Seriously made me think about “owning” your (solar) power although off topic. Actual power portion of utility bill approx $150 (total utility bill $250).
That’s $18,000 after 10 years let’s assume 3% increase annually just ball park $1800 So total cost of “renting” power. $19,800 every 10 years just an average let’s say. That’s $40 thousand after 20 years. With no depreciating asset and 0 debt. Now the solar companies come in…
They sell you $10,000 worth of panels and wires and boxes to replace no off grid batteries (that’s an extra $10,000 every 10 years). They realize you will get a $10,000 credit so they markup to $30,000. And they fluff $10k while telling you get a rebate oh goodie!
Then the install is $10k for 2days work with a decent crew. $40,000 so it would take 20 years to break even if that was the end. What about the, ROI??
After 20 years you pay $3,000 to the utility company just to stay on the grid so you’re negative so far. Then lol, hopefully the loan was interest free? Otherwise you’re even further in the hole. Well at least you have equity when you sell right? No it’s a depreciating asset no resale value darn. Well at least they maintained themselves right? No you spent another $250 (?) per year to clean them. Ok well at least after they are paid off I have free power for life?
Actually no, your solar panels are 20 years old. They are practically worthless and produce a fraction of their original output. Warranty is over and you’ll have to start all over if you want to own and produce your own power for the next 20years. Oh and you still pay $15-$20 per month to stay on the grid.
The silver lining, having me clean your solar panels regularly will maximize their output and performance and longevity!!