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Old 07-14-2015, 12:35 PM
 
Location: Henderson
1,077 posts, read 1,391,361 times
Reputation: 702

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Not much incentive to go solar when electricity is costing me just over 6 cents a kilowatt hour. No warranty concerns, no roof concerns, no real estate sales concerns.
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Old 07-14-2015, 01:00 PM
 
Location: Sunrise
10,868 posts, read 14,269,507 times
Reputation: 9017
I'm in the same boat. I spend so little on electricity it doesn't make any sense to install a solar system. But not everyone is like me...
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Old 07-14-2015, 04:51 PM
 
Location: Vegas, baby, Vegas!
3,977 posts, read 6,566,104 times
Reputation: 3707
Quote:
Originally Posted by ScoopLV View Post
I'm in the same boat. I spend so little on electricity it doesn't make any sense to install a solar system. But not everyone is like me...

THANK GOD



Jonathan
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Old 07-14-2015, 04:58 PM
 
Location: Here and there, you decide.
12,077 posts, read 23,581,868 times
Reputation: 4235
Quote:
Originally Posted by ScoopLV View Post
It's smart for the same reason paying off a mortgage is a smart investment -- it's a known, GUARANTEED return. We all know what we spend on electricity each month. Making that go away is a great investment because those numbers aren't ever going to go down. And it frees up capital for other uses.
What are the odds that you are even in the same house in 10 15 years?
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Old 07-14-2015, 05:00 PM
 
Location: Here and there, you decide.
12,077 posts, read 23,581,868 times
Reputation: 4235
Quote:
Originally Posted by yellowsnow View Post
ROI is important but there is another factor. Being cool without living in fear of the electric bill! Peace of mind is worth a lot! Macgeek is smart I'm sure he will do great with his solar.
Fear of electric bill? What about the 40 grand for the panels?
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Old 07-14-2015, 06:16 PM
 
Location: Vegas, baby, Vegas!
3,977 posts, read 6,566,104 times
Reputation: 3707
Quote:
Originally Posted by airics View Post
Fear of electric bill? What about the 40 grand for the panels?
$40K for panels, Minus 12K from Feds, Minus 3k From NVenergy (MAYBE) = 15K Now $25K

Bill is $266.32 (I averaged my usage for a year and then divided it by 12)
a month times 12 = $3195.00 a Year
Times 10 years = $32,000

Jonathan

Last edited by macgeek; 07-14-2015 at 06:37 PM.. Reason: Updating information
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Old 07-14-2015, 07:17 PM
 
Location: Here and there, you decide.
12,077 posts, read 23,581,868 times
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You must have a big fed tax bill to get a 12k credit....for me I average 160 a month so its definitely not worth it. Your house must be huge. Im 3floors 2700sf facing west with a pool
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Old 07-14-2015, 08:14 PM
 
Location: Lancaster, CA / Henderson, NV
1,106 posts, read 1,165,360 times
Reputation: 1029
Default 25 years to recoup?

I switched money management programs back in Nov 2011 so I can't provide the exact details of my electric bills prior to going solar. I can tell you though that June-Sept $600 monthly was about what I was paying. Dec-Mar perhaps $100 or so monthly. Oct/Nov & Apr/May probably in the $250 range.

So $3800/12 = average monthly bills of $316.67.

We turned on our panels in March 11. 5.040KW system. When done paying for it, my out of pocket cost will be $17,500.

Now my electric bills are typically under $2. The exception being my bill in April each year, for March. That bill averages about $125 as that is when I either give back any excess generated to the power company or pay for any excess I used beyond what I generated.

Attached is a screen shot of all my payments (at least all the would fit on the screen) since switching to this money app I use now. At the bottom right though you will see 45 payments to the electric co for a total of $542.11.

So $542.11/45 = average monthly bills of $12.05

From $316/mo to $12/mo??? That is a savings of $304/month. Now if you divide my cost for the solar system of $17,500 by $304 we get a pay back in months of 57.5 months or less than 5 years. WOW! Even I didn't realize I was that close to payback. Just 6 months to go and I am "In the green".
Attached Thumbnails
NVenergy Solar rebates die in 6 weeks-capture.jpg  
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Old 07-15-2015, 11:03 AM
 
Location: Henderson
1,077 posts, read 1,391,361 times
Reputation: 702
Quote:
Originally Posted by C_A_Braun View Post
I switched money management programs back in Nov 2011 so I can't provide the exact details of my electric bills prior to going solar. I can tell you though that June-Sept $600 monthly was about what I was paying. Dec-Mar perhaps $100 or so monthly. Oct/Nov & Apr/May probably in the $250 range.

So $3800/12 = average monthly bills of $316.67.

We turned on our panels in March 11. 5.040KW system. When done paying for it, my out of pocket cost will be $17,500.

Now my electric bills are typically under $2. The exception being my bill in April each year, for March. That bill averages about $125 as that is when I either give back any excess generated to the power company or pay for any excess I used beyond what I generated.

Attached is a screen shot of all my payments (at least all the would fit on the screen) since switching to this money app I use now. At the bottom right though you will see 45 payments to the electric co for a total of $542.11.

So $542.11/45 = average monthly bills of $12.05

From $316/mo to $12/mo??? That is a savings of $304/month. Now if you divide my cost for the solar system of $17,500 by $304 we get a pay back in months of 57.5 months or less than 5 years. WOW! Even I didn't realize I was that close to payback. Just 6 months to go and I am "In the green".
In June I used 2,266 kilowatt hours. How much electricity did your system produce last month?
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Old 07-15-2015, 11:14 AM
 
Location: Sunrise
10,868 posts, read 14,269,507 times
Reputation: 9017
I would lose sleep if I used that much electricity. In the summer, my maximum is around 600kwH.

Surely there are ways to cut consumption? No solar system is going to pay for itself if you're using that much juice. (Granted, on the other end of the electricity spectrum, no system is going to pay for itself for me, either -- because it doesn't make any sense to go solar when I spend $700 per year on electricity.)
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