So I received an estimate for solar on my roof, which has a good southern slant.
The panels, if financed, would cost about $200/month and offset my $150/month energy bill. The loan would be for 20 years.
However, I might refinance my home and pay in cash. Is now a good time to make this investment?
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Another thing to factor into budget is if the credits from your solar production can cover the service fee from your power company.
For example I have a ~30usd/mo base/service fee that can’t be covered by solar credits.
Just something to keep in mind. Every utility company is different.
That’s $48K in total, what kind of gold-plated solar panels are those? I installed 8 panels and a battery (to future-proof it, this isn’t bringing in money yet) earlier this year for €8700. Yield currently on a sunny day is 20-25 kWh and covers my bill completely.
Thanks for all your comments guys! I have more info that I’ll grab maybe later tomorrow. I’m just wondering how the market is for solar.
I’m not planning on selling the house any time soon and I’m getting another quote on Thursday.
on the flip side, if you want to go extremely budget
- sourcing panels, inverters, batteries, etc. on your own
- used solar panels do not lose significant efficiency over time, we’re just obsessed with the “newest” *
- DIY, assembling everything on your own
- plan on not hooking up to grid, won’t get any energy kickbacks but less hassle on the wiring side of things
Not sure if you’ll have any advice on this, but I’m helping my neighbor change his front lawn into a native plant garden, and planning to include a little water feature with a pump running off a solar panel. I’ve barely begun researching any of this part (been lugging dirt and cinderblocks from our local Everything is Free page), but I always try for used stuff first. If you have any recommendations I’d love to hear them.
For the pump, maybe you could look into (secondhand) aquarium pumps? They’re meant to be constantly running. Flow rate is fixed though, so you’ll have to decide the size if your pond first.
That’s a good idea!
- sourcing panels, inverters, batteries, etc. on your own
Never think in terms of monthly payments. Think in terms of how much money they’re actually asking you for. That’s how they get you to consider $50k solar panels lmao
I heard you like expensive investments. Might I interest you in a boat?
