NEW VIDEO: Analysis after 4 years kzread.info/dash/bejne/Ymajz7msk7bdg6Q.html

@SpiritofAloha11

Жыл бұрын

Well, I guess this comment answers that.

@VeritasEtAequitas

Жыл бұрын

But where do the credits come from? Oh yeah, taxes. We're all getting screwed so the credits can be paid. It's wealth redistribution based on whether you're going along with this or not. Battery replacement also has to be figured in, btw

@SuitTV

Жыл бұрын

@@VeritasEtAequitas there's no batteries.

@transfattyexpress

Жыл бұрын

@@SuitTV so you draw power from the lines company at night and to gain sufficient advantage must over produce your needs during the day and thus need a bigger system than would actually meet your needs

@transfattyexpress

Жыл бұрын

@@SuitTV and thus no uninterruptable power supply or off grid independence in case of significant power supply disruption

Your spreadsheet reminds me of myself trying to justify a brand new truck purchase to my wife 😂

@pilot876

3 жыл бұрын

Lol it’s just real life. Same here 😂😂

@CorePathway

2 жыл бұрын

@@riprocop #HumbleBrag

@datsuntoyy

2 жыл бұрын

in the last year prices have cut in half. You can get 12,000KWh from a system with half that many panels now and I've seen estimates down to below $15k BEFORE tax credits.

@kgosibogosi7232

2 жыл бұрын

No man ply nice 😅😂🤣

@gusherful

2 жыл бұрын

Did you get the truck

despite all the criticism in the comments, I appreciate you sharing your honest experience for those of us trying to research this topic. 😀👍

@jeffwads

3 жыл бұрын

No one with criticism is harassing this guy for putting up this report. All of us appreciate his hard work on putting actual numbers out there. Some may be taking issue with the "conclusion", but anyone can just look at the numbers and make their own decision.

@joda8349

2 жыл бұрын

Solar panels lose 1% per year in energy generation. So at 25 years he will be at 75% of where he is now. Solar panels need to be free after tax credits so we can really start to save on the environment. They should then be replaced for with similar tax credits at year 40.

@netfolks

2 жыл бұрын

@@joda8349 But don't you see, it appears they may actually do more harm than good to the environment, or, at most, close to neutral effect, due to the materials and later their disposal. The mining alone for the materials takes huge efforts, digging, mining over large parts of the earth's surface, destroying what could be farmland or forests. Even our gasoline additive is showing a negative affect since it takes tractors so much to produce the corn to get the oil to add to our gallons of gas. All is not as it appears. We do "feel good" things that end up wrong in the end. I'm near the end of my life. I wonder how it'll turn out after I'm gone.

@tluva1020

2 жыл бұрын

@@netfolks wrong. Solar is definitely cleaner than fossils. 100% fact. Use Google. And big oil pages don't count

@netfolks

2 жыл бұрын

@@tluva1020 Solar itself, yes, is cleaner. But rarely revealed is the huge carbon footprint to assemble all the parts, the whole effect, the mining for parts. We are slowly realizing the limits of solar. It's great for low voltage applications. I still think new innovations are forthcoming. Meanwhile we should be very thankful for fossil fuels, especially natural gas.

Wow! They saw you coming mate! I built my own 6kw system with 17kw of battery power for less than £7000 recently. I have a manual switch over at consumer unit and I haven't been on grid for ages. I have no debts, more than enough power and I live in North Wales with my son. We use about 10kwh a day on average. A great learning experience at my age of 67. I wish you well however I feel that you were ripped off.

@danielpiscopo5659

10 ай бұрын

Wow. I use 10 KWH a year.

@kentclark6420

9 ай бұрын

@@danielpiscopo5659 Are you homeless?

@notyourtypicalwatchreview2563

9 ай бұрын

How long has it taken you to recoup that £7000?

@Nill757

8 ай бұрын

“Haven’t been on the grid for ages” Nice trick. The sun hours each month for Wales is well published, and no surprise at 52 deg N latitude come winter, and sun as fallen at times to less than one hour per day average ( ie full power sun equivalent hour). With a 6KW array, that’s 4kwh a day, the energy for a couple 100 W light bulbs. Batteries are great for getting through a summer night, no help at all in winter when there’s no excess to charge a thing. As an engineer I have some experience w power systems. There is the rare shack run only w part time power, but w homes it just doesn’t happen off grid, though for some reason there is a vast number of pretenders. In every case, there’s a generator hiding behind the curtain, or a fat utility cable making it work. If there must be a utility grid always ready and maintained, then society can’t afford both the grid and paydays for solar, esp when residential solar is 5x more expensive than utility solar. 7000 pound sterling might have been what you paid, but wasn’t the cost. Somebody else paid for that.

@Nill757

8 ай бұрын

@@danielpiscopo5659nice trick, that’s an LED lamp bulb, one, 3 hrs a day, and a couple cell phone charges. Of course the rest of society around you keeping you alive, just your share, grocery stores, hospitals, transpo, etc is a 1000X that.

Another thing to consider is as your panels get older they become less efficient. And technology of solar panels will also become more efficient and cost less. So you can choose to upgrade your panels BUT there is a cost for that. In other words cost and savings will always fluctuate. Homeowners just need to decide for themselves. Of course NO ONE who gets into these solar contracts will ever openly admit they made a mistake. My point is if you really want to save on solar learn as much as you can about it, purchase, install and maintain it yourself. That's where the real savings is.

@donaldkasper8346

Жыл бұрын

Estimate for our house in Southern California two months ago, about same cost and output, 25 year pay by wattage used, total comes to about $90,000. Then if you have to sell, you write them a check or new owner has to assume to agreement. They agree to "maintain" the system, whatever that means for solar companies for 25 years, assuming they are even around that long. They don't call it a product lien on the house, they call it (insert word salad here) that is convertible to a lien for the $90k, that affects getting second mortgages on the house, using its value for cheaper credit cards, etc. Now to me, the value would be to get power and use it in the house so if the CA grid drops dead with move to EV charging, then I still have power. But this is not how they work. They send power out to the grid at wholesale, and you buy it back at retail. If the grid goes down, you don't have power anyway. But, you can get a big battery for just $10,000 with 5 year warranty or it is 10, and that is enough to last you a half day. Otherwise, I have a big generator and can of gas to run freezers and refrigerators in an outage. That cost was $800.

@risanch

Жыл бұрын

@@donaldkasper8346 pretty much you screwed either way. I hate the fact that if you generate more than you need during the day it's sold to the electric company at wholesale but you have to buy that same energy "your system" generated back at retail. I've received a couple of quotes and I always tell them to quote me a systen that is way overkill for what I need so I will generate a big surplus so the electic company will have to pay me every month. They won't do it. They always tell me what I need (use). That's not what I asked for.

@donaldkasper8346

Жыл бұрын

@@risanch No, every watt you generate goes to the grid.

@donaldkasper8346

Жыл бұрын

@@risanch They have solar farms everywhere here in Palmdale/Lancaster dumping into the grid.

@donaldkasper8346

Жыл бұрын

@@risanch The real reason is that the solar supplier is a front man marketer and the system is paid for by a lender. That lender will only put out money for what you are using. That is the lien on your house, and if it ended up in court, you could sue for inflated cost valuation as it is not power you use. I doubt this has anything to do with power companies. It is an underwriter requirement of the people paying for the system up front.

I worked installing solar panels and I felt the panels were equivalent to an 8 track. I was told brand new off the pallet they would be at 80% efficiency declining over the life cycle (25 years) down to 50%. Also, for half the time in the dead of winter there is no light. If you’re not storing power (which adds thousands to the cost) you are not getting the maximum output. The problem I see is they are selling old and inefficient technology for a premium price. Technology will far exceed these panels and will essentially make them not only outdated but less efficient. Even now the have a new technology that comes in a liquid form that will change the game. Essentially turning, for example, a window into a panel. You spray it or or apply it and it creates a thin film of solar cells that can be hooked up to the grid. Some other issues, as, mentioned, is when a new Governor gets elected and changes or eliminates the tax credit. Putting on your roof is always a bit risky, meaning that you are not only adding weight but putting more holes in your roof. I used to install roofs as well. And the fewer holes you have in your roof the better you are. They are best kept on the ground. Point blank, they really aren’t worth it. When you need a subsidy to almost break even it tells me, the ones who benefit the most are the finance company, the solar company, and the power company. I wish we were at the place where they were worth the cost and maintenance but we are just not there.

@timturk1899

2 жыл бұрын

They do seem extremely inefficient, especially compared to the Patriot larger, compact emergency generator. Often advertised on YT. I think it puts out up to 2000 Watts, which seemed to take 3-4 hrs to charge with an unfoldable Solar Panel trio, maybe even 4 square panels, attached to each other, and between 2'-3'ft/square each..? Seems to put out enought much power to run longer than the time to charge it by double, from what I remember,.? Don't have the money for one, now. Hopefully these newer panels will actually do what they promised, long ago.👍💯✌️

@ChadEAult

2 жыл бұрын

@@timturk1899 one more thing to add. I was told when handling these panels, to be careful. If one cell gets damaged the whole panel is shot! My buddy who I worked for is out of Missouri and I am from Illinois. He said Illinois was like the gold rush. The tax credits are some of the best in the country. Well, growing up in Illinois, (not Chicago, west central) we are in tornado alley. We get hail, ridiculous winds, tornadoes, massive ice and snow storms. These panels aren’t made like the windshield of your car. They easily break, crack, and who knows how they hold up to negative temperatures. I am all for reuseable energy. But it’s just not cost effective, yet! These solar companies are going up against big energy companies who aren’t giving up their share of the market, yet. Some are jumping on board slowly. It won’t totally change until solar has enough lobbying power as they do. They are getting there. But I suspect it will take 25 more years, regardless of technology. At that point it will be worth it.

