Go Into Debt For Solar Panels?!

82k. Man that would cover my electric bill for 2 lifetimes

Salesman tricked him into actually believing there was a $13,000 time-sensitive discount. Standard sales tactic.

Whenever alumni calls in I get embarrassed for them before they even speak.

I've always said if someone wants to do something bad enough they will find a way to justify it.

Why do people talk about how they love FPU and then go into "so I there's this thing I want that I can't afford..."?

Dave roasting my dude 😂🔥

People who get solar for their homes are mainly doing it for financial reasons. The problem is they’re not saving any money and in many cases they’re seeing their bills, double and triple. Solar panel sales is this centuries version of aluminum siding

I got solar in 2017, back then it generated $200 per month, Duke energy rates almost doubled since 2017, so now the offset is equivalent to $350 a month... I paid $18,000 for the system. It also powers my Chevy Volt, offsetting $200 per month in gas costs. The panels will last 30 years... I paid cash for the system.

Making $260k a year, you can save up $80k by late November or December. Get the quote, save it for reference. Then save up the cash. In this coronavirus environment, any number of salesmen will be jumping to give you a discount, especially at the end of the year when solar sales are low. Dave is right, be patient, be smart. You hold all the cards.

My solar story - I could never make solar math work. Seems to me I would just be trading paying the electric company for the solar installers all while taking on the maintenance burden. After plenty of research, I purchased 144 used solar panels and new micro inverters and installed them on a 40x80 shed. Not hard to do if you have help and are a little handy. So far our production has covered our usage and we are getting minimum electric bills ($23). I estimate my payoff will be between 5-7 years. It was a lot of work but worth it. The best part, other than no bill, is that I don’t care what happens to electricity prices anymore.

I live in Texas with a fairly new house. A Tesla system that I priced was $41k, with about 14-16k of tax credits. HOWEVER, our Texas electric coop rates are so cheap that it would take me over 10 years to break even. So I am going to wait. The technology is getting better and cheaper.

Imagine what that $80k would do in that same 15 year period (or longer) invested into a high growth ROTH 401k!! Then rethink your purchase immediately!! I wish we had that income though 👌🏻

Sounds like he flunked his own fpu class

Get multiple quotes from different installers. I am in the industry myself and on a project this large, I guarantee you someone can do more than $13K off

I installed panels but paid cash for the system. We are on our 4th year with solar with 10% a year return. I paid $21,000 before incentives for 7.39kilowatts. My system generates $1,300 a year.

Dave is so in touch. He realizes that 250k/yr is good money even though his net worth is over 50 million.

People often talk about the break even point on these sorts of things, but they never talk about the break even if you took that same money and invested it.

I’m amazed at how dumb some people who make serious bank are...

Watched this and noticed it was before the big power debacle in Texas. If I lived in Texas I wouldn't risk it, I would do solar ASAP as my state is so foolish as to not connect with the rest of the country's power grid. People died in the winter because they had no heat.