Solar panels for your home. Who has them?

[Wits_End]

Depends on the rebates/subsidies! - Absolutely! If you only pay 1/4 of the cost then the math works. If you had to pay full price, then yes, by the time they are paid for, time to replace them.

We got them this summer. Total project cost was right about $40K, with no upfront cash. The math/cost savings we were shown indicated that it would take about 30 years for the solar panels to show a savings of $40 K. And the life span of the panels is about 30 years - at which time comes removal or replacement cost.

So right, the math doesn't work - Who Would Ever buy Solar Panels with That Scenario!

But the government (note - I live in a much more Liberal state than most of you) wants to promote Solar Power. They absolutely want to push the agenda that Solar power is feasible.

So much so, that they pay for, in our case, almost 3/4 of the cost.

Of our $40 K project, we'll pay around $11 K, which is projected to mean the panels pay for themselves in 7 years or so - for Us.

Yes, big picture/overall cost is - they really don't pay for themselves.

Small picture - with enough subsides, anything works!

From years 7-30, we should have free electricity.

I can't recall how much of the rebates/subsidies were federal & how much were state - but hey, keep paying your taxes and helping me & all other solar panel owners out there!!

I'm not pro or con on Solar or Wind power.

I do want to know the total cost of these things and an answer to the question of - Are they economically feasible without subsidies?

My experience with getting solar panels, showed me the answer is a big NO.

Every solar panel installation I see know (especially the big ones), leads me to a question of - Wonder how much that was subsidized?

The little bit the I have looked into Wind power installations, tells me that, without subsidies, those never pay for themselves either.

Isn't being governed by philosophies that just lead to more taxes awesome!

If you wouldn't mind doing some digging on what subsidies exactly, I would appreciate it. I found a state rebate that was hard to get and the federal 30%, which is now something like 25%.

[Jerry Worley]

Don't forget to add them to your homeowner insurance. That will be added an expense. I know somebody that had their place burn and he assumed they would fall under his current policy with his receipt/proof of purchase. They did not.

This. I am an Independent Agent and have been in the business 31 years. More than half the companies I represent will not cover solar panels. Please don’t assume your company does. One of my customers in Gatesville had hail damage on his roof. He spent around 45k on his setup. We covered it on his policy. The company he used quoted him 11k to remove and put back on after the new roof was put back on. Most the solar companies avoid telling you how much that is. The insurance company got them to accept a lower amount for the job. Don’t be the guy/gal who assumes on such a large purchase. You know what is said about assuming

[Royal21973]

I would run the other way! Why would someone put holes in roof and think it will be ok in 5-10 years??? The math doesn't add up. I have been told by several customers if I would put them in their house. After I explain my 2 cents on it; they thank me.

Look at the previous threads on this topic and the above advice.

It's snake oil unless your off grid as explained above

[KX500]

Ours was installed on the ground - on the roof would be must less appealing. Yes the Federal rebate was around 26% of total cost and the 'other' made up about 40% of total cost. I forget if that was all state money or a combination of state & federal.

[RGV Hunter]

My biggest gripe/concern is that I will pay for all cost excluding all the freebies from the tax payers and the company makes all the money. Even after I finish paying it they take all the surplus energy I will make and not give me a penny for it. And I still need to cover any and all maintenance cost.

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[ken800]

By the time they pay themselves off, they are worn out and have to be replaced. You will never get ahead.

Not true. I have just self-installed 8.1kW solar at my place and my total all in is about $8K. Minus the 26% tax credit, I'm about 3 years payback. It helps that the newer panels are 400W+. Mine are 405. In the next handful of years we'll probably be approaching 1000w per panel which will see solar really leap forward.

My electric coop refunds my overage of daytime generation at my kwh cost which is about .093. I then use it back up at night. Essentially I use my coop as a battery. If I went totally negative for a billing cycle they reduce the credit to just the energy cost minus the delivery charge. I'll be generating about 1300kW/month, on average, according to PVWATTS, which means about $130/month or thereabout.

I also should add that I did a ground install since I'm on acreage instead of roof. Didn't trust the holes in the roof.

[Man]

The only benefit i see after everything is said and done and your panels are paid for ...is the false warm cozy feeling that you somehow helped the environment. Until there is further technology advancement that translates into true cost savings and environmental improvement i will hold off.

[kch73]

As someone who works in the electricity/power business most of the time they aren't the correct solution for you and your home...the technology is getting better but we still are 5 to 10 years off for cost to come down and performance to come up. If you are in the ERCOT iso your power is really cheap if you do some cost shopping/comparison's.

[PYBUCK]

The energy company is required to buy back your surplus energy, but not at what they charge you. If they charge you .14 cents per kwh they will only pay you .02 cents per kwh for your surplus energy.

[txlawdog]

Call me the skeptic, if solar was such a great thing for the average Joe then I don't think there would be a need for incentives/rebates and high pressured sales. Just my .02

[wellingtontx]

Pay electric bill or pay equal or more to solar company. Also think about what happens if you try to sell property, becomes a real road-block.

[RGV Hunter]

Pay electric bill or pay equal or more to solar company. Also think about what happens if you try to sell property, becomes a real road-block.

You think having solar panels would hinder a sale on a house?

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[Mohawkman]

The energy company is required to buy back your surplus energy, but not at what they charge you. If they charge you .14 cents per kwh they will only pay you .02 cents per kwh for your surplus energy.

This is only if it is a coop. If it is TU or a version of they have to credit you what they charge you.