Updates
September 20, 2012: When I originally posted the story below, I did not notice that the cost of batteries was not included. It's very possible the owner opted not to have batteries, but a true solar home would also have batteries. See this link for battery issues.
Original Post
Link here.
A lot of little data points regarding solar energy.
- natural gas so much cheaper than solar now
- $21,000 for average family to install
- likely life of the system: 17 years
- payback time: 17 years; double what it was because natural gas so cheap
- cost of repairs in the meantime?
- cost to dispose of old solar panels
- and who's to blame for this cheap natural gas? those companies engaged in hydraulic fracking, you know, " ... fracking, as it's called, is a controversial drilling technology that some say harms the environment."
However, what I've noticed over the years is that most folks are more concerned with monthly payments than with the total cost of the item bought over time. Financial advisers tell us it is better to pay for something up front; that paying for it over time significantly increases the cost of the item, for example, buying an automobile on time.
Yes, that's true, but most average Americans don't have $40,000 for a Chevy Volt and need to pay for it over time. The same with $21,000 solar panel systems. They look for the best interest rate and go from there, worried more about the monthly payment than the total cost.
So, in the example above (and the story linked) I don't know if the $21,000 represents the total cost (paid for over time) or if it was the one-time cost.
I've also noticed that folks don't like admitting how much they REALLY paid for something, so the $21,000 is probably the price for the system before interest if paid over time.
And if you buy a house with solar panels installed, the first thing you need to ask, is when will they need replacing?
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