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Tuesday, April 14, 2015
Why Solar Panels Are Suddenly Sprouting On Everyone’s Roofs
Have you noticed a lot more solar panels on homes recently? While an increase in solar panel installations can partly be explained by pointing out that people are more aware of energy conservation issues and want to save money, there’s a much simpler reason why there are more panels on roofs all of a sudden: they’re now super cheap, and aspiring solar panel owners don’t have to pay for the panels or their installation up front anymore.
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From the article:
"GOLDSTEIN: The way it works is John signed a contract promising to pay SolarCity a monthly bill for the next 20 years. In the long run, this will cost John more than if he just paid for the whole thing up front out of his pocket, but it makes it workable for him.
GOLDSTEIN: And so you're paying $180 a month. How much do you expect you're going to be paying on this?
O'HAGAN: It should come down to about $100-$110 a month. Once the switch gets flipped and these guys hook me up to the electric box, I'm all set."
These numbers don't add up. The cost of the installation for this according to the article would be around $25,000. But instead he is paying a monthly charge(according to him $100-110 see above) for 20 years.
That would equal between $24-26,000 at the end of the 20 years. I don't think that monthly charge he quotes is correct. Also he said his current electric bill is $180/month. He will still have to be hooked up to the electric utility which will cost him for each month plus the cost of the electricity he gets from the utility on cloudy days. I'm for solar power but I don't think it has become cost effective yet, unless you live in a very sunny area with high electric costs.
Tax credits. That's it.
Remember you heard it here first..there is a future in Solar shingles
Maryland averages 105 sunny days a year.213 if you count partly sunny days.Don't know if solar panels are worth the 25k.
805-Asphalt shingles are reliable, solar panels are not. But, maybe someone someday will invent something that can work. Today? N/A.
839-According to multiple reliable studies, in Maryland, after 20 years on your roof, you won't have earned back your original investment.
Once again... Residential solar systems are a COMPLETE waste of money!
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