@shannonglover5291

2 жыл бұрын

@@ChadEAult 25 years is an extreme estimate my friend. It's already well worth it for some individuals who have the know how for solar, even at it's current technology. In 25 years, I would imagine we might be to the point of actually mandating renewable energy. By the end of this decade, you will see a dramatic swing to renewables vs our current state. The fact that individuals are having to overpay bloated prices to companies for installation costs is unfortunate, but that too will likely be corrected with more competition in the market.

@ChadEAult

2 жыл бұрын

@@shannonglover5291 extreme, maybe. I would love to see it way sooner. But if you recall, we were told by 2022 mpg would have to increase to, and I can’t recall the number, but it was a massive increase. That was during Obama. Almost a decade later, the vast majority of trucks sold get less than 20. Hybrids and electric vehicles are coming on the market, but the average person can’t afford them, so people are holding onto vehicles longer. My point here is we set these goals and then bought and paid for politicians who take massive donations and money from lobbyists then move the goal post. I would love to see big changes by the end of the decade. I just don’t believe it will happen that fast. Solar panels have been around for decades! And still they are only a fraction of the energy production in this country. It’s grown for sure, as have other renewables, but when you have politicians telling millions of people they kill millions of birds, they cause, cancer, they are noisy, and inefficient it slows progress. This is why I SUSPECT it will take longer than it should. 25 years is just 3 presidents with two terms each. Ok that is 24 years but if none of them back renewable energies than one more year won’t change things over night. I hope you are right and I am wrong. But here we are in 2022, on the cusp of a major recession and massive inflation and I could easily see this alone will hold things back for many years. However, I hope you are right.

@peteparadis1619

2 жыл бұрын

Lots of what you say is true.. If you have batteries large enough to do some good they have to be recharged everyday, that power subtracts from what you can use during the day, nobody mentions that.. One bad storm and you’re out of business as well, like IDA did to my neighbors, they still don’t have their solar panels back up.. They are best kept on the ground like you say, but that takes space away from the precious yard.. You’re right about the winter sunshine as well, here from November-February we only get 6hrs of good Sun on a clear day, and most of December-February is cloudy, WHAT THEN..?? Punt I guess.. I wish things were different but wishing upon a star don’t make it so.. Optimum areas are S.California, Nevada, Arizona, New Mexico, parts of Utah and Texas, everywhere else is not optimum..

Everything he said is why I didn't go with solar, the way I figured it, I would be just trading one bill for another.

@williampaz2092

3 жыл бұрын

I just shut off the lights in every room I’m not using, I use a single room heater at night instead of the home furnace during the winter, I lowered the temperature on my hot water heater to 110 F and began washing my laundry in cold water. My electrical bill dropped like a rock.

@juliaweber212

3 жыл бұрын

Wow I’m glad we find that out now

@ozzieosborne7676

3 жыл бұрын

So what I saw was a net gain of approx $1,000.00 a year for the 25 years with no mention of any upkeep or maintenance issues. NOT worth all the trouble.

@tomchrisfield7348

3 жыл бұрын

@@ozzieosborne7676 the up keep and other things. I was told that it would take me 13 years to break even and that the solar panels were only 50% efficient, and would have to be replaced in time, I'm to old to start now, maybe if you're 25.

@DavidALovingMPF102

3 жыл бұрын

Our loan was paid off in 6 years. We have had free electricity for 5 years now.

As others have pointed out, depreciation has to be factored in, typically a 20-yr lifetime. Also, over time the panels wear, generating less electricity (typically dropping by about 20% in 20 yrs). Inverter failure cost should also be estimated. Lastly, and potentially the biggest issue of all, is if the government and/or the electric company change the rules. Our local electric company is trying that right now, sticking users with monthly surcharges which undermine much of the potential savings. Right now, for me at least, it only makes financial sense if the system is owner-installed in order to keep the installation costs down.

@Nolaman70

2 жыл бұрын

My inverters have 20 year warranty.

@99shadows66

Жыл бұрын

@@Nolaman70 it's a 20-year prorated warranty so if it fails in year 19 you only save about 10% of the cost to replace it, the rest comes out of your pocket. No one will give you a full 100% 20-year warranty on inverters, panels, labor, etc.

@bradymulroy9162

Жыл бұрын

If your panels are degrading over 20% in the first 20 years, you bought the wrong panels in today's market. Most Tier 1 panels will only degrade .5% annually resulting in 85+% efficiency after 25 years of operation. The panels should last well over 30 years.

@johnterpack3940

Жыл бұрын

Plus hail damage, wind damage, regular cleaning to keep efficiency up... I really don't see the benefit. The one plus is that you aren't effected by blackouts.

@transfattyexpress

Жыл бұрын

@@johnterpack3940 IF you have a battery system backup. Seems pointless not to as the opportunity solar gives to be energy independent is wasted without one.

Thank you for the video. It certainly was enough to discourage me from ever going solar. Thanks again!

What’s so tough is trusting everyone to do everything for you… All the financial research takes nearly as much time and effort as studying solar technologies and procurement of your own equipment and DIY installation.

@Sugarsail1

2 жыл бұрын

they make it complex so you wont realize it's a boondoggle. If it was a true market based solution you'd be willing to buy up front and not jump through all the financial shenanigans, subsidies, tax rebates, SRECs (which just cap and trade nonsense). You're lining Al Gore's pocket.

@jefftee448

7 ай бұрын

That's great if your jurisdiction allows DIY Grid-Tie

Great video and very well explained. I really appreciate your honesty and give viewers the pros and cons.

Things may be different in the US, but here in the UK I think they are difficult to justify unless you have a good feed in tariff. We have a 4Kw system and benefit hugely from the very generous FiT the UK govt offered around 2011. But now its hard to justify the up-front cost, and it would seem solar panels only give you a warm fuzzy feeling about the environment !

@thomasjust2663

Жыл бұрын

A neighbor installed solar panels in his home (Texas), now he has leaks all over the place when it rains and the company refuses to make good on their "roof warranty" also the first couple of years he got credit back from the power company from unused energy, now that energy prices are increasing, the power company refuses to give him any credit for power he returns to the power grid, so now he pays more money overall, because he has to pay the cells, plus the electric bill, now when I see him and ask him about the cells he just gives me a sad look

Thank you for the breakdown. It can be complicated, I filled out a survey and was bombarded with offers from all over the U.S.

The second you have 6% interest its a no go for me.

@SuitTV

3 жыл бұрын

Yea that was my mistake, I should of asked why the interest rate is so high and shopped around for a better one.

@ianwatson306

3 жыл бұрын

@@SuitTV Hey man! Solar company owner here, AWESOME video. You may be able to refinance with your home mortgage. Trinity made about 25K and financiers 10K. It kind of hurts me a little bit tbh. But thankfully the SREC makes it still a win for you. Be ready for year 9 inverter / micro inverter replacement

@ianwatson306

3 жыл бұрын

Feel feee to shoot me a PM if you ever need the straight truth on a solar answer. I’m In Texas and have no skin in the game!

@autojohn-pu1vf

3 жыл бұрын

@@SuitTV At 1st I thought your video was about geoengineering, with you standing there on the roof w all those chemtrails over you! Some people live in areas that are constantly being sprayed and the performance they get from their solar panels REALLY suck!!

@SuitTV

3 жыл бұрын

@@autojohn-pu1vf haha it's usually not that bad.

If I had some extra cash, I'd start by investing in better insulation, and I'd look for hidden power wasters in my home. After that, I might do solar--not to save on power, but to lower the risk of exposure should the power grid go down. I live in an isolated area high in the mountains; and, when we lose power, our water well shuts off, we lose fans for the central heating and space heaters, and in the winters our pipes would freeze. It's dangerous to lose power in the winter. And there is always the danger of a zombie apocalypse, of course.

@richardmarcott4343

Жыл бұрын

I suggest you look into a verticle tunnel wind mill for emergency power,small efficient affordable

@Cruise1966

Жыл бұрын

You’d need a backup battery hooked up to your panels as well

@slchang01

Жыл бұрын

I'd go for a generator for the essential home functions, like well water pump, and such. Wood stove can suplement for heat and cooking during black outs...

@AjitMD

Жыл бұрын

You can build a house that consumes very little energy. Use insulated concrete forms, airtight ceiling insulation, double pane windows with insulated frames, insulated doors. HVAC using split units, no ducts. Heat exchangers for HVAC. These type of houses are built in Europe.

@peterrhines1516

Жыл бұрын

System is not going to do much unless you have a battery storage, in case of power outage.

Thanks for this video. It definitely helps out in me trying to understand how the financial aspect of going solar works. It's been a year since you made this video, how do you feel about it today? Has anything changed since this video? Also, do you have a battery pack for your panels or is it all going back into the grid?

@SuitTV

Жыл бұрын

this should answer your questions 😀 kzread.info/dash/bejne/Ymajz7msk7bdg6Q.html

I almost installed solar panels through a company offering similar arguments for savings. However when I factored in insurance and maintenance costs relating to the panels and the break-even point for costs recoveries - I saw no advantage for the installation. I was 65 at the time and noted I was likely past the "best before date" to reap any benefits from the solar panels - particularly when I reviewed the potential costs for repair, upkeep, and possible obsolescence of the panels due to new energy developments.

