[MartyGras]

I'm trying to follow the numbers but $180 per month over 20 years comes to $43,200 which is $19,000 more than the cash price I was quoted for the same system.

There must have been a huge reduction in pricing.

Gary

[hokiepoke]

That's the loan cost on paper if I decide to keep the 30% tax credit next year when I do my taxes. Otherwise I send them the tax credit next year and the loan is reset to the balance-credit next spring. There's been some incentives of $2k applied for installing the system early. The final cost to me will be around $28k + interest once all is said and done.

[mpafr012]

Originally Posted by CapnTrips

I don't know much about how power from panels is stored, but it seems to me that a big plus for panels would be the ability to have some power in the aftermath of a hurricane and resulting power loss. A gas powered generator would likely cost well over $10K, and uses gas. A portable gasoline generator can be purchased and connected to the house wiring for $1-2K, but its not full power and you have to store many gallons of gasoline to get thru several days without power.

Storage is via batteries. Remember solar cells do not produce electricity without bright light (the sun). Power is also reduced when the sun is behind clouds.

[kyle19125]

Originally Posted by MartyGras

I'm trying to follow the numbers but $180 per month over 20 years comes to $43,200 which is $19,000 more than the cash price I was quoted for the same system.

There must have been a huge reduction in pricing.

Gary

New technology always starts out expensive and as manufacturing/reproduction increases prices always come down considerably. Give it a few more years and it'll be much more accessible to most despite the special interest group (electric companies, etc) unless elected state officials attempt to squash it further via regulations as a result of greased palms from said companies.

[MartyGras]

my latest quote is for
11.56kw @ $2.30w = $26,588
Less tax credit. $ 7,976
Total cost. $18,612

I spoke with a couple of Real estate appraisers and they both said that a house with solar appraise higher by a value of per $3.00 pet watt 11,560 x $3.00 =$34,680 increase in vhome value.

For arguments sake I you only assume that the value of the house will increase by the cost of the system installed $18,612

Since the cost of the installation equals the increase in value in the property the actual cost is zero.

So now that brings us to the return on investment.

Based on numbers that were shared with me by hokiepoke I can expect to produce 1.7 kWh of electricity per month add a value of $200 per month or $2400 per year giving me a 13% return on investment beginning the day they turn the system on.

Gary

[expatCA]

Originally Posted by MartyGras

my latest quote is for
11.56kw @ $2.30w = $26,588
Less tax credit. $ 7,976
Total cost. $18,612

I spoke with a couple of Real estate appraisers and they both said that a house with solar appraise higher by a value of per $3.00 pet watt 11,560 x $3.00 =$34,680 increase in vhome value.

For arguments sake I you only assume that the value of the house will increase by the cost of the system installed $18,612

Since the cost of the installation equals the increase in value in the property the actual cost is zero.

So now that brings us to the return on investment.

Based on numbers that were shared with me by hokiepoke I can expect to produce 1.7 kWh of electricity per month add a value of $200 per month or $2400 per year giving me a 13% return on investment beginning the day they turn the system on.

Gary

Does your municipality or County have a program where excess electricity from your panels flows to the grid and you are paid (a very small amount) by the local electric company?

[MartyGras]

Originally Posted by expatCA

Does your municipality or County have a program where excess electricity from your panels flows to the grid and you are paid (a very small amount) by the local electric company?

Yes.....the way it works it your meter runs backwards and those kilowatts end up going into a bank of sorts.

At the end of the month you take the kilowatts you used from the Electric company and deduct amount of kilowatts you sent to the electric utility and you only pay for the difference. If you produced more than you used your bill is zero and the balance remains in your bank account.

[expatCA]

Originally Posted by MartyGras

Yes.....the way it works it your meter runs backwards and those kilowatts end up going into a bank of sorts.

At the end of the month you take the kilowatts you used from the Electric company and deduct amount of kilowatts you sent to the electric utility and you only pay for the difference. If you produced more than you used your bill is zero and the balance remains in your bank account.

That always helps.

[MartyGras]

Originally Posted by expatCA

That always helps.

During the day you're producing excess energy at night you are taking energy from the utility.

It's a balancing act.

[MyITGuy]

Originally Posted by MartyGras

During the day you're producing excess energy at night you are taking energy from the utility.

It's a balancing act.

Unless you store that excess energy via batteries