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Ainsel72l t1_j70rbdt wrote

Thanks for this. I live in a row house, and I've only ever seen them on single family houses. Do they actually save a lot in electric costs?

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ffejie OP t1_j71vqbk wrote

The math checks out for them to offset quite a bit of electric costs, but everyone's roof and tree coverage varies.

Usually with financing, the panels can generate enough electricity to pay for the monthly costs and then some. After the financing is paid off, you get even more savings monthly.

The biggest thing for me is resiliency. With solar and a battery, I won't have to worry about a branch knocking out my power and waiting several days for a repair. I've had quite a few friends have this happen, and it can be extremely dangerous in winter (ice storms) to go very long without power. I don't have a fireplace to light in an emergency, etc.

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Ainsel72l t1_j74badq wrote

Thanks! I'm afraid I'd have to hit the lottery first, and that's highly unlikely. Nice to think about though. I could switch to electric and dump PSEG (most of the time).😁

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ffejie OP t1_j74dgwt wrote

The point of the financing is that you *don't* have to hit the lottery to afford a ~$25K capital outlay. You just pay monthly and your electric bill is lowered by more than your monthly payment.

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