@Royale_with_Cheeze

8 ай бұрын

There is virtually zero maintenance for panels. If you insist on cleaning them constantly, that's your choice. Rain does that for you. As far as obsolesce goes, of course new technology will bring improvements, but that doesn't mean that the 20-30 year life expectancy of today's panels won't still reap the benefits of solar. Today's panels will produce clean energy just fine. The advantage I see to waiting is that panels of the future may be less unsightly than what we have now. Personally, I see panels on homes and I see progress towards a greener future. Some people see them as an eyesore.

Thank you for the video. It was very interesting to see the thought process that went into your decisions. It really helps out a young person like me who’s going to have to start doing this stuff soon one day. God bless you!

@secretsquirrel6718

2 жыл бұрын

Heres a nickles worth of free advice. Stay out of debt!

@GodsQ

2 жыл бұрын

@Liam Healy I think you will do well, because you're a thinking before person. BEFORE is really the time that matters. And you can research amazingly almost anything on youtube, and the internet. It is a blessing to see and hear others experience. Try looking at some of the survival or bush type ways, because you can do many of these things without all these big companies that will just try to "jack" you. It just depends on what you're willing to do, or have someone else do. But the smartest thing you have already done, is putting GOD in the equation : > GOD Bless YOU.

I have had solar panels for ten years. I live in Georgia. In the beginning Georgia Power was paying me seventeen cents per KWH. But that only lasted for five years. About three or four years ago GP told the Ga. public service commission they wanted to end that program. Naturally the PCS agreed and GP cut the rate to 3.7 cent per KWH. I could go on and on about hidden cost of solar, like getting a 1099 every year from GP, then you had to add the amount of power you produced on to your income and pay tax on it. Plus there’s a lot more. Bottom line is Solar Panels will never pay for themselves.

@tygoulding2547

2 жыл бұрын

Geez that’s messed up. Pay taxes on something that the government incentivized you to get.

@cammontreuil7509

2 жыл бұрын

This global warming. And we get penalized if we do our part. Government against us on both sides no matter what we do.

@johnwilliams4806

2 жыл бұрын

All the info I’m seeing going solid is not worth the pain … I mean sure if you look at it 50 years from now but no it seems like a bad buy unless you have a lot of money to just buy them and save some but for the average person it don’t make sense to lease them and pay all this cost every time you turn around it’s something else …👎

@AhJodie

2 жыл бұрын

Thank you!

@dadnovak9099

2 жыл бұрын

This is exactly what I needed to see. I get the point behind going solar. But man it’s so expensive still and just doesn’t make sense

Thanks. What happens when you re-shingle the roof? Do you have to dismantle the panels and racks for the roofers, then re-install everything?

I think he went into very good detail. I like the enphase system. I'm 46 and my house is paid off now. But at the time of install, it was cost effective to do cash. But if I had to finance, it's not worth it to me. Glad you get srec

A very good outline of how solar works for you and us! While I'm no expert, a variable that concerns me regarding making an investment in solar is panel/equipment life. If they don't last and need replaced say for example in 7-12 years , well you see my question. Great job in any event and thanks!

@SuitTV

2 жыл бұрын

That's the most common question I get. the panels are guaranteed to produce a certain amount per year. See the Google doc in the description for the numbers. It will never fall below 85% within the 30 years which isn't too bad. All repairs are done for free by the company.

@TheBoxster1998

2 жыл бұрын

Some comes with 25 year warranty..so, there you go. Find the one that offers at least 20-25 year warranty

@larrybe2900

2 жыл бұрын

@@SuitTV So should you not take 15% off your numbers since the guarantee is 85%. Anything more is just a bonus. Correct?

@Mike-gt1cs

2 жыл бұрын

@@SuitTV . . . and if that particular company goes out of business after making a butt - ton of money, BEFORE they have to start replacing large numbers of solar panels, what then . . . ?

@SuitTV

2 жыл бұрын

@@Mike-gt1cs that's why I went with the largest provider in the north east. They are doing just fine. But yea if the company went bankrupt then there would be no more guarantees or fixes for free.

In Florida, home insurance companies now want a new roof at about the 15 year mark, some won't insure a home with a roof over 10 years. So, solar is no longer an option due to the cost of removing them, put up a new roof and then reinstall them. I would like to see some more efficent solar panel system that is not mounted on the roof but could be used to power part of a home's electric requirements. Nice review of your system.

@donaldkasper8346

Жыл бұрын

You put in a ground array installation. I never heard of 15 years roof replacement anywhere. Does not exist in California. Why? Hurricanes? If you have a shingle roof it may leak after 15 years, but ours is flat concrete tiles.

@thawrath9306

Жыл бұрын

Some backyards would be big enough to install the panels. It'd also be easier to keep them relatively clean. And nobody ruins your roof with a bad installation!

@chriscampbell3279

Жыл бұрын

Hello brother, 2 things.... In rural AZ, I saw small, high quality, pole mounted arrays next to big homes. I'm in Dallas, lots of solar panels for water and power but much larger arrays overall... Secondly, a roofing contractor should be able to install threaded studs or brakets sealed as part of the roof. Panels should be fitted on a rack to accommodate necessary points of attachment without roof penetration by the solar [re]insulation.

@Theutus2

Жыл бұрын

@@donaldkasper8346 hurricanes are the excuse, yes. I had 30 year rated shingles on my roof, at the 15 year mark with no damage I was uninsurable until I replaced my roof out of pocket. The year prior to that the only insurance I could get was the state run insurance, Citizens. Right now Citizens is the "cheapest" insurance I can get, $2,000 higher than when I purchased in 2013. We haven't had a hurricane in my area since 2006.. my new roof has 50 year rated shingles, which I'm told won't matter and will probably need to be replaced in 15 years. It's gross.

@donaldkasper8346

Жыл бұрын

@@Theutus2 Shingle roof, I would cover it in chain link fencing and screw it down.

This was very informative and I appreciate the way in which you analyzed the financial benefits. Did you consider using a discounted cash flow to account for the cost of money in the out years? And would the analysis show the same present value of projected savings? Thanks!

@jesse75

Жыл бұрын

What ? No one is commenting because of the nomenclature.

I live in Georgia, and my house was/is also a good candidate. However, the total cost of the panels to be added was $20K (approximate).... and the value that it brings to your home is about 4.1% -- according to the internet. My home is ~$250K, so that raises the home-value by $10k. Spending $20k to get a $10 boost in value doesn't make sense. BUT... the amount that I save each month from the local power-company is.... about the same cost as the monthly payment for the solar panels. Now there is one factor that I'm leaving off: _what if electricity rates go up?_ They *will* go up, but when, and by how much? That's an unknown.... but will it be enough to off-set the $10k gap? Maybe.... but how long will that take? Will I still be in this house at that time? Bottom-Line: *There are too many variables to say with confidence either "Halt" or "Proceed" with solar-panels. BUT, I can say for absolute certain that if you believe you will be selling your home within a few years, you will NOT be better off financially.* One other thing: the company that was providing the quotes and service does not include any sort of battery with the home. You'll only benefit during sunny days, with essentially no benefit at night or cloudy weather. A "house-battery" *can* be purchased and installed, but it is also much more expensive to do so. And it is *not* possible (where I am) to "sell-back-excess-generated-electricity-to-the-grid". The only way that I figured I could make this make sense was literally to mine Bitcoin. Otherwise, solar is *not* a good decision for people in a situation similar to mine.

@SuitTV

Жыл бұрын

Nice analysis. I agree with most of it, especially with not getting it if you plan to sell soon.

@victory6468

Жыл бұрын

Think of it like this, your house's value increases by 0% if you stay with your electric company, and since you were supposedly paying the same for solar as your electric bill, you get a free $10k boost on your home value while paying a fixed rate that'll never increase

@TROOPERfarcry

Жыл бұрын

@@victory6468 You can't sell your house if you're making payments on the solar panels... unless you have the solar-panels removed. Obviously the home can be sold *with* the panels if the solar-panels are fully paid off. If you get ready to move and you're still making payments, it will cost a hefty amount of money to have the solar-panels removed. Same answer as before: if you're planning to sell within about 6 years or less, the panels *do NOT* make sense.

@kentclark6420

9 ай бұрын

Actually you get more energy during cloudy days with the panels.

Great information. It does sound like you got screwed by the solar company though. A LOT of these companies have insane markups on both hardware and labor.

@freebird7328

3 жыл бұрын

Plus 6% interest too dang

@kbob8424

3 жыл бұрын

Not really, I've seen allot worse here in my area.

@rwdturbo

3 жыл бұрын

Could have Built himself for 10k?

@kbob8424

3 жыл бұрын

@@rwdturbo - not really.

@daizhanennals1485

2 жыл бұрын

@@rwdturbo This is what I thought too, it sounds like 10-12k at first, but that's panels. Plus transformers, converter, then tie them to grid power, and to your at home electronics safely, and the racks to hang them. The labor, and maybe insurance for regional weather? Hail tornado, 🌪, other things homeowners insurance maybe hesitate to cover.. ect. For sure it can be done cheaper but to what ends? maybe 15k over 30 yrs? Maybe?

super insulating the home would have been money well spent. i just don't see the benefit of solar. 25 years is way too long for any contract. technology is moving much faster than that.

@SuitTV

3 жыл бұрын

Yea but I'm saving 1k a year...

@Bubba87

3 жыл бұрын

@@SuitTV You saved $80 a month in exchange for a 25 year contract. Nothing about that is worth it. Like the OP said, tech moves way to quickly. Sorry friend, you got scammed.

@feversol

3 жыл бұрын

The more troubling calculation for me is the reliance on government supported SREC. As you said, without that, the installation wasn’t cost effective. The local government could easily change/remove that rendering the installation a great idea that isn’t financially viable.

