Anyone have solar panels on their roof?

[swbsam]

I read an article about solar panel installers offering financing on the pricey installs, providing 80% of your electricity needs for a slight savings over traditional electricity delivery (they supposedly work out the financing so that your financing is less than your average electric bill). Coupled with the tax credits (about $18,000 in NYC), this seems like a decent option.

Anyone here have solar panels? I full expect their estimate to be off and expect to pay a bit more monthly than what my current electric bill is but am willing to do so since I'm a bit of a hippy. But it would be a total waste of money if the panels are only efficient enough to power say a light bulb...

 

[Vette73]

They are worth it if you plan on staying at for 10years or so (what ever the pay off is) and also if you think power rates will go up.

They are not worth it if your state does not offer much tax offerings and/or the payoff is longer then you plan on staying.

Check out some Solar forums as they will have better answers then most here.

 

[rudeguy]

bsobel has some great input on this.

Having worked in sales for years, I can tell you that solar panels are a magnet for direct salesmen. If you can invest all that money in solar panels, surely you will see the value in a $1500 vacuum.

 

[Adul]

looking at first solar. Co worker of mine will be getting them this november. He is leasing them for 53 a month for 6kw of capacity. He will be saving 73 a month in electricity.

 

[ghostman]

I've always wondered if solar panels were worthwhile and reliable enough. I'm also in NYC, so OP, if you do go through with it, provide the details so others can compare and possibly follow.

 

[swbsam]

Originally posted by: ghostman
I've always wondered if solar panels were worthwhile and reliable enough. I'm also in NYC, so OP, if you do go through with it, provide the details so others can compare and possibly follow.

Sure, I haven't gone very far (I'm still closing on a house), but I called sunpower ( http://us.sunpowercorp.com ) and they were very helpful. They told me that a local rep would contact me withing 48 hours and that we could schedule an evaluation at that point.

 

[BoomerD]

http://www.findsolar.com/

 

[imported_Imp]

I know someone on my street who plans on installing solar-heat panels; the type to help heat water, not generate electricity. From various reading, it sounds like solar panels for electricity aren't that efficient, and take a long time to recover their cost. The water heating type should be a bit better.

 

[BoomerD]

From researching this a couple of years ago, to completely eliminate my electrical bill, I'd have to install about $60,000 worth of solar panels. That would save me an average of $125-150/month. The rebates available from the local utility would pay for almost half of the cost, then, (IF I had taxable income) I could qualify for a 30% (non-refundable) tax credit.
The break-even period is over 15 years.

"Estimated Cost: The approximate cost is an estimation based on a price of $9/watt. This is the average rate, including parts and installation, for systems above 2kW. $58,708.22
Post Incentive Cost: The post incentive cost is an estimation based on the available credits/rebates for your area. This may include kWh production incentives for up to 25 years if applicable in your area. This provides an approximation of the local/state incentives, and should only be used as an
approximation. $30,410.86
Avg. Monthly Savings: $123.73
25 Year Savings: The 25 year savings is based on the amount of electricity cost you save over a 25 year period assuming a yearly 4% increase in
utility rates. $61,832.18
25 Year ROI: 203.32%
Break Even: 15.25 years

 

[WannaFly]

I'd like to on my house, i'm in FL so there is plenty of sun. In my preliminary research (didnt call any installers), it looks like it'd cost about 30-40k to get a 5-6kw system installed, and my roof is barely large enough (it not too small). We use very little energy in the house, and would need <5kw/day IIRC.

Unfortunately, I dont have the money right now. MAybe in the future. I'm interested to hear yours and others experiences.

edit:
I have some plans for a backyard solar project that would involved running a waterfall pump and some lighting off of a 1kw system, looks like it'll be about 1-2k if i install it myself.

 

[Cheeseplug]

Useless in Cleveland.

 

[Exterous]

Originally posted by: BoomerD
From researching this a couple of years ago, to completely eliminate my electrical bill, I'd have to install about $60,000 worth of solar panels. That would save me an average of $125-150/month. The rebates available from the local utility would pay for almost half of the cost, then, (IF I had taxable income) I could qualify for a 30% (non-refundable) tax credit.
The break-even period is over 15 years.

"Estimated Cost: The approximate cost is an estimation based on a price of $9/watt. This is the average rate, including parts and installation, for systems above 2kW. $58,708.22
Post Incentive Cost: The post incentive cost is an estimation based on the available credits/rebates for your area. This may include kWh production incentives for up to 25 years if applicable in your area. This provides an approximation of the local/state incentives, and should only be used as an
approximation. $30,410.86
Avg. Monthly Savings: $123.73
25 Year Savings: The 25 year savings is based on the amount of electricity cost you save over a 25 year period assuming a yearly 4% increase in
utility rates. $61,832.18
25 Year ROI: 203.32%
Break Even: 15.25 years

That was a pretty similar estimate to what I had. I don't have the hard numbers handy but I calculated our break-even point at ~23 years (I don't remember coming up with quite as high of a rebate/tax incentive for our area as yours Boomer) But that didn't take into account our very sun-lacking winters here in Michigan

 

[silverpig]

The most cost efficient way to do solar is to get a solar water heating system. A lot of your electrical bill goes to heating water for showers/dishes, and using the sun saves a lot of money. Typically with incentives and tax credits factored in, a solar water heater will pay itself off in about 5 years.

 

[BoomerD]

Originally posted by: Exterous

Originally posted by: BoomerD
From researching this a couple of years ago, to completely eliminate my electrical bill, I'd have to install about $60,000 worth of solar panels. That would save me an average of $125-150/month. The rebates available from the local utility would pay for almost half of the cost, then, (IF I had taxable income) I could qualify for a 30% (non-refundable) tax credit.
The break-even period is over 15 years.

"Estimated Cost: The approximate cost is an estimation based on a price of $9/watt. This is the average rate, including parts and installation, for systems above 2kW. $58,708.22
Post Incentive Cost: The post incentive cost is an estimation based on the available credits/rebates for your area. This may include kWh production incentives for up to 25 years if applicable in your area. This provides an approximation of the local/state incentives, and should only be used as an
approximation. $30,410.86
Avg. Monthly Savings: $123.73
25 Year Savings: The 25 year savings is based on the amount of electricity cost you save over a 25 year period assuming a yearly 4% increase in
utility rates. $61,832.18
25 Year ROI: 203.32%
Break Even: 15.25 years

That was a pretty similar estimate to what I had. I don't have the hard numbers handy but I calculated our break-even point at ~23 years (I don't remember coming up with quite as high of a rebate/tax incentive for our area as yours Boomer) But that didn't take into account our very sun-lacking winters here in Michigan

Use the calculator on the link I posted earlier. It gets pretty close to actual costs/rebates/incentives.

 

[Suspicious-Teach8788]

Wait till thin film panels really go wild.