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This will absolutely increase the already high cost of homes. Even f its "eventually" cash flow positive, there are much better things one can do with money tha
by frockington 8y ago
This will absolutely increase the already high cost of homes. Even f its "eventually" cash flow positive, there are much better things one can do with money than "invest" in solar panels
- epistasis 8y agoIt's cash flow positive from day 1. Your mortgage increases by $20/month, and utilities decrease by $40/month, or whatever. This is why there are companies willing to lease your roof space to install residential solar.
- frockington 8y agoSo even without interest, that's a 7200 cost that will take 180 months to get back (15 years). And this is also assuming there is zero maintenance and you will never need to replace the panels. I'd rather not be forced into this "investment"
- zdragnar 8y agoWhere did you get those numbers? I was under the impression that each $10k on a 30 year loan was roughly $70 / month, depending on your interest rates and property taxes. If $40 / month is what you can expect from electricity savings, it's an absolutely awful investment.
- epistasis 8y agoI just made them up, off the cuff, which is what I meant to imply by "whatever." The average estimated numbers are $80 of savings for $40 of finance cost: http://www.energy.ca.gov/releases/2018_releases/2018-05-09_building_standards_adopted_nr.html?platform=hootsuite http://www.energy.ca.gov/releases/2018_releases/2018-05-09_b... If you consider it an "awful investment" then you simply not make the investment, let a solar company make the investment and do it through a lease instead, with zero upfront cost: http://www.residentialsolar101.org/solar-lease http://www.residentialsolar101.org/solar-lease In any case it's absolutely clear that this move decreases the cost of a new house after 2020.