Anyone using solar power? Anyone thinking about it?

[homestarmy]

Originally posted by: dullard
I'd say that guy is full of sh!t.

Lets see what the US Department of Energy states:
[*]Average house uses $1500 of electricty per year.
[*]Average house uses 14% of that energy to water heating.
[*]$1500/yr * 14% = $210/yr = $17.50/mo.

Basically, that guy overpredicted the cost of the water heater by three times!

Of course, you may not be an average house. You may use more or less hot water than the average 4 person family. Since there are just two of you, would you wager that you use less?

Even if we pretend you could get that $4200 interest free, it'll take 20 years to break even at a $17.50/month savings. Of course, with solar power, you won't save that full $17.50 since it does use some electricity. And you have interest to pay on that loan. And you probably aren't at that $17.50/month level anyways with just 2 people. If instead you saved $10/month, it'll take you 35 years to break even.

I say there are better investments to make with your money. Heck, even if you just replace your old water heater with a fuel efficient heater for a few hundred dollars, you'd break even in a fraction of the time without having an ugly solar panel degrading your house value.

Solar technology would be great, if only the price was 1/4th of the price it is now.

True, but it says that I use 42% for heating and cooling. I hadn't used my AC at all for that month, and definately not heat. It is likely still pretty overestimated though.

 

[dullard]

Originally posted by: homestarmy
True, but it says that I use 42% for heating and cooling. I hadn't used my AC at all for that month, and definately not heat. It is likely still pretty overestimated though.

42%*$87 = $35.70. That is using your numbers. It still doesn't come close to approaching his $50-$55 number.

And if you are spending $35.70/month, a simple new water heater for a few hundred dollars (plus a few hundred in installation costs if you won't do it yourself) would give you almost all the solar water heater savings without the major cost.