@SuitTV

3 жыл бұрын

@@feversol the government wouldn't remove them, however the price can fluctuate depending on demand, so I'd say that's a bit more of a risk.

@rh6625

3 жыл бұрын

@@SuitTV No, your neighbor is paying you $1,000 a year so you can feel like you are saving. money. Maybe the neighbor will put gas in your tank every week and you can save that cost too.

Greetings from your neighboring state Delaware. Thanks for going through the numbers and discussing. I'd also be interested in hearing about efficiency, maintenance cost, and what happens when the panels get damages. All the best and blessings be.

I would install all my own solar system, myself. If it requires licensed contractor, I would hire a local contractor and be on the job everyday for the week or however long it takes. Forget about any credits, forget about selling back power to the state, etc. This solar is getting way out of hand and turning into one big scam. Unbelievable. It should be as simple as: Buying, installing the panels, batteries and charge controllers. That's it. Free electricity!!!

@mixerguru

2 жыл бұрын

my feelings exactly cant get a straight answer

@Tweatie88

2 жыл бұрын

This!!

@thecommentwhisperer4360

2 жыл бұрын

it won't be free. its about money and controlling the population. you will pay taxes on the "free" solar energy produced. you will not own your own panels and the government will control how the electricity produced is allocated. that's right you'll be making free solar energy and you will pay for the install and you will still pay taxes or a fee on what is produced and you will have no rights to the electricity produced.

@scottnorris5683

2 жыл бұрын

@@thecommentwhisperer4360 there's videos of people who install there own panels and solar equipment themselves, lol but I know what you are saying. They will go door to door in the future. They will put all kinds of rediculas conditions or pay fines, etc. I'm not blind to what's coming.

@thecommentwhisperer4360

2 жыл бұрын

@@scottnorris5683 people think the powers that be are going to just let people produce their own electricity and be energy self sufficient? They'll never let it happen.

Went around town yesterday and talked to 5 different people who had gotten solar and 4 out 5 had a good experience. The worst case was the installers didnt do their job right and there were leaks and worse than that the panels weren't producing the electricity they were supposed to. This is all covered by the company and should be fixed soon. However, the best case was a guy going from a $600 electric bill to a $340 solar bill. It was quite a big house and they have had solar for around a year and a half and plan on keeping their rebate. The other 3 had saved anywhere from $40-$100 every month and they were average sized homes. This is in Texas for reference

@SuitTV

3 жыл бұрын

I'm glad to see it's working out for them too. Thanks for sharing

@tsicby

2 жыл бұрын

If you're under the impression that they don't pay a monthly bill for electricity from the grid, you should get that thought out of your head. In addition to their "solar bill" which is mostly interest on the financing of their solar install, they are also paying a monthly power bill to their power company. Solar power only makes up about 45% to 50% of the average household's power needs when the sun is shining.

@senseirbw2395

2 жыл бұрын

@@tsicby you don’t know what you’re talking about. Some companies do 50 percent of your average usage while some do 100 percent. It’s all about what the customer wants. Also, having your solar connected to the grid means the grid takes your power and gives it back to you during hours sun isn’t shining. It only takes 5 hours of sunshine to gain enough energy for a full day. We take your average usage for past years of your home and use that information to calculate how many solar panels need to be installed. As for the bill part, you will only have to pay what your solar doesnt cover on high usage months. And when you have excess energy they will actually pay you. It’s important to go with a trusted company that doesn’t over estimate your energy usage and gives you a proper estimate.

@senseirbw2395

2 жыл бұрын

@@tsicby also the bill stays at a flat rate for the whole plan. More than likely adjusted to be lower than your average monthly bill where the seller can still make some sort of profit. Question, do you think your current electric bill will go up or down over the next 20 years? With inflation going the way it is you will be paying more than double by the end of the term. It is great protection from inflation

@loganmclean6510

Жыл бұрын

@@tsicby LOL bro what have u been smoking

Great job. We are new to this and we are shopping around. Very informative and we are very appreciative of what you had done.

@allen4353

3 жыл бұрын

Each state has different incentives. Where I live the power company gets a tax incentive that they pass on for the first 5 years. For me that was over $3,000 each year. Then the state changes the incentive by cutting the amount in half and doubled the years for new solar installs. My payback with tax credit and state incentive and savings on usage looks to pay back the full cost in about 8 years. Your state may be different.

@kbob8424

3 жыл бұрын

Hey Panda, where do you live? I do solar consulting. Let me help out. Before you sign anything let me look over the proposals. I'll tell you if you're getting a fair deal. Best of all, I won't charge you. I'm just tired of people getting taken and giving the industry a bad rap. Check out my other comments/replies here on this video. Let me know, I'll send you my contact info.

This is a well put together video, thank you very much for your work!

Good job. Very straightfwd. I have a similar 31 panel array on my barn roof in upstate NY. Similar result... investment only works with a hefty Fed and NYS subsidy. In NY, the SREC equivalent is provided up front as a lump sum tax credit.

The global warming part is classic- the amount of carbon it takes to make all the panels, inverter etc is massive. Combine that with the old panels/inverters that are no longer compliant or cannot take battery inputs, being thrown out to take them, and the carbon footprint is, as they say 'yuge!

@plinkspot8750

10 ай бұрын

Don't comment about carbon footprint if you haven't read various studies on the matter. From mining right through to final product solar produces 12x less carbon than natural gas and 20x less than coal. Only hydro, nuclear and wind produce less carbon g/kWh

@moisty254

10 ай бұрын

@@plinkspot8750 how's the solar and lithium mining going for the environment you're so clearly worried about?

@plinkspot8750

10 ай бұрын

@@moisty254 I'm no greenie, just stating the facts. Mining impact was included in the studies.

@moisty254

10 ай бұрын

@@plinkspot8750 well then don't comment if you are a massive hypocrite. Pretending to care about the global warming fairies while the planet turns to a gigantic brown smudge from the mining and waste of those "carbon neutral industries" 🤣

I built my own and I did it off grid. A lot cheaper, also I learned a lot. Just wish I’d known back then what I know now. It would’ve been a more efficient and less costly. But I can’t complain, as I didn’t pay anywhere near your costs. Mine was closer to around 15 K. I knew absolutely nothing about solar or batteries or electricity, but I had an interest.

@benjones8977

3 жыл бұрын

@@j.bridges2921 First I came from lead acid batteries and charge controller and inverter. So if I went straight to lithium, I would’ve saved money on that side. Also it’s important to understand charge controllers and solar panels, in order to maximize your PV panels for the right charge controller. The better understanding you have, the less you’ll spend. Then there’s the batteries, and overall your choice of whether to go 12 V, 24 V or 48 V. The higher the voltage the better the efficiency and less cost in losses. So understanding how to wire for the efficiency you want is critical. I learned that the math in finding your ratio of batteries to solar panels is critical also. So understanding how many batteries you need and solar panels for your specific situation. So I suggest you learn how to calculate watts, voltage, amps. This was one of my biggest downfalls, as I don’t know my math that well and there aren’t many videos or articles explaining it that well. I would start with basically three times as many batteries/watt hours or kilowatts as PV panels. I would start watching Will Prowses Channel. People need to remember there are so many variables, like wire size, fuses, busbars. Switches to turn off the battery power and PV. It all has to be done in the right sequence or you can damage your charge controllers. You also find out the voltage is more important than watts. I think it’s best to find somebody who’s done it and learn as much as you can from them. There’s so many things I didn’t know and had to learn as I went along. And example would be wiring your inverter first before connecting to your batteries to avoid sparking. Getting a tiny capacitor to avoid sparks. Like I said there’s a bunch of little things you need to understand before jumping in. But on the other hand if you wait for the perfect moment you will never do it. That’s why I started small and kept adding as I went along. The one nice thing about solar is you can add as you go. Just remember if you are going to do that, buy the biggest inverter at the highest voltage you can or you’ll just have to parallel another inverter and it will cost you more in the long run. The importance of knowing how to wire your PV panels to charge controller to get maximum wattage and still be under the voltage maximum. Anyway I’m probably confusing many here, so like I said read up and watch as many videos as you can, or better yet find somebody who’s done it before.

@BC-hc5dq

3 жыл бұрын

@@j.bridges2921 He would have left it to the pros. 😁👍

Very informative! Thank you very much for sharing your experience with us!

THANK U! In a 100% black out situation and without acces to sun rays (Gray clouds etc) How many days can your backup battery run your house in this situation? And can you obtain a bigger battery For additional days? CC

40 grand for that system seems way too high...should be more like 16k to 20 k

@SuitTV

3 жыл бұрын

With the tax incentive it's really like 28k for the system. But agreed, since I bought back in 2018, prices have dropped considerably and you can get a better deal now.

@kbob8424

3 жыл бұрын

It's actually a fair price. 34 panels is about an 11kw system right? That system in my area would sell for about $50k on up. The problem is, to generate 12,300 kw per year in your area it requires allot more panels. Down here in the south, you can get the same production with about 20 panels. It would cost more per panel but lower overall. Thanks for posting.

@nathanfleming1051

3 жыл бұрын

Who's gonna want to buy the house later though with old panels. You will spend that $26000 to redo your roof cause the buyer don't want them or wants them replaced. Your storage cell replacement is another cost. Let alone if your roof needs repair to take the panels off and put them back on. Massive snow storms seems like it would be a head ache. I'm not sold at all. Good luck.

@norwegianblue2017

3 жыл бұрын

@@kbob8424 What region does he live in? The sunlight does look pretty soft compared to southern California. I would never have bought a solar system unless I was in a very sunny climate.

