Mother Of All Whore Threads Non-VIP Edition v.1

I wanted ask on here if anyone has solar panels and if they are worth the investment? Just thought I'd ask in here instead of making a thread for it.
 
Gitrdone42 said:
I wanted ask on here if anyone has solar panels and if they are worth the investment? Just thought I'd ask in here instead of making a thread for it.
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We had 2 companies come out and give us quotes. Not worth is for us.

Both companies were comparable and ended up being $30,000/10year loan to replace our avg $120 a month bill and maybe sell back a couple months. The second company went further and talked to the HOA and the town. HOA doesn’t allow for the panel to be in the front of the house which is the most efficient side for us. We also didn’t want them on the front. So the company said to do them all on the ground. We didn’t want to loose the yard space so that was a no go.

We are also thinking about a new home or maybe just adding on to ours to make it a “forever home” in the next 3-5 years. Since we are on a toss up on that, the long term investment doesn’t look too good.

So at the end out it, you are replacing a power bill for a loan bill that goes away after 10 years or whatever terms you have. Maybe sooner depending on solar credits. There are gov/state solar credits but those only apply if you pay on your taxes come April 15th. Basically if you get a refund on your taxes, you don’t get to use those solar credits. Also, you can only use x amount of solar credits per year.

I think we would of qualified for $16,000 in credits but can only use $3000 a year(if I remember correctly). Problem is that we don’t pay a lot in taxes come April 15th. But there are ways to change your paychecks withholding/exemptions....talk to your accountant, lol.
 
We are planning on staying in the house forever unless something drastic happens. Our power bill will always be higher because of the electric company we are on. They told us there's a 26% federal tax credit and a 25% state credit also.

I definitely have some more info to look into but I think we would benefit going with it mainly for the fact of the electric company. Our power bills will probably range from 150 to 300 a month. The system they quoted us for is $36K for 20 years. We were told if we used the tax credit money to go towards the price we would pay roughly half ourselves.
 
Gitrdone42 said:
We are planning on staying in the house forever unless something drastic happens. Our power bill will always be higher because of the electric company we are on. They told us there's a 26% federal tax credit and a 25% state credit also.

I definitely have some more info to look into but I think we would benefit going with it mainly for the fact of the electric company. Our power bills will probably range from 150 to 300 a month. The system they quoted us for is $36K for 20 years. We were told if we used the tax credit money to go towards the price we would pay roughly half ourselves.
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The tax credit thing comes into play toward your loan by replacing what you would potentially pay to Uncle Sam goes to the loan of the solar panel. At least that’s how it was explained to me.

So say you pay Uncle Sam $2000 on April 15th as a yearly average but you have $10,000 in solar credits. You use $2000 of your solar credits and apply it to your tax bill to Uncle Sam. So the $2,000 that didn’t come out of your bank account to pay Uncle Sam should now be spent/send to whomever holds the loan for the solar panels.

This is how it was sort of explained to me. I got a few crumbs but had to put it all together myself. No sales person will tell you this exactly unless you probably push for the info because it sounds a hell of a lot better to say “you can save 50% off your solar panels due to tax credits” rather than what it actually is.

At the end of it all, $36,000 will come out of your pocket, just depends on who actually gets that money.....Uncle Sam or the “solar company” lender.

Then again, $36,000 would of gone to the power company during the same time, but now that goes to paying off your solar panels and after the loan is paid off, you get “free” electricity.
 
Nomar06 said:
The tax credit thing comes into play toward your loan by replacing what you would potentially pay to Uncle Sam goes to the loan of the solar panel. At least that’s how it was explained to me.

So say you pay Uncle Sam $2000 on April 15th as a yearly average but you have $10,000 in solar credits. You use $2000 of your solar credits and apply it to your tax bill to Uncle Sam. So the $2,000 that didn’t come out of your bank account to pay Uncle Sam should now be spent/send to whomever holds the loan for the solar panels.

This is how it was sort of explained to me. I got a few crumbs but had to put it all together myself. No sales person will tell you this exactly unless you probably push for the info because it sounds a hell of a lot better to say “you can save 50% off your solar panels due to tax credits” rather than what it actually is.

At the end of it all, $36,000 will come out of your pocket, just depends on who actually gets that money.....Uncle Sam or the “solar company” lender.

Then again, $36,000 would of gone to the power company during the same time, but now that goes to paying off your solar panels and after the loan is paid off, you get “free” electricity.
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so at the end of the loan youve got 10 year old panels that are probably significantly less efficient than the tech will be by then

i feel like the best way to get solar is buy a house that has it already and the previous owner paid it off
 
Nomar06 said:
We are also thinking about a new home or maybe just adding on to ours to make it a “forever home” in the next 3-5 years. Since we are on a toss up on that, the long term investment doesn’t look too good.
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You haven't been there that long. I thought it was a decent sized house?
 
oh my it's going to happen. This is part 9! In part 10 of the friday the 13th franchise jason went to outer space!!! It's a must

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bootyluvr said:
You haven't been there that long. I thought it was a decent sized house?
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It is, but a new place would be a custom build so we can get a place that fits what we want in a forever home.

To add to our place, if even possible, would make it into a place we would stay for a very long time.
 
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