Buy Solar Panels So I Won't Have Anymore Bills?

He's not asking a question, he's telling you what he's gonna do and wants you to rid him of his guilt

Sterling got off this call and dialed the solar company..."lets lock it in!" 🤣

As an electrician I would say definitely do your research. The utility company still has to pay to maintain the grid connection to your home so even if you make more power than you consume you will still be a bill.

I found a way to avoid 100% of the maintenance and repair costs normally associated with solar installations. I took the money that solar would have cost for my home and bought stock in the electric company instead. The dividend payments are enough to pay my electric bills.

My brother in law did this exact thing and now he has a solar payment and he still has to pay the electric company.

I have solar and I love it. Before Solar, I was paying $400+/MONTH for my electric bill in the spring & fall - not even summer months when AC is running everyday. Now I have a $180/month bill and only pay electric company $36/month to be connected to the grid. That’s a HUGE savings. Once the panels are paid off, I only have a $36/month bill. Yes I financed it but it’s still saving me thousands a year and freed up that money to pay off and for other things. And you get a huge tax credit, which might not be around by the time he saves up the money.

Here in Florida you gotta watch out for the contractor/installer that takes in $$ down payments and then files bankruptcy and keeps the money and then comes back under a different name doing it again. Do your contractor research and make sure they’re going to be around to install lol. We looked into it but our home is new construction and the shingles have a 10 year warranty and anything that’s put into the shingles voids the warranty for the next 10 years so were basically committed to Florida light and power. This is another issue that people don’t look into.

Don’t forget that if you take out a loan for the solar panels and go to sell the property, the buyer of the home will need to qualify for both the property loan and the solar loan...

Solar is one of the biggest scams. A friend o mine is on the hook for a 50k system that did not reduce his bills whatsoever, the batteries barely keep his house running for 15 minutes during outages with nothing but the internet router and a couple cellphone chargers running. Get everything checked by an engineer before you agree to pay for any of this.

I like to compare solar to putting in an irrigation well. It used to cost me $300/month to water my lawn during the summer months but then I spent $5k to put in an irrigation well. Now my water bill is $50/month all year round and my lawn is greener than it has ever been. Best $5k I ever spent.

I work as an electrical engineer for a solar company. It can be a very great thing but you have to be realistic. Unless you put a lot of money into it, it can be hard to even match your bill since there are so many factors that affect how much they can produce. Another thing people usually forget to factor in is that these things are no different then any other device, they break and go bad over time and can be expensive to fix. It’s certainly not for everyone and in my opinion, should be seen more as a helping hand then something to be fully reliant on.

Wait until a hailstorm hits and wipes out those panels. Or in his area, a hurricane. Ask your insurance agent exactly how much your yearly insurance will go up, to insure those panels. Oh yea, when your shingles need to be replaced, you have to pay to have them removed and reinstalled again.

Guy called to try and pick a fight. Debt is not your friend.

Paid cash for a 9KW system. Powers the home and an electric car for less than $10 per month. tax credits for system and car charger coming this year (10K). Zero maintenance and 25-year warranty on parts.

What about cleaning, maintenance, repair, replacement and the holes in your roof? These could be annual costs.

I have friends that have had solar panels for years and I asked them if they have seen any reduction in their bills. They all said no. I don't think that anyone even considers the coat of maintenance and repair either. Even so, whenever we get a good snowfall and I see sheets of heavy snow sliding down those panels and land in their gutters-then those gutters start to sag. There's a lot more to maintenance and possible damage to having solar. I'm not on that fan bandwagon yet.

I would stay away from the solar panels. I have heard horror stories regarding them.

Selling a house with 10 year old panels is like selling a 10 year old Tesla. It's going to be a little tougher.

I got solar panels installed on home and the project with $54,000.00 We had electric bill that was average $430.00 a month. It did went down to about $200.00 with $230.00 saving, but the solar loan we have to pay every month plus interest was $315.00 a month. So $315.00 plus $200.00 was $515.00 a month! That's more than the electric bill itself. And since the loan was unsecured, I filed bankruptcy chapter 7 and got away with it. More than two years later after bankruptcy, I get to keep the solar for free and now it worth it!

I live in Arizona. If anyone would get solar, it will be us who have 360 days of the year have full sun. If you walk around ANY subdivision, less than 10% of household has solar panel. Why? It it is really save you money, why not more people have them? Think about it.