I don’t know how anyone affords home solar. We got 2 quotes last year to put solar on our 1000sqft roof from solar installers in our area. The first was just over $100k, the second $160k! The second quote was for more than we have remaining on our mortgage - how is anybody doing this?
That’s seems ridiculous: where are you? Are you sure that’s just solar, or would it also include batteries, maybe a “solar roof”, instead of solar on the roof?
Where I live in the northeast us, it’s typically $20-30k. That’s ridiculously expensive and beyond any reasonable payback but state incentives make it much more reasonable. They claim 4-7 years payback but since I can’t follow their math, it goes into the bin with the rest of advertising hogwash
It’s not about having the money laying around. It’s about seeing if the cost over 25 years of electric bills is higher or lower than financing $20-30k.
If it’s more expensive to pay for 25 years of electric bills, buy the solar. If it’s more expensive to finance solar and maintain, keep paying your electric bill.
In some places and buildings, it’s cheaper to use solar. In some it’s not.
Also if you happen to be on undeveloped land with no power, the electric company often charges $1200 or more per pole to get to you, so it very quickly becomes worth it to just do off grid solar.
There was one guy I saw who was 400ft from power but thepower company wanted so much that for a tiny fraction of that he was able to put in a really nice off-grid solar setup. Plus then you don’t need to deal with connecting to the grid or any sort of permitting depending on where you are or how little you care about permits.
you still need the spare income to buy new land while continuing. to pay mortgage/rent at your current home, and the spare time to do all the actual development
Yeah I get that. The problem is (at least around where I live) is they don’t give you 25 years to pay it off. I need to take out a loan to pay it back pretty quickly and I’m paying with interest so it changes things a little. I also can’t find any one that can do it for under like 50k which sucks. At least not yet.
I’m hoping that prices drop and the subsidies get a little more helpful or something. But right now I just can’t figure out a way to afford it. It’s just too expensive. Do you have them by any chance?
Even in that case, you are overpaying in the early years and getting free electricity for the rest of the life of the system. If you can only get a 7 year loan, you may have a higher bill for 7 years, but no bill for 18 years while electricity prices continue rising is a pretty awesome benefit.
You still weigh the balance to figure out what is economically the best option.
I don’t have them on my home because my HOA disallows them. I did, however, initiate and helped manage installation of systems on 3 separate family members’ homes and since I had already done the research and the financial benefit worked out for each of them. One was 6 years ago, one was 3 years ago, and one was 2 years ago and none of them have any complaints.
The 6 yr old system is almost paid off and has already reached its pay-off value since electricity prices keep rising… meaning, they haven’t paid off the system, but would have spent more in electricity in the 6 years they have had it if they would not have installed it.
I am currently in the process of moving out of a neighborhood with an HOA and plan on installing a system as soon as I get into my new home.
That’s a sneaky-ass edit just to rant at someone on the internet. They didn’t say “only 20-30k” they said it’s 20-30k for just the solar panels on the roof. They even go on to say that 20-30k is really expensive.
lol i didn’t edit my comment. If by edit you mean i “misquoted” the parent comment then i suppose you’re technically right. Let me fix it, “it’s typically $20-30k for solar panels on my roof, only.” i really don’t think it’s very different than “20-30k only”. I understand it’s still expensive… that’s kinda exactly my point. But saying something is “only” $20-30k is just pretty funny to me cause i’m a poor lol.
Keep mind that the prices in the article are FOB China (i.e. cover deliver to a ship in a port in China).
Shipping for Shenzhen (most likely port) will be between $1000 and $2000.
Duty tax for photovoltaic panels from China is 0% (I was curious so checked the TARIC database) but VAT gets added on top of it all (both the panels and the shipping) which depends on the country but will be around 20 - 25%
What I’ve seen generally (not solar panels but years ago I did look into importing LED lamps) is that doing it directly tends to result in it costing as little as 1/4 of the price but, on the other hand as a small purchaser you run certain risks in terms of quality and the manufacturer guarantees actually being possible to uphold (I’ve imported stuff were the failure rate was 10% and if you have to send stuff back, it’s going to cost you).
It’s worth considering for a big enough installation.
That said if one goes DYI, looking around in the EU for better prices is well worth it and does not carry anywhere the same risks (but also won’t save you as much) as a retail buyer for something that’s 7000€ - this kind of stuff is were the single market really makes a difference and might save you a few thousands of euros.
I don’t know how anyone affords home solar. We got 2 quotes last year to put solar on our 1000sqft roof from solar installers in our area. The first was just over $100k, the second $160k! The second quote was for more than we have remaining on our mortgage - how is anybody doing this?
That’s seems ridiculous: where are you? Are you sure that’s just solar, or would it also include batteries, maybe a “solar roof”, instead of solar on the roof?
