Talk of The Villages Florida - No cost solar power coming to tv

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The ad sounds outdated

Many of the solar tax and energy benefits have been rolled back. I’d be careful in my research before committing to anything.

Quote:

Originally Posted by retiredguy123 (Post 1803188)

The cost of $9,000 is very low compared to the average cost in The Villages. A more typical cost would be about $15,000 for a 1200 SF house. Here is how I evaluated the financial benefits of a solar panel system for my house.

Scenario No. 1: I buy a solar panel system for a cash price of $15,000. 20 years later, the system has probably reached its useful life and is worth nothing. In any case, I will still need to replace the roof and need to remove the solar panels, which I doubt will be worth reinstalling 20 year old panels.

Scenario No. 2: I don’t buy a solar panel system and, instead, I invest $15,000 in a diversified stock and bond portfolio and assume an annual total return of 5 percent per year. 20 years later, I have $40,000 in my account.

$40,000 / 20 years = $2,000

$2,000 / 12 months = $166

$166 per month is about two times my current monthly electric bill.

Conclusion: A solar panel system is not worth buying.

You can’t wait 20 years before you pay your bill to get your $166.

If you put your $15,000 into this account @ 5% and starting paying your electric from it (say a $100/month bill) and you pay 10% income tax on the returns then you will have zero left in the account in 18 years.

Quote:

Originally Posted by Blackie (Post 1804450)

Even using your numbers, I have paid for all my electric bills for 18 years. I didn't need to put any money at risk, by buying a $15,000 solar panel system. And, the only way I would break even, would be if the solar panels provided 18 years of free electricity with no maintenance or other costs. After 18 years, I think the solar panel system will be obsolete and worth practically nothing, and will need to be removed to replace the roof. So, where is the financial benefit? In my opinion, it is not a good investment.

Be very careful of any company that tells you the lease or loan has to be taken over by the buyer if you sell your house, i have seen reports where people could NOT sell their house because the potential buyers were not interested in taking over the lease or loan and the solar company WOULD NOT CANCEL IT.

Quote:

Originally Posted by villagetinker (Post 1806831)

Agreed. Why would any solar company agree to cancel a lease? They are making money so why give up the cash stream.

Quote:

Originally Posted by Stu from NYC (Post 1806897)

Agreed. Why would any solar company agree to cancel a lease? They are making money so why give up the cash stream.

Yes, and they have a lien on your house, which makes it difficult to refinance the house, and impossible to sell it unless you or the buyer pays if off.