are solar panels worthwhile? (Somerset: homes, buy, theater)

[ansky]

The thing about solar panels is that I have never heard actual numbers as far as how much a person really saves by installing the panels. The average electric bill for my 3BR house is about $75/month, so I can hardly see it being worthwhile to go through all the hassle of putting up panels. If I'm paying $75/month now and I put up panels, what does my monthly bill become? $50/month, $30/month?

FWIW, I think they look ridiculous and would not buy a house that has them. If we lived in Arizona maybe I would feel differently.

[berniekosar19]

Originally Posted by ansky

The thing about solar panels is that I have never heard actual numbers as far as how much a person really saves by installing the panels. The average electric bill for my 3BR house is about $75/month, so I can hardly see it being worthwhile to go through all the hassle of putting up panels. If I'm paying $75/month now and I put up panels, what does my monthly bill become? $50/month, $30/month?

FWIW, I think they look ridiculous and would not buy a house that has them. If we lived in Arizona maybe I would feel differently.

My Father-in-law has solar on his roof in Spring Lake. It's completely unobtrusive as they're placed on the back of the house, where it's south-facing. The initial outlay was very expensive and I think he's set to recoup the cost of installation in about 7 years or so. His electric bill is nothing, however; his average bill has been about $1.50-2, consistently. He also makes a little extra scratch sometimes by generating so much excess power he is able to sell back to the electric company. Not for everyone, but the savings for his electric bill has been plenty substantial, as he runs a ton of stuff now: a/c, pool equipment, the lights are always on, etc etc.

[bradykp]

Originally Posted by sonofagunk

any quotes you get already have that figured in (but sometimes they do not tell you that so your calcs have it in there 2 times).

Personally, I think they make a house look ugly and would never buy a house with them on top

If the payback was really 4 years, then just make the following offer to any solar company:

install for free, and for 5 years, I will pay you the same amount I would have paid the electric company, and then after that we are even

you will get ZERO companies to agree to this. If the payoff was really 4 years, then you are offering to pay them 25% more then they are asking, but for some reason, they would not accept this deal

there are companies who install the panels for free, but because of credit risks, they would not agree to a 5 year term like that. most are 10 year terms, and most would prefer to do the expected life of the panels. don't forget, you don't just save the rate for the electricity, you save the distribution also. with PSEG, that runs around 35 cents kwh, no?

[ansky]

Here's another question. What happens if something goes wrong with the panels, like malfunction or damage from a storm? Is the installation company going to make repairs, and at what cost?

And what about winters like we just had, where there might be snow covering the panels for weeks? Do people go up on the roof and clear them off?

[bradykp]

Originally Posted by ansky

Here's another question. What happens if something goes wrong with the panels, like malfunction or damage from a storm? Is the installation company going to make repairs, and at what cost?

And what about winters like we just had, where there might be snow covering the panels for weeks? Do people go up on the roof and clear them off?

the homes in west orange that have panels that i know of - the snow didn't really stay on them. as for damage - that's a big "depends". if it's a lease, then maintenance and repairs are covered at no cost to the owner. if you own them - it's just like anything else with your house - you have to call the appropriate person to repair.

[sonofagunk]

Seems like a bunch of these installation companies are going out of business, so I wouldn't count too much on any warranty

[Informed Info]

Originally Posted by ansky

And what about winters like we just had, where there might be snow covering the panels for weeks? Do people go up on the roof and clear them off?

The snow slides right off (at least on my house) - and all at once.

Lost my old patio table that we left out on the deck two winters ago when the avalanche happened.

[bradykp]

Originally Posted by sonofagunk

Seems like a bunch of these installation companies are going out of business, so I wouldn't count too much on any warranty

which companies have gone out of business? solar installation industry is a fairly healthy industry right now.

but even if what you say is true, it's no different than any other contractor you are hiring. you pick a small nobody and you might get burned.

[Modification Specialist]

My return on the investment 27 months - old bill $240 monthly May 2014 bill $10.92

see my long island post... Solar Energy - Net Metering being charge more for energy used?

[JERSEY MAN]

Count me as one of these people. I wouldn't even look at one UNLESS they were almost giving it away. Anyone that says that this doesn't affect resale value is wrong. I just proved it.