Towards the end of the life of the system, when electricity is 2-3x what it cost 20 years ago, you're really saving some money.īasically, you're converting an expense (your electric bill) into a tax-free home improvement that actually generates money. The really good panels (Sunpower) have a 0.25% degradation rate, and a 92%, 25-year productivity warranty, so they are guaranteed to produce 92% of the power in 2046 that they were producing in 2021. Now consider a 3% inflation on the electric bill vs. Even if you didn't save any money month-to-month, and you financed your system for $200/month, you would still reap the benefit of a tax-free home improvement over sending the money to the electric company. If your bill is $200/month, there is no return on that. All those $100M wind farms they built in the pennies-an-acre West Texas panhandle are not subject to property tax. Which means any renewable energy improvements to your property, ie, the the amount of property value added by your solar power system, are not subject to property tax. Most states have a Renewable Energy Exemption. You can continue paying the ever-increasing cost of electricity, or you can get solar panels. your electric bill which will never "pay back". Many, if not most places in the US are above this. Or before you know it, you would have already paid the amount of interest the loan wouldve been, to the power company while you wait and thought about whether you couldve afforded a lower monthly bill or not lolġ1.8/kwh is pretty low. Guess what though, you dont have to worry about being able to pay off the loan! If you move, you will just attatch the system onto the price of the house and use the income of the house during escrow to pay off the remaining balance. Do you pay your own bills now? If your answer is yes: then itd only make sense to say I'm pretty confident you could afford a bill that's lower than what your currently paying, and will continue to pay no matter what. How confident are you that you can pay off the loan? I dont know, you tell me? Pretty sure you're not going to let the lights go out. Plus, you said it yourself: its $0 down and lowers your monthly bills. Not even going into ownership of your own clean power and the equity you are adding. Besides, the fact that it will never increase is worth it alone. See - įind the latest Help Wanted feature post HERE which includes links to several industry job listing sitesĪtleast it has an end date, unlike paying your power company. Searchable by country, state, and technology. * Clean Energy Training Directory - Training providers, workshops, undergraduate degree programs, graduate programs, and more. It is designed for workforce professionals, educators, policymakers and job seekers. * The Solar Career Mapping Tool - This is an interactive Solar Career Map offered by the Interstate Renewable Energy Council (IREC). NREL SAM - System Advisor Model application NREL - National Renewable Energy Laboratory Listing of Solar Conferences and Events at Renewable Energy World and SEIA SolarEventsĭatabase of State Incentives for Renewables and Efficiency Tip for help requests - because of variances in things like regulations, prices, and amounts of solar radiation, it is useful to provide general location info such as country and state when asking for help/info regarding your solar project. What changes when solar PV is combined with batteries? What is the global impact of solar PV on the overall energy industry? When will solar become affordable for all? Shine on you brilliant solar enthusiasts!īe sure to check out our wiki for more solar information and resources. Steady improvements in materials, design and labor have dramatically lowered costs, module efficiencies have improved gradually as well - both serving to make the technology much more competitive against fossil fuels in recent years. The solar module and the systems it drives - whether small residential installations or large, utility-scale power plants - is one of the great inventions of the modern age. This subreddit is for solar photovoltaic (PV) professionals, owners, and enthusiasts. Before submitting posts in this subreddit, read the current subreddit rules, suggestions, and helpful links post which is stickied to the top of the post list
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