Quote:
Originally Posted by jpnh
Quote:
Originally Posted by AndreyATC
My monthly loan payment is $240 for 5yrs
I could have paid it out right, but it was cheap money.
Coincidentally my monthly utility payment was about the same. So to me it was no brainer. Either pay 240 for something that I own versus paying to utility company
In couple of years I'll have zero electric bill and zero payments
Not sure what your friend did. Doesn't sound like a good deal
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I have a 40 dollar a month electric bill
It works out to something like 30 years of electric bills just to break even
And that assumes zero maint costs and that the panels are still worth something/function at close to 100% efficiency after 3 decades
Even if I DOUBLE my electric usage its still 15 bloody years to break even asssuming zero maint costs |
Lucky you. Rates it NY are pretty high. My solar with Tesla new powerwall 2 also serve as a backup generator during power outage. If I went with Generac, like some people around , installation plus the unit itself is roughly $8000
My break even is 4.5 yrs on the install
Can also be off grid completely