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My house in California is peaking around 70kWh this time of year (April, 14kw system), well more than we're using. I can charge my tesla during the day and stil
by sxates 5y ago
My house in California is peaking around 70kWh this time of year (April, 14kw system), well more than we're using. I can charge my tesla during the day and still be exporting to the grid. Most afternoons my house is probably powering every house on my street.
- richwater 5y agoHow much was your system?
- johne20 5y agoNot op but we just installed 12kw system in Seattle and will have cost us $23k after federal tax credit. Approximately $2/watt. Get quotes from 3+ credible local companies. Also check energysage.
- robocat 5y agoIf you have a mortgage then you are effectively borrowing $23k from the bank for the period of your mortgage - so the total interest could be a significant chunk of money. Assuming that you have some leeway to pay your mortgage off quicker (depending on your exact terms).
- hilbertseries 5y agoHow does interest factor in here? Your mortgage is fixed with the bank.
- girishso 5y agoOP means he could have prepaid the $23K of mortgage, instead of spending on the solar system.
- seabrookmx 5y agoIf you pay off your mortgage quicker you pay less interest. Not sure what you mean by "fixed". Atleast where I live a standard 25 year mortgage can be paid off in ~10 if you were to double up your payments, because all of the additional money you're paying comes off the principal. Thus, the non-interest portion of the payment has _more than_ doubled.
- sagarm 5y agoHomeowner mortgage rates are well below the long-run return on e.g. the S&P 500. A solar system is just another alternative investment option.
- sxates 5y agoI actually talked about this in a previous comment: https://news.ycombinator.com/item?id=25283461 https://news.ycombinator.com/item?id=25283461
- enraged_camel 5y ago>> Of that $15k, $4.3k was for the panels themselves, $2k for the inverter, $1k for mounting hardware, and $8k for installation. What about on-site battery? In any case, $15k is still a bit too steep for me, not because I can't afford it but because I want something that'll pay for itself in less than 5 years. My electricity bill is about $150/mo. so a solar roof doesn't make sense financially, even if I'm able to sell the excess to the grid.
- sxates 5y agoWhy is the 5 year payback critical, as opposed to 7 or 8? You're still coming out ahead.
- CydeWeys 5y agoTime value of money, opportunity cost, etc. An investment that merely pays for itself in a large number of years is a bad investment. An RoI of 5 years is a decent rule of thumb to use.
- echlebek 5y agoIf you view it as an improvement to your home, which increases your home's value, then it can make more financial sense than if you only look at the pure electricity savings.
- PragmaticPulp 5y ago> What about on-site battery? Typical systems don’t have a battery, nor do they need one. The grid is used as the battery. An off-grid solar installation is significantly more expensive.
- 5y ago
- ShakataGaNai 5y agoNot OP but in NorCal (BayArea) is about $3/what. My 9.4kw system is generating about 55kwh a day right now. Because of the mild weather we've had, the last day we used more net power from the grid (than we produced) was March 18.
- potatoman22 5y ago$3 per what?
- 88840-8855 5y agoIt should be "$3 per whom", obviously.
- ShakataGaNai 5y agoMobile keyboards. Sigh. Even when you type things right, they bite you. At least as of last fall, it was roughly $3/watt for solar installs - before incentives. Right now TSLA advertises about $2.2/watt, which is by far cheaper than anyone else.
- perilunar 5y agoIs that a single family dwelling? If so, at 9.4 kW / 55 kWh per day, I would bloody hope you are exporting to the grid. That is an extreme amount of energy for a single family.
- ShakataGaNai 5y agoYes. Single Family Home. Last summer NorCal had some nasty heatwaves come through, with lots of "red flag" warnings. High winds, high heats. We had multiple days of 110F+. On those days we used more than 55kwh/day. That being said, the game with solar is that of averages. Right now we're making a lot and exporting a lot. When the summer heats up, we'll be making even more power, but not exporting as much. In winter time we generally need more from the grid than we make. Hopefully at the end of the year, we'll be near zero net.