GeneralDisturbed

GeneralDisturbed t1_j1nfa8c wrote

Seems pointless to lock myself into a 30 year payment for a 50k dollar system that requires I still pay my normal electric bill with no benefits whatsoever beyond "A slightly less electric bill that is completely offset by 30 years of payments."

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I'm still paying an electric bill, still reliant on the electric grid for having power. If the power grid in my area fails I'm still completely in the dark.

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I see no reason for me to lock myself into a 30 year contract for a 50k dollar system that theoretically will give me a benefit in 30 years assuming the system still works. As I said, if solar becomes cheaper and more accessible I wouldn't be opposed to installing a system. But right now it is incredibly expensive, and gives me nothing of value out of adding it to my home.

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GeneralDisturbed t1_j1mibx4 wrote

I'm a new homeowner who looked into solar. I primarily wanted Solar not for savings, but so I had a secure source of power should our electrical service fail, as we are in a fail prone area.

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A base system would be 50k dollars. That is just panels and inverter installed. That does not include the cost of a battery backup. And also the panels would not produce enough power to fully offset my electric bill.

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So for 50k dollars I would still have to pay my electric bill every month, reduced by some unknown amount. Plus the loan for the solar panels every month. Plus I would still be 100% dependent on the local power grid.

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I took a few thousand of the money I would have wasted on solar and invested in a natural gas generator instead and tied it into my natural gas line.

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Assuming solar ever became reasonably priced in the future I might consider it again. But right now as a homeowner I see no reason whatsoever to invest in solar. It's incredibly expensive, and still leaves me utterly dependent on my local power grid and still having to pay an electric bill to the electric company. What's the point?

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