scallihan Loc: Tigard, OR

My energy provider increased our rates as of Jan 1 by 18%, so got a quote for solar panels on my 1200 sq ft house. My HOA does allow this with some very reasonable aesthetic restrictions. (We have a great HOA!)

The presentation was very comprehensive and convincing. The cost came to a little over $11,000 AFTER state and federal incentives. I could pay cash or finance at 3.99% for 25 years for a monthly payment of $124.00.

The presentation factored in the months when I would not pay anything to my energy provider (7 months/year) and I would pay a small amount to the energy provider the other (colder or hotter) 5 months. This energy provider does not "buy back" if one uses less energy than generated by the panels.

The salesman was very professional and did not apply undue pressure. I said I would think it over and let him know the following Monday.

So I averaged my annual bills for 2023 and added 20% (including all the junk charges beyond cost of energy used), then added 20% to that for the next five years. After FIVE years of annual 20% increases (which is pretty extreme and unlikely to happen), my monthly electrical bill would still be less than $124/month (let's not forget there are months when I would be paying the utility provider over and above that $124 fixed payment).

So if you are thinking of looking into solar, do your due diligence first so you have a true comparison on hand before signing anything.

lxu532 Loc: Cherry Hill, NJ

Thanks for the information.

BebuLamar

How much energy your system can generate? If the energy provider doesn't buy back and you don't have battery storage you will always have to use electricity from the grid at night.

therwol Loc: USA

The way it is supposed to work is that they do take your surplus energy in the daytime and reduce your bill accordingly. At the end of a year, they figure what you used against what you made. If you don't generate as much as you use, then you owe some money. If you generate more than you use, then they don't pay you for it. It's the same in California. If your system is large enough, then you're giving them free electricity. To complicate things in California, the rate that they pay for solar was recently cut to nearly nothing. (Existing systems are grandfathered in at the previous rate.) If you install solar now, then you'll never pay for it. To make matters worse, all new home construction in this state are required to have solar, which will add to the cost of homes. Solar companies are going out of business here.

Texcaster Loc: Queensland

My solar hot water lasted 23 years and paid for the new one. We're early adopters of solar and sell power to the grid at a high 'legacy rate' ... and our AC is free. When the 'legacy rate' lapses we'll add more panels.

jaymatt Loc: Alexandria, Indiana

Exactly! My solar sales pitch told me that I would average out and be ahead in 25 years. I'm 81 and still laughing. I'd finally be ahead when I am 106.

Indi Loc: L. I., NY, Palm Beach Cty when it's cold.

I don’t know about your area & utilities “buying back” electricity but in NY, the utility buys energy back from you at the “wholesale rate” so it wouldn’t be at the rate you pay them. I don’t have solar, but I do believe in
It.

andesbill

My electric bills for my 1983 sq ft house came to $200 5 years ago. I paid cash for solar. It will take about 12 years to break even. The actual savings are about $190/month.
My costs have increased because I added a pool heater and Tesla.

BebuLamar

He said his energy provider doesn't buy his extra electricity so he get nothing when he generate more power than he needs.

Dikdik Loc: Winnipeg, Canada

and also look into the increasing cost for conventional power. The large increase that prompted him to look into solar, may just be the tip of the iceberg. With climate change, I suspect power costs are going to increase substantially in the future.

Canisdirus

I looked into it...having a fairly large home...I knew it would be a major step.

I also did the math and decided...no dice.

For one thing...you have to anticipate that technology is going to keep rolling along...if you tie down to a system today...in 10 years...or less...your system will be long in the tooth.

I opted instead to buy a portable solar system...just to tide us over any storm gaps. Not too many panels needed since the system is not primary...and the main units are portable...and easily sold when I want to upgrade.

Dikdik Loc: Winnipeg, Canada

an interesting article at:

https://www.architectmagazine.com/design/reduce-a-buildings-environmental-impact-with-these-innovative-weatherization-strategies_o

george19

My mileage is different, and it’s worked out to be a net positive. We were making about 100% of our need (new addition, so things have changed a bit), and net cost is about 50% of the regulated utility. We went from $120 per month year round (pretty consistent) to $60 per month (varies between $30 and 90, higher in the summer when we make more and that’s our lease). That leaves about $13 month connect charge, that we have to pay to the grid 5 to 7 months a year. It’s a lease, so no out of pocket. It’s also a small system, so we don’t get the most favorable rate.

Also, we had a tree taken down, so are looking to more than double the installed system size at a flat rate of $90/month, cash back at the end of the year.

robertjerl Loc: Corona, California

We did the math and concluded A. the wife and I would not live long enough to recoop the $ B. our kids, after we pass, probably wouldn't live long enough either (our house is in a trust, and after we pass our oldest and youngest become trustees and the trust keeps the house for our special needs son to live in and be cared for either by one of them living with him or hiring a live in).
If you live somewhere that disasters or outages are a reality (hurricane, earthquake, world goes to hell) and you have medial needs + food storage, you might do it as disaster preparedness. BUT the installation would have to be robust enough to survive the disaster and still work.
My answer to that one is a few sets of solar generators + panels with extra batteries for vital things. I also got a small portable refrigerator that looks like a large picnic chest for taking in the car or using for meds during a power outage. A bonus is they can be taken with us if the disaster is so bad we have to bug out. We could live in tents somewhere and still keep our meds cold and CPAP etc. working. Now getting more meds??? That is another problem.
And if you ask "How do you keep someone else who didn't prepare from taking your stuff?" Well...I am a small town farm boy from Kentucky (hunting country) and a 2-year Vietnam Vet and our oldest is Army Reserve (Iraq vet+SF), our daughter is an MD, and they would be welcome to come along. So, defense, taken care of, medical help taken care of, just need to hunt/find food and hopefully find a source of meds.

Dennis833 Loc: Australia

My solar investment has been a very positive. We purchased the system outright and my energy provider buys energy back so we now have a $220 AUD credit after the last three months. We also have an AIRBNB gallery apartment using electricity of the same tariff.