Posted by Geo-TH,In on November 07, 2023 at 05:29:36 from (65.189.196.95):
In Reply to: Solar posted by Vito on November 06, 2023 at 16:42:56:
Vito. No solar here.
I would like to see the numbers, the math, when someone says it will pay for itself in X years. Does the payback include paying interest on the loan you take out?
I invest in many things that make me money.
My latest investment is FDIC CDs paying 5.5%. You can get paid interest on a 6 month, yearly or even a monthly income.
If I put $40k in a 5.5% CD it will pay close to my total annual electric bill, $2100, and my house, garage and pole barn is totally electric.
And at the end of the day, I will still have $40k cash. I can move to another state and not worry about taking my solar panels with me.
How much does it cost to insure your solar panels?
Do solar panels add to your property taxes?
How often do you need to clean solar panels?
What do you do with your excess electricity?
Neighbor lost two inverts. That can't be cheap.
I know Indiana and Illinois have different rules when it comes to the power company buying back your excess electricity.
Solar may be a money maker, not sure.
As for me, there are too many unknowns, too much uncertainty.
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