Are Solar Panels A Good Buy?

Are Solar Panels A Good Buy?

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Mojo27564 says:

What about if you lease the panel for 25 locked rate for $70 less then your current bill

Eimpress Mie says:

do you qualify for financing ? solar panels save money but they also cost money. Before you apply ..let me give you a FREE credit analysis. If you have any blemishes on your credit report, I'll personally write you a customized dispute letter!

H B says:

Solar is for liberals!

JCsongwriter1 says:

That answer was better than I deserve

zwr9ne0fh8pk4bt635245 says:

Very impressed by Dave's answer. Much better than any network news report on PV solar.
Almost wondering if this was prepared Q&A prior to broadcast.
Good job. Almost perfect.
Coming from a 12y solar integrator veteran.

Sammy Sam says:

Hello, I’m not sure if you will read this . 3 years ago I ReFI my Mortgage loan to a 15 year at 3.5% at the time my loan was 244,000 now it’s 171,000. I having been paying extra to Principal. I just purchase solar . It cost me 52,000. I went with 47 Panels a lot. I don’t plan on selling my house . My Edison bill on average was 450 a month, during summer 1000. I take care of my mom and she runs that AC. So my question should I ReFI again and Combine my solar and mortgage. 15 year will be 3.25 or 30 year will be 3.5. The 30 year will give me little more cash flow .

Yatori says:

The fukers that control this stupid system even charge you for the sun, next, the air you breath. And we as the masses are so dumb and idiotic finding it sublime. FK this place. Earth will be better when we all die. Took this land from angels just to destroy it.

Rough Riders says:

From what I found in my research is that it does increase the value of the home but not $ for $. It's about .50c on the $. So a 20K solar system will add 10K value to the house but this again is dependent on a number of different factors.

Jose Montemayor says:

Thank you so much for sharing? how can I get you to endorse my solar consulting service for the Houston area?

Unkown known says:

I run my house on Beans and Rice, Rice and Beans.

Philip Chavez says:

Why do you guys out there ask this guy everything. Like he knows.. Solar he knows give me a break Dave stick to what you know best….

David DPD123 says:

He's right on some points but a search of the Berkeley study shows panels do increase the value of a home historically across a large sample in multiple states. And the value proposition is better now as costs have come down since many of those systems were installed..

"Berkeley Lab Illuminates Price Premiums for U.S. Solar Home Sales"

There's a NY Times article citing a study that the ROI is better on solar than the S&P, meaning it's better than active managers too unless it was their year to be the lucky one.

Also, it's as much your specific house as anything else. You can be in a great market or state for solar but have "a bad roof" for solar because of Azimuth, shading, tilt or other variables. A reputable solar company can determine this and will walk away if it doesn't make sense for you.

NY and NJ are great states for solar btw, even though they aren't high on the Sunshine scale. Search SREC to learn why.

Financed makes sense as well if you use a Solar Finance company as the loan can be transferable. If you can switch to a financed system and the math works out that, on an annual basis, it puts electricity in your home for the same cents per kWh as you're currently paying from the utility company and it a fixed expense with a finite number of payments it definitely makes sense. Eventually it will be paid off and you'll be getting free electricity.

Also the fact that he didn't address the fact that you can, in some areas, do a PPA which drops the cost per kWh immediately by 20-50% versus what your're currently paying, and a third party owns the system, speaks to the fact that he has limited knowledge on the topic.

Hard to know everything about everything

Brandon E. Smith says:

Get to the point. 🙄

Mark Brown says:

This is bs. Dave is only a big fan because he is getting paid to promote them. As big as his mansion is (no disrespect of jealously) he doesn't have them. He also doesn't explain that you have to get a ladder to clean the panels at least twice a year. Bird poop, tree brances and leaves will stick on the panel and render them useless.

Gheezenotagain says:

#1..the panels will have to eventually be replaced at a huge expense ..upwards of $20k to $30k.the government only helps with the initial system installation..approximately 30% plus state rebates if applicable…you will have to pay cash or finance a loan

#2..the inverters have a life expectancy of around 11 years, then it needs replacement…$3000 plus

#3…you now have to have maintenance on the system..cleaning of panels and checking system..$10 to$20 per panel twice a year recommended plus $150 to inspect system anually

#4…when roof replacement is required, you have pay solar company to remove and reinstall panels…roofers won't touch it

These are just some of the expenses that the solar companies won't tell you about…there goes your savings on electricity…too many solar companies paint a 'free' electricity story for you…be very aware…you won't save as much as you think…there will be other added costs for solar…it is not cheap at this point in time…

hbarudi says:

When it comes to upgrading your house to alternative energy, there are a few things you can do to finance without having to take out any loans. First of all, you need to prepare your house for solar. You need to buy a new meter from the power company to ensure that you can send electricity both ways through the meter. Then you need to get several mains switches that are 1 for the electricity coming in from solar, 1 is to disconnect from the grid, and last is another safety switch for the house and maybe an extra one for the batteries. Once you get the meter and the switches, get the inverter device that converts solar electricity to plug in electricity which is an important expensive part of any solar installation. Then once you have the main parts installed in your house, you can then begin by buying solar panels and batteries few at a time and installing them as you can afford them.

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