(Topic ID: 208849)

Lets talk solar power...whats the best choice?

By cosmokramer

1 year ago

Topic Stats

  • 23 posts
  • 11 Pinsiders participating
  • Latest reply 1 year ago by Sputnik
  • No one calls this topic a favorite


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#13 1 year ago

Do that math and take into account how the output of solar panels decreases with age. I did the math once with the state subsidies we had and was leery with the payoff period being between 7-12 years. I guess do it if you want to be green, though the manufacture process for the panel isn't exactly environmentally friendly. If you are doing it for money reasons, you would probably be better off and taking less risk if you took that large chunk of money you would have used to pay for your panels and just invested it into the market.

Jbp8653 payoff would be 350-17 = 333. (35000*70%)/333 = 5.83 or about 6 years at minimum. 275-109 = 166. (35000*70%)/166 = 12.2 years. This is all not including loss in efficiencies as the panels age but you are look at something that will be greater than 6 years and up to something like 12.

#17 1 year ago
Quoted from jbp8653:

Yup, but you missed the fact that Uncle paid about 11k of it so for me use 24K instead. Plus I am on a on the grid system. When I produce more than I am using I sell it to the utility company and at the end of the year they write me a check. The system was kicking butt until we had some crappy weather here for several months and I lost all my credits. Now so far this year I am ahead. Won't know till next December though.

35k*70% = 24.5k. I put that 30% discount due to the government in the calculation.

The math is rough which won't be bad if the panels lasted a lot longer and didn't degrade but I am afraid that the panels won't be that efficient once being paid off. To me it is more of an idealogic choice than a financial one unless you live in an area that has very high electrical rates. Renewables are more competitive in places that have high electrical rates, Hawaii, west coast, and northeast. Europe has very high electrical rates and parity for renewables already exist.

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