4 percent dividend, you will always have the $40,000 in principal. But, if you spend it on a solar system, the system will decline in value every year until it is worthless. And, when your roof is 15 years old, you will need to replace the roof and pay the solar contractor several thousands of dollars to remove and re-install the solar panels to install a new roof.