Where I live in the northeast us, it’s typically $20-30k. That’s ridiculously expensive and beyond any reasonable payback but state incentives make it much more reasonable. They claim 4-7 years payback but since I can’t follow their math, it goes into the bin with the rest of advertising hogwash
“20-30k only”… Lmao
I mean I get that it’s a hell of a lot less than 100k but I don’t have that kinda money just laying around
It’s not about having the money laying around. It’s about seeing if the cost over 25 years of electric bills is higher or lower than financing $20-30k.
If it’s more expensive to pay for 25 years of electric bills, buy the solar. If it’s more expensive to finance solar and maintain, keep paying your electric bill.
In some places and buildings, it’s cheaper to use solar. In some it’s not.
Also if you happen to be on undeveloped land with no power, the electric company often charges $1200 or more per pole to get to you, so it very quickly becomes worth it to just do off grid solar.
There was one guy I saw who was 400ft from power but thepower company wanted so much that for a tiny fraction of that he was able to put in a really nice off-grid solar setup. Plus then you don’t need to deal with connecting to the grid or any sort of permitting depending on where you are or how little you care about permits.
If you’re building a house from scratch on undeveloped land then money is probably less of a concern for you to begin with.
Undeveloped land is generally the cheapest
DIY everything…
you still need the spare income to buy new land while continuing. to pay mortgage/rent at your current home, and the spare time to do all the actual development
Yeah I get that. The problem is (at least around where I live) is they don’t give you 25 years to pay it off. I need to take out a loan to pay it back pretty quickly and I’m paying with interest so it changes things a little. I also can’t find any one that can do it for under like 50k which sucks. At least not yet.
I’m hoping that prices drop and the subsidies get a little more helpful or something. But right now I just can’t figure out a way to afford it. It’s just too expensive. Do you have them by any chance?
Even in that case, you are overpaying in the early years and getting free electricity for the rest of the life of the system. If you can only get a 7 year loan, you may have a higher bill for 7 years, but no bill for 18 years while electricity prices continue rising is a pretty awesome benefit.
You still weigh the balance to figure out what is economically the best option.
…And I missed the last question.
I don’t have them on my home because my HOA disallows them. I did, however, initiate and helped manage installation of systems on 3 separate family members’ homes and since I had already done the research and the financial benefit worked out for each of them. One was 6 years ago, one was 3 years ago, and one was 2 years ago and none of them have any complaints.
The 6 yr old system is almost paid off and has already reached its pay-off value since electricity prices keep rising… meaning, they haven’t paid off the system, but would have spent more in electricity in the 6 years they have had it if they would not have installed it.
I am currently in the process of moving out of a neighborhood with an HOA and plan on installing a system as soon as I get into my new home.
That’s a sneaky-ass edit just to rant at someone on the internet. They didn’t say “only 20-30k” they said it’s 20-30k for just the solar panels on the roof. They even go on to say that 20-30k is really expensive.
lol i didn’t edit my comment. If by edit you mean i “misquoted” the parent comment then i suppose you’re technically right. Let me fix it, “it’s typically $20-30k for solar panels on my roof, only.” i really don’t think it’s very different than “20-30k only”. I understand it’s still expensive… that’s kinda exactly my point. But saying something is “only” $20-30k is just pretty funny to me cause i’m a poor lol.
Really depends on your area and amount of solar.
For the DIY approach with 20 panels here in belgium, it would be about 7000€. A contractor is estimated at around 9000€.
If you make a whole solar farm it would be of course, much more, but for a single family with <8000VA it is more reasonable.
To get a 100k+ quote your area must have horrible anti-solar installment fees or the company is not legit.
Keep mind that the prices in the article are FOB China (i.e. cover deliver to a ship in a port in China).
Shipping for Shenzhen (most likely port) will be between $1000 and $2000.
Duty tax for photovoltaic panels from China is 0% (I was curious so checked the TARIC database) but VAT gets added on top of it all (both the panels and the shipping) which depends on the country but will be around 20 - 25%
What I’ve seen generally (not solar panels but years ago I did look into importing LED lamps) is that doing it directly tends to result in it costing as little as 1/4 of the price but, on the other hand as a small purchaser you run certain risks in terms of quality and the manufacturer guarantees actually being possible to uphold (I’ve imported stuff were the failure rate was 10% and if you have to send stuff back, it’s going to cost you).
It’s worth considering for a big enough installation.
That said if one goes DYI, looking around in the EU for better prices is well worth it and does not carry anywhere the same risks (but also won’t save you as much) as a retail buyer for something that’s 7000€ - this kind of stuff is were the single market really makes a difference and might save you a few thousands of euros.