@kbob8424

3 жыл бұрын

@@norwegianblue2017 - he's up in NJ. You need twice the size system up there.

Live and learn young man, we all make mistakes. I also think you got abused by the solar company and the bank. Are you kidding me, 6% for 25 years, that's worse than the mortgage for the house it is attached to. And how about the batteries for storage? They won't last as long as the panels will they? They are one of the most expensive items to replace. So you probably could have gotten a better deal with some good advice from a knowledgeable person but that is water under the bridge now. The bottom line is that the payment isn't much more than you would be paying the electric company, so something you can live with. Chalk it up to a learning experience and ask for opinions beforehand on the next big purchase. And beware of any sales person who says they are there to help you, no mater what they are selling. They are there to make as much money off you as you will let them. Knowledge is power.

@truthseeker1833

3 жыл бұрын

I dont think these solar systems have battery banks. They are hard wired straight to the meter. So when the sunshines you could sometimes put energy back to the system to where the electric company owes you. However it never ends up that way. If this system doesn't produce enough energy on cloud coverage then youre still tied to the grid. I would never buy this system

@Gruuvin1

3 жыл бұрын

No batteries in a grid tie system (which also means that when the power goes out, you still don't have electricity, even though you have $60k of PV sitting up there). The output of the panels degrades year after year, so in 25 years they won't be anything like current technology.

@Gruuvin1

3 жыл бұрын

@Jimmy Riddle What some electric companies pay you per kWh of electricity you supply to the grid, vs what they charge you per kWh you consume from the grid, is about half. You pay all that cost to produce, they make just as much as you do. The grid is expensive, so they deserve to make something, but it makes more sense to store into batteries enough electricity to keep your home powered for a couple days, if the grid goes down.

@Gruuvin1

3 жыл бұрын

@Jimmy Riddle to me, solar panels + mega-storage makes sense where the grid is not available, too costly for hookup, or too unreliable. Also grid-tie (no storage) makes sense only if the power company pays a reasonable price per kWh and you can build your solar panel array for a low cost. The government stepping in and manipulating the market by forcing taxpayers to pay part of the bill, is total bullshit!

@annpi1961

3 жыл бұрын

No doubt.... wonder what dirty politician owns shares in these companies screwing people then giving them credit with taxpayers funds. Global warming my behind. He got had.

It is almost similar here in Calcutta, India. Even in best case scenario it will take 7 - 8 years just to recover the installation cost. Then there will be maintenance, specially of the batteries. Which will make cost recovery even longer.

@bbbae5968

Жыл бұрын

Are the batteries considered hazardous waste when no longer usable?

@chrismaxny4066

Жыл бұрын

You don't need batteries for a grid tied system.

@DavidJohnson-bl4ps

Жыл бұрын

Manish, batteries are not needed, and in fact are not a good financial investment yet. However Solar panels certainly are very valuable for 25 - 30 years. I am in Sydney Australia, my 5.5kw of panels paid for themselves in about 5.5 years. so for the next 20 years at least I am paying reduced electricity bills, and reducing my carbon footprint, which is negative with respect to electricity. Then the panels can be recycled. There is no downside at all.

@NightWolf-vv5me

11 ай бұрын

Who said the electric company's program is the only choice? Seems scammy. Get your own solar panels and go off grid.

@kentclark6420

9 ай бұрын

But after that, it's all profit. No more energy bills.

SuitTV has started a great discussion about the pros and cons of purchasing a solar voltaic system. He has been gracious in welcoming all comments, including critical opinions.

My thoughts are, when you have to redo your roof shingles. You will have to remove all that hardware.

@richarddrum9970

3 жыл бұрын

Ouch, that is a really good observation.

@rollydoucet8909

3 жыл бұрын

The contracts stipulate that you maintain the panels for a predetermined time period. During that period, you are completely responsible for them. You can't change your mind, and remove them, except to repair or replace your roof/shingles, then the panels must be returned to the roof, as the contract states. Should your house ever have a fire emergency, the fire departments will not direct water at anything that is electric, so your house burns while the firefighters ensure that nearby structures are protected. This raises issues with home insurance providers. In our part of the world, the hydro generated is fed to the grid, meanwhile we still buy hydro from the utility company, and any money received from the hydro company is considered revenue and is taxable. Then, we have to consider that not every day is a nice sunny day, wintertime means shorter daylight hours and often snow-covered roofs or solar panels. So, are solar panels good? Yes. Are they cheap? No. Are there any problems to be expected? Yes.

@juliaweber212

3 жыл бұрын

@@richarddrum9970 exactly

@RussCR5187

3 жыл бұрын

If you get lucky (like I was for a brand new house) the panels were installed at the same time as the shingles, and they have similar lifetimes. So they might naturally be replaced at the same time. But that's for the next owner to worry about. I'll be dead by then.

@DavidALovingMPF102

3 жыл бұрын

As I recall, everything comes off except connection boxes , a 4x4 box where wires go into the attic. These are at each end of a row of panels. I think they were lifted up and then re-rtv'd,screwed onto new roof. Our yard is big enough to have the panels on poles in our side yard, but they would have blocked the view of the mountain, and no room for future sheds. We also got rid of the swamp cooler duct (plenum?) that the swamp cooler sits on. I had removed the cooler myself years ago when we switched over to refrig. air and left the duct covered. Now we have more room for more panels.

We had quite a bit of snow fall in our area in the past Month. Have you had considerable snow and how did your solar panels faired?

@DavidALovingMPF102

3 жыл бұрын

Here in New Mexico, we have quick snow storms. If the street snow melts, then our panel snow melts too, and it slides off.

@georgeh9967

3 жыл бұрын

@@DavidALovingMPF102 lucky you. NJ has a slightly colder winter with lots of snow covering the panels. snow covered panels dont produce.

@francescosisto7131

2 жыл бұрын

@@georgeh9967 I am in Connecticut, snow on roof really doesn't last long, maybe a few days, i really don't see it a big problem

@cammontreuil7509

2 жыл бұрын

Panels work better in the cold. Blow the snow off or push it off.

@larrybe2900

2 жыл бұрын

@@cammontreuil7509 Panels operate better in the cold as you said but the angle of the sun is lower so there is not as much direct rays reaching the panel. There are roof rakes available (plastic blades) that takes the waiting out of clearing off with a little effort. To be efficient one has to be proactive in this endeavor.

Thanks for the information. Do you need to go up to your roof in the winter to clean snow off in NJ? I live in CT.

@SuitTV

Жыл бұрын

I've never once wiped snow off or cleaned them. The cleaning isn't necessary imo and obviously not worth climbing up there when it's icy ha

@rjayt88

Жыл бұрын

@@SuitTV Thanks for your help.

Thanks for the video. Did your calculations factor in degrading performance of your panels over the 25 years? And does this feed into the Sracs that are generated as the system degrades in efficiency?

@SuitTV

Жыл бұрын

No they did not factor in the degrading performance, but it's not really a huge factor considering they will be at 85% after 25 years. Also I did not factor in the rising cost of electricity over the years so it kinda counter balances

@Aaron-xr7oc

Жыл бұрын

@@SuitTV I feel like in 25 years solar technology would be pretty advanced and even cheaper as we lean more off non renewable resources

@SuitTV

Жыл бұрын

@@Aaron-xr7oc probably. That still doesn't stop the fact that I'm saving $1k a year though

@tee3385

Жыл бұрын

Did you factor in the fact that electricity will continue to rise and it directly correlates with gas prices that have nearly doubled in the last year? In my area we’re seeing a 36% increase in 2 years. I know a guy with 30 year old panels they did require service twice during this period but they still produce power and have paid themselves off quite a few times!

@SuitTV

Жыл бұрын

@@tee3385 no I did not factor that in to the equation. I will in my next video. That's even more financial reason for getting them.

He’s trying to convince himself he didn’t get taken.

@kbob8424

3 жыл бұрын

Na he did fine. He's not giving his money away. Would you rent a car instead of buying one? I mean besides the car payment you have to insure it, put gas in it, maintain it and eventually it'll break down, you'll have to fix it, only to buy another one in 7 - 10 years and start all over again! But people do this with no problem. Energy prices will continue to rise but hey someone has to pay them right?

@MarkAdrian4RealReal

3 жыл бұрын

Yeah. He is trying to justify his wrong decisions.

@LOBOIV

3 жыл бұрын

Even if his electric bill gets to the point where he has a $0.00 bill every month, he still has a $260 per month payment for 25 years for the solar panels he installed on his house. He got jacked.

@kbob8424

3 жыл бұрын

@@LOBOIV - he applied the credit towards his loan. That kept his payment at $180. In 10 yrs electric rate avg will be more than current $180 avg but he'll still be paying $180. In 25yrs monthly avg will be WAY over $200. At that point he won't have the solar payment. Plus in 25yrs you would have given the electric company over $60,000 with NOTHING to show for it. It's like renting a house for 25 yrs then moving out. Who would want to waste that amount of $$?

@jimlee3830

3 жыл бұрын

Might last 15 years

Thanks for the video and straight forward numbers. Sure this helps a lot of people decide wether or not it is time for them to jump to solar. Regardless of the opinions stated, everyone used your video to make an informed decision. One of the best points was the fact about trees. I live in Florida, but trees here grow 100’ to 120’ tall and shade everything. Well done video, thanks.

@Diana1000Smiles

2 жыл бұрын

Not "everyone". I prefer Wind, and, believe me, Montana has winds. I nearly lost my head the other day.

@larrybe2900

2 жыл бұрын

Some trees may not be on your property and out of your control.

How long does that system last before you have too start over . And how much more does it cost too replace your roof when it leaks

If you have to replace your roof shingles how hard would it be to remove and reinstall the solar panels

Thank you for the detailed explanation. Is there any annual cost for solar maintenance/upkeep? Or is that already factored in? I only use solar on my backyard shed -- to keep a trickle charge on my lawn tractor and for the shed lighting (a lot cheaper than running power to the shed).

@danzervos7606

2 жыл бұрын

The typical roof lasts 20 to 30 years. Do solar panels extend roof life, have no effect, or shorten roof life? What is the extra cost of replacing a roof with solar panels?

@larrybe2900

2 жыл бұрын

@@danzervos7606 One wonders if some of the facts offered here given upfront if they would sell any systems?

@paulmetoyer3695

Жыл бұрын

IF THE SYSTEM IS LEASED YOU PAY NOTHING FOR REPAIRS. IT’S THEIRS TO MAINTAIN.

@AkioWasRight

Жыл бұрын

They require regular cleaning. Snow, dust, moss, leaves... Any buildup will reduce the collection efficiency.

@larrybe2900

Жыл бұрын

@@AkioWasRight Depends on the location. Snow for sure but on the plus side snow cleans off the glass surface. Rain takes care of dust. The glass surface is not conducive to moss always in the sunlight and if leaves on a roof mounted system are a problem then trees are too close to afford max production.

Without the subsidy, your roof is just covered with very expensive photovoltaic cells that are not cost effective and your power reliability is still based on the baseload generation in New Jersey. As they go off line, and they are (think Oyster Creek, for instance), you are going to have to learn how to live in a state with a third world power grid. Best of luck.

@jameshumphrey3425

2 жыл бұрын

Explain more I’m confused, his power reliability is based on the the generation of NJ? I thought having solar panels meant you’re disconnected/not drawing any power from the city. Thanks in advance

@boydgrandy5769

2 жыл бұрын

@@jameshumphrey3425 That would be incorrect, James. The solar panel system also includes a substantial battery installation (solar cells produce a dc voltage, the value of which is dependent on the strength of the sun light, the square footage of the panel and the cleanliness of the panel. If you choose not to have a battery system, your solar system will convert the dc power directly to house current (240/120vac). If the power level is high enough to run your house, the solar system will switch out the incoming grid power source (this can be made longer with an installed storage battery, which will run your house until it is discharged). If the demand on the solar system exceeds its capacity (not enough sunlight or the battery is discharged) , the system will automatically switch itself out of the house feed and reconnect to the grid. Really high end systems can stay connected all the time, and if you make more power than your house needs, it can monitor the power sent back out of your house to the power pole (grid). This is the part that the salesmen pound on. Unfortunately, depending on the square footage of your array, that may only result in a a few kilowatt MINUTES* per day. the same concept applies though; your meter will record that at least some or all of the power needed for your house is supplied by the grid, more at night or cloudy days (you get the point, right?). *power is sold per kilowatt hour. A 2000 square foot house will use about 32 KW Hours per day.

@jameshumphrey3425

2 жыл бұрын

@@boydgrandy5769 so basically a solar system is just a fancy generator that either produces, enough or to little power and depending on the outcome you’ll still pay conventional electric bills or sell the extra output back to the city?

@bankerjew3262

2 жыл бұрын

If you buy just the solar panel's you get energy, how can you store this energy without a battery? If you gave no battery then you're on two systems the city and you're solar panels you can't go off you're own power because you have no battery if you did then you can live off grid if the energy is enough, without the battery it's just trying to cut dollars out of you're bill not replace you're energy needs

Did you factor in the months when snow covers the panels since you live up north?

@SuitTV

Жыл бұрын

Typically the snow melts within a couple days.

Like the idea of solar but every single sales pitch I've heard suggesting that the return on investment is worth it depends on the net metering or energy buy-back. Given the pay-off of most systems is designed around a multi decade ROI it's too risky IMO when none of the buy back programs are guaranteed and can change anytime your electric contract is up for renewal. That variable is just too flexible to go out on a 10s of 1000's of dollar solar limb.

@NightWolf-vv5me

11 ай бұрын

Well noone told you to sign up for the electric companies program scam. Buy them yourself and go off grid

@CajunJosh

11 ай бұрын

@@NightWolf-vv5me my comment is referencing the sales pitch offered by each company and 100% of them to use buy back programs to justify the "solar savings"

@masterscaron

8 ай бұрын

Most people start saving money the very first month due to the panels reducing your electric bill down to the $10 interconnection fee, and replacing it with a solar payment that is either the same or lower than what you were paying previously. Add to that the Solar payments either don’t increase at all, or increase by a maximum of 4% per year if you’re on the high end, it a no brainer to switch away from the utility company, which is a monopoly and raises rates every year at an average of 6%. Add to that once the system is paid off you receive free electricity and you have people saving tens and sometimes hundreds of thousands of dollars by going Solar.

@CajunJosh

8 ай бұрын

That seems to be situational. In Texas we can chose from a long list of electric providers so we can typically shop around for electric rates that are far lower than most of the country. In addition to the initial cost of the solar system you've now increased the cost of a roof replacement which will likely happen around here every 10-15 years. Solar systems that I've seen are only warrantied for 30 years so they would need to pay for themselves and pay for their removal / re installation when the roof needs to be replaced in order to make sense. Hopefully as time goes on they can make more energy dense panels so installation and overall costs come down.

@masterscaron

8 ай бұрын

@@CajunJosh they’re warrantied for 30 years and it only takes 12-25 to pay them off at a lower monthly bill than the average electric bill. You’re right it is most definitely situational but in most cases people are able to eliminate they’re current bill to the utility company by goin Solar and simply replace it with a lower payment for the solar panels that either never goes up or only goes up by a maximum of 4% per year, whereas utility companies will continue to raise rates every year, usually multiple times per year, by as much as they want, and as more people take advantage of going Solar those utility prices will only go up faster. Add to that that the upfront cost of going Solar has been removed for people who qualify and it’s a no brainer to take advantage of it. People are just unfortunately usually fairly low iq and unable to compute these types of variables in their head, so they just choose to pay more to the utility companies at 100% interest than even think about the fact that Solar will save them tens and sometimes hundreds of thousands of dollars.

A few thoughts here: 1. The SREC's went down from 15 years to 10, and he based his calculations on 15, so the math doesn't appear to work on that level any longer for potential new buyers of solar panel systems in this context, as SREC's were the key. 2. What's the cost of maintenance of the panels? 25 years is a long time for any system, especially the batteries, to go without any maintenance. Things break or wear out, and New Jersey has a tough climate. Given how expensive the system was, any repairs over 25 years would likely wipe out the savings he's articulating. 3. What about roof shingle replacement? 25 years is usually beyond the effective life of most roofs, assuming he put these on a home with a brand new roof. I would think the added cost of removing the solar to install a new roof when it has to be replaced, then putting it back, would cause the roofing costs to skyrocket. Same would be true with minor leaks. How would a roofer access for diagnosis and ultimate repair without huge costs associated with the panels? 4. For this to work you'd also have to know you're staying in that home for 25 years. How many of us actually stay in a home that long on average to make these deals even remotely justified cost-wise? 5. Finally, isn't it nice that non-solar home taxpayers who aren't oozing money to fork out for solar panels are nonetheless subsidizing the home power costs for those who can finance the huge cost of inefficient systems (cost-wise), all for alleged "global warming" reduction? Further, the actual "global warming" savings may be nil or negative, when factoring in the fuel expended on mining the raw materials, transporting them to steel mills or similar facilities, and then manufacturing all the components of the solar panel system in the first place. While this guy did a very nice job discussing the process, it doesn't seem we are technologically there yet so as to justify these systems. As is so often the case, as soon as you find you have to inject large amounts of taxpayer money subsidies, you can be almost certain it's not the best route to go. Yes, sometimes we have to go that way to get new technologies going, but solar doesn't appear to be the best route right now. Still, very interesting video, enjoyable to watch, and well done.

@reid1boys

3 жыл бұрын

when he did his deal, he could sell for 15 years. 10 years would be for people that NOW install solar.

@thomasbaleno5822

3 жыл бұрын

In addition to reclamation. Have there been any studies about how black solar panels absorb heat and don't reflect it away, thus causing the earth to warm? The technique is used in may green homes to heat houses in the winter.

@lawtonsegler1923

3 жыл бұрын

Thanks for your sobriety.

@cammontreuil7509

2 жыл бұрын

@@thomasbaleno5822 heat water for pools too.

@jacintodelgado2828

2 жыл бұрын

Good Rebuttal, you are right. so many other costs involved with ruffing, repairs, and maintanance,. In the End When You Break Down The Economics Is it Actually Worth it? I don't think so...

Good explanation of your plan! I live in Az and hear crazy stories and don’t know who to trust..

Thanks for sharing this video! This break down helped me understand in a simple way!

Great video. Thank you. I didn't even know about SRECs until I watched this!

@SuitTV

Жыл бұрын

Yea np. You should watch my most recent solar video as well. SRECs are now called TRECs on Nj

Here is something that many people don't know. The biggest issue I see, is with the insurance company that insures your home. I have seen quite a few insurance companies that will cover 100% of the total repair costs for your home if a claim is made, only if the roof material/shingles are 15 years old or younger. Some will even cover more than 100% if you have a total replacement endorsement clause in your policy. A huge problem comes up when a roof becomes 10 or 15 years old (the time frame varies from provider to provider). Many insurance policies drop the total insurable costs when a roof gets to be that old. Here is one example I personally know of. In Canada, my cousin's home had their insurable coverage drop from 100% to only 55%, simply because their roof was over 15 years old (15 years was the cut off limit for their policy). They were then told that it will drop an additional 3% per year until it reached a max of 75%. Which meant after 21 years, their insurance policy would only cover 25% of the total repair/rebuilding costs if a claim were to be made. 😳 Most people are not aware of what it actually states in their home insurance policies, and are usually shocked when they find out, that their coverage has dropped drastically since buying their home, just because they had old shingles on their roof. 🤕

Yes that is true, it is hard to calculate the total savings because the cost of energy will infact continue to rise. Right now it rises at 8% per year which is the maximum allowed by the government.

@SuitTV

3 жыл бұрын

Oh wow I didn't realize it was that much of a raise every year. That means even more cost savings long term.

@MYTOMMYGO

3 жыл бұрын

Yes, 8% is probably correct in energy cost additions. One other thing to factor is there will be about a 2% per year decrease in solar production as the panels wear and the plastic becomes cloudy, ever so slightly but it does.

@franklevantini3239

2 жыл бұрын

Where I live in puetro rico electricity goes up about 21 percent every year. Not 8 percent. Now rate is .32 cents per kilowatt

I heard your shingles last a lot less time and also when you have to reshiingle what does that entail and what happens when it snows?

Great video, I see you can produce 12,340 kwh hours but how many kw was the system 34 x ? kw panels, also brand and efficiency of panel?

I was looking into Solar. Had a consultation the other day. I appreciate the review. Update: Sept 14, 2021. Decided against doing solar. Since my bill is a constant 94 dollars a month, 12 months a year with the program I am on in Las Vegas. Also the with Solar, of the house is not your forever home it will be very hard to sell.

@shifty1664

2 жыл бұрын

No it wouldn’t lol it would actually be easier or the same to sell, it’s just like having a pool, that may make people want the home or not

@shifty1664

2 жыл бұрын

@@YokomoHoyo obviously 😂😂 you add more panels when that happens, yes it’ll be more expensive, but way cheaper than paying your utility company, it’s common sense

What you seem to have missed it maintenance costs. After 2 1/2 years my batteries have failed. 12v batteries are about $100 apiece. I have 18 batteries. I can't afford to replace them. No it's not worth it!

@reid1boys

3 жыл бұрын

Batteries? who th ehell has batteries? My solar feeds right into the electric grid, and the electric grid feeds into my house.

@azhockeynut8297

3 жыл бұрын

@@reid1boys without storing it you lose the ability to have it in reserve when the grid or panels are not available see the recent issues in Texas for reference. Some level of storage makes sense

@reid1boys

3 жыл бұрын

@@azhockeynut8297 IN ca, at least where I am in Norcal, you dont have that option. Your system is tied into the grid. My solar panels do NOT POWER my house, They feed into the grid. My house gets its power from the grid. If power is shut down in my neighborhood, I lose my power like everyone else... yep, a real bummer. IM guessing that is the power companies attempt to keep a grip on all of us. My point being, batteries arent an option here, and right now, batteries are super expensive and inefficient anyways.

@azhockeynut8297

3 жыл бұрын

@@reid1boys yeah that sucks. They totally are expensive. I believe better storage tech will come sooner or later but storage is a big deal. We can't always generate on demand (nightime, icing, rain, etx) systems will improve over time lots of smart people working those problems im sure

@reid1boys

3 жыл бұрын

@@azhockeynut8297 no doubt. The technology is getting better and better. The efficiency of the panels are improving drastically as well as the efficiency of the panels. Ca passed a law to require all new houses to have solar. IM not sure of the exact specifics of the law, but no doubt this will drive the costs down. In a state like Ca, there is no reason to not have solar on all houses. All these people on here bashing solar are mostly misinformed. Id like to see the electric companies be removed from the process. They push for regulations that protect their asses, regardless of what is better for us. For example, you can only have a system that basically produces what your house will use. Another example is having to pay a $20 fee to be connected to the grid. This fee is supposed to cover maintenance..... even though all of our power lines are under ground..... not much maintenance needed there. The state tax credits ran out several years ago and the federal tax credit that was 30% 4 years ago is now down to 26% and dropping every year. Bottom line is that these alternative power sources are the future. When the price of batteries drop as well as the size of the batteries, there will be no reason not to have enough panels on a house that generates enough power to be 100% self efficient year round. People need to come into the 21st century.

Does insurance cover the system if destroyed by fire or hail. How much to remove system to install new shingles?

Do you clean the panels at least once a year? I’ve heard it can maintain highest output for longer.

@SuitTV

10 ай бұрын

No I've never cleaned them and haven't had a problem at all

So exchanging $150 a month for $180 a month?🤔

@mikemike1411

3 жыл бұрын

Thats what I was thinking. Idk. Maybe it’s worth it after everything is all paid off but a dollar today is worth more than a dollar tomorrow. So if u factor in future value (which I havent) he probably isnt saving anything. Especially when you factor in maintenance and possible battery and panel replacement costs.

@eyesuckle

3 жыл бұрын

@@mikemike1411 You may have a valid point about the actual monetary savings. Maybe he'll only break even in the long run. I like to think that he sleeps a little better at night knowing he at least tried to do the right thing. There's a cost to continuing on our merry way while the biosphere dies around us. This man took a positive step, which I admire.

@zarthemad8386

3 жыл бұрын

add in the extra costs to remove and re-install the panels when he replaces the roof (25-30k in his area) and he is fucked.

Wow, it is going to take you 25 years to get that 20K, it seems to me if you put that same amount into a good fund or some kind solid bond you would be light years ahead!

@Align700nitro

3 жыл бұрын

And wish the panel actually last that long, and no wind/hail damage out of nowhere...

@netfolks

2 жыл бұрын

@@Align700nitro Then there is cost of removal & replace when roof repair is needed. There's also the huge carbon footprint to make those specialty chemical items, by digging, mining the stuff worldwide over large swaths of the Earth's surface to get them, AND later somehow safely dispose of it all SOMEWHERE.

@Align700nitro

2 жыл бұрын

@@netfolks Oh yeah, just like electric cars, They need several tons of lithium rich rock to extract enough lithium for just one battery. Once they start full scale production of electric cars same as their gasoline brother, I don't know how it would work out....

@iamasmurf1122

2 жыл бұрын

Hahaha bonds and good funds ? Are you a baby boomer ! The reality is if you want to get decent returns you want control over your money ; your best bets not fiat currency’s it’s crypto ; and research shares yourself and buy shares directly ; managed funds are actually rip off artists in fees and in bad investments they make on your behalf ; as for bonds ?! Bonds have to be the biggest con job around it’s based on the fiat currency’s which are on the verge of collapse

@TheR1200clc

2 жыл бұрын

@@iamasmurf1122 Look Genus, judging from your response you know it all already. My point was no so much a bond, Although some municipal bonds did have a good yield in years past. Crypto, is putting all of your eggs into one basket with how volatile crypto can be is a recipe for disaster. Obviously you are not in favor for quality social discourse, you cite absolutely NO facts, only platitudes.

How long do they last ? I will have to by new ones when I still have payment? What you are saying I would pay the bank more money than I would save on my bills .

Thank you Alexx. Never give up. never give in.

Thank you very much for this video. I have one question about batteries. I understand they are very expensive and need to be replaced often, but I do not see any mention of them in your calculations. Have you looked into that as well ?

@SuitTV

2 жыл бұрын

Hey I'm glad you liked it. Batteries weren't really around much back when I bought. Even still the technology is not there to make them financially viable as they are very expensive and only really needed when there is a power grid outage. The power I generate is sent to the grid or used and then I just pay for the net of produced or used. Or they pay me if I have a surplus.

@billturk183

Жыл бұрын

@@SuitTV How much does it cost to have the snow removed from the solar panels? And how much does it cost to have the solar panels replaced from hail, and wind damage? Nobody wants to talk about that.

@SuitTV

Жыл бұрын

@@billturk183 I didn't mention it because it's never happened lol. I've never had to do any maintenance or snow removal or cleaning. I guess I'd get a bit more if I brushed the snow off but those ends don't justify the means, especially in the winter.

I’m curious to know how much your utility company is paying you per kWh? Mine started paying me seventeen cents per kWh, but that was only good for five years. After that it went to three point seven cent per kWh. Also will you get a 1099 at the end of the year and have to pay tax on the amount of electricity you produced like I did? It all sounds good in the beginning, but in the long term, buyer be ware.

Thanks for the info, I needed it. Still thinking about doing it here in Oregon.

In the UK excess elecricity produce by solar panels is fed back into the grid, does this happen in the USA?

I can't believe the cost of the system!!! What size system is it? I'm in Australia and I've just ordered a 10.3kw system with quality solar edge inverter and quality panels installed by a reputable electrician solar specialist for $9500 AUD

@maxpowers4903

3 жыл бұрын

Right? You can buy an entire house for that price in Missouri, lol

@tonychristensen6714

3 жыл бұрын

@@maxpowers4903 i wonder why

@HadoukenGr

3 жыл бұрын

10kw system with 4 hours of good sun per day (on average) is producing 14,400 kwh per year. Of course he might be getting more or less sun hours on average depending on his location but i cant imagine he would have anything more than 15kw in solar panels judging by his estimated 12,300 kwh per year. So the price he paid is way too high, unless he is using a bunch of lithium ion batteries. I am willing to bet that a big chunk of the cost was for the installation and possibly inflated prices for the materials.

@fishhuntadventure

3 жыл бұрын

@@HadoukenGr And you have spoken the truth

@sturmbreakers7817

3 жыл бұрын

@@HadoukenGr yeah he got robbed

Appreciate you sharing your experience. I'd be concerned that it might be difficult to sell your house in the future. There will likely be improved technology available which will be less expensive and more efficient.

@Tukayo69

2 жыл бұрын

That is a fair point, however, Solar panels that are tier one quality, are pretty much at their peak until any new breakthroughs happen, which are not predictable. And with guaranteed maintenance and 85%+ output, it is important to take into account the benefits are in place to start moving towards power production with a much less damaging net carbon footprint. I hear alot about mining and transport of minerals in the comments. And although that does indeed carry a carbon foot print, that is completely engulfed by the carbon footprint of mining fossil fuels and coal and their consistency of use, not to mention their burning for Power. Solar is a more green plunge to take, no matter how you slice it. The real problem to solve is the recycling/disposal of panels, which is where the real process/technological breakthroughs need to happen. Cheers!

Thanks for the video. I’m thinking about it. Good info. I’m in NJ as well.

When it comes time to have a new roof installed, will the roofing company take down the solar panels to put new shingles on and reinstalled the solar panels when they are done?

No matter what we do, eléctric and gas company have us by the balls (govt.). I remember changing all my lightbulbs to energy savers at once and my bill went up.

@ilyas5708

3 жыл бұрын

Wow

@HerMajesty1

3 жыл бұрын

And those LEDs cause cataracts. That why Trump made incandescents legal to buy agsin. That's probably been overturned now.

@regalsurvivor3418

3 жыл бұрын

Lol yup

@JoshuaClinard

3 жыл бұрын

Then you did it wrong. My bill went way down when I installed LED.

@ifitsfreeitsforme1852

3 жыл бұрын

@@HerMajesty1 I didn't know that . Is there some link to share this information ?

thank you, great review.

Just curious, in your state do you have to add the amount of energy you produce per year on to your income and pay tax on it? Also have you included in your payout the cost of installing a second meter? Even if your light bill is zero per month, how long would it take you to break even? Thanks

@SuitTV

2 жыл бұрын

I don't make any income on it, it pretty much evens out so no I do not need to pay tax on it. The installation company included the meter and all the wiring with the initial price. To break even I would say initial cost 40k- tax break 12k /$220 an srec = 127. Then I get about 12 srecs a year so 127/12=10.6years.

@ronniemullis8717

2 жыл бұрын

@@SuitTV I don’t understand what these srecs credits are. Georgia Power told me I would have to sign a 15 25 or 35 year contract to get a better plan. I told them I wouldn’t live that long. They then said my wife would have to continue it or pay a penalty. That’s why I’m stuck with 3.7 cents per kWh.

Thanks for the breakdown it makes sense now. I'll have to see if my specific is worth it for me in my area.

I have a 12kw system here in AZ and I’ve been saving an average of $65 a month over the last two years. The value in solar is long term. It also depends on the location. Here in AZ we get 311 days of pure sunshine so my panels probably generate a lot more energy than say someone in NY.

@andrewdoesyt7787

2 жыл бұрын

I know how you say it’s long term, but don’t solar panels need to be replaced?

@adambrosemann4852

2 жыл бұрын

@@andrewdoesyt7787 My panels will have paid for themselves by around year 12. I have a 30year full coverage warranty on the system and the panels. I should get 18 years of extremely reduced or completely eliminated electric bills. Just make sure if you get panels to check over the quality of the panels and the warranties the company offers.

@neerand

2 жыл бұрын

@@adambrosemann4852 good luck with 30 years.

Wait your electric bill was only $150 a month for that big house and you still decided to go solar? SMH

@wannawatchu66

3 жыл бұрын

Well, when you buy into the "saving the environment" and "global warming" horseshit kids are spoon-fed in school, you're easier to con...vince.

@HerMajesty1

3 жыл бұрын

@@wannawatchu66 yes and the eaths sun cycle is getting ready to power down into a solar minimum. Perhaps grand solar minimum. All of this is about fleecing the taxpayers

@Align700nitro

3 жыл бұрын

@@wannawatchu66 Gear up on mining operation to extract precious metal through astonish amount of earth is "environmental saving"...

@RyanWillis227

3 жыл бұрын

@@wannawatchu66 denying climate change?

@pokerman9108

2 жыл бұрын

@@RyanWillis227 guessing they don't live in the NW right now... also Id bet they haven't driven by a large reservoir lately.

So If I put more panels up do I get more value back? Say for example I line a whole field of them can I actually make more money?

@SuitTV

Жыл бұрын

As a residential customer, You're not allowed to buy more panels than what you consume. That's why the solar company asks for your electric bills, so they can calculate how many panels you need. I think if you want to actually have a business out of it and profit you need to take other steps.

Thanks so much, I always Wanted to know how it worked and you did a great job of explaining it thank you so much I wonder what the S Rex are in Texas

$41 GRAND !!!!!??? Even with the tax incentive. Idk man 😩

@dennisfahlstrom7422

3 жыл бұрын

You bet. Especially since solar equipment prices have dropped dramatically in the last decade. I bought a system for my last home that cost 23k and after fed and state rebates it was 12k. The same size system on my current home this year cost 29k (21,5k after rebates). It is more efficient but much more costly even though the equipment prices have dropped by more than half. All these solar outfits are making big profit and some - like this poor guy in NJ are getting scalped.

@jackracherthomas7739

3 жыл бұрын

Another thing to factor in is after you pay off the loan. It’s yours to keep as an asset. It’s like owning a home or renting a home.

@ctclimberguy34

3 жыл бұрын

@@jackracherthomas7739 but after you pay them off in 25yrs, how good will they still be?

@SuitTV

3 жыл бұрын

@@ctclimberguy34 yea not very good

@deandalapanda

3 жыл бұрын

@@jackracherthomas7739 it’s not his lol check the contract. He doesn’t get to keep the panels after paying it off

All very interesting... Your real problem as I see it is when you plan to sell your home. Very few people will want to buy your home with old panels on the roof but more so is who will want to eat up the remaining part of that solar contract? My guess is you will have to buy it out and try to remove and sell the out of date and old panels and system inside your home. All that savings may be for not. Maybe you have a buy out clause but I would plan for this. Very few young people stay in their home for 25 years or longer.

@kbob8424

3 жыл бұрын

Update: our rates as going up this Nov. I currently pay .10/kw with solar. Current rates are .12/kw. Rates are going up 13.4% so new rate is .135/kw. Increased savings!! I would buy a house with solar, no problem. Say hey sold in 10 years, chances are per month avg (for same usage) on electricity will be more than the $180 he's currently locked into.

@stephenwalton7079

3 жыл бұрын

Most solar installations are actually paid for via a HELOC arrangement. When you go to sell, you’ll pay it off when you close. Here in Florida that’s how most sales are structured. The way the systems work, if the grid goes down, you can only access one 110v outlet in your house. You’ll still need a generator of some kind to keep your refrigerator etc. going. The systems are pushed by the Florida power companies and supported by laws that the public blindly voted in because they sounded good the way they were peddled. If you get a robust system that offers power independence, you’re pretty much on your own. The way it’s structured here, the power companies don’t have to build as many power plants by way of tax payer funded subsidies(tax credits) and homeowner funded equipment/liability. All while remaining firmly tethered to the grid. Win, win, win for big electron. If you like solar, go for it. Just know what you’re buying, it’s real capabilities and costs.

@kbob8424

3 жыл бұрын

@@stephenwalton7079 - all I can say it's what I've mentioned before, its all relative. Maybe most in Florida are (HELOC) but not everywhere else. Yes electric companies that supposedly are for green energy are only in it if you follow their rules, and if EVERYONE is getting taxed (subsidy) only to give those going solar a credit, that's messed up. They try to sell solar like it's straight forward... all relative to where you live.

@jimkirby9959

3 жыл бұрын

"All that savings may be for not" in English is written "All that savings may be for nought."

@Eric2300jeep

2 жыл бұрын

@@kbob8424 Be careful! Most solar companies have a hidden clause that allows them to raise your "locked in" monthly payment if the price of electricity goes beyond a certain percentage of normal! Lots of scams with these solar companies.

we got solar panels attached to dc lights for almost 4 years now and it's such a great experience for us. the only thing i would do differently is not go cheap on the solar panels and lights. a dc 60 watts light that is expensive but from a reliable store is a whole lot better than a cheap 400 watts dc light and solar panel combined.

Good breakdown, what happens if you sell the house?

This is almost exactly our experience. We had a zoom meeting with a solar company and can’t convince ourselves it’s worth it. We would still have a small electric bill of about $25 because we don’t have enough space for additional panels, we don’t have a tax bill each year because we have enough taken out weekly, so the tax benefit is null, because it doesn’t create a refund. We would generate a nice 14 SRECS, but in PA they are only worth $28. As much as I want to get solar, I’m have trouble with the benefit.

@SuitTV

3 жыл бұрын

That's too bad, thanks for sharing your experience.

@animeB0y01

2 жыл бұрын

What happens when your utility company can not operate the grid? It's a remote chance but as we have seen in TX it can happen. A solar system that is properly implemented should be able to produce power even when grid is down - I do understand many people have implemented systems that can not produce power when grid down . Hard to put a cost on a grid down for a week or longer

@johnl3239

Жыл бұрын

Simple, change your tax withholding amount so you can get the tax credit. Problem solved.

@ArtBrain

10 ай бұрын

The withholding and the tax bill are two separate things, FYI. I don't think solar pays back yet, but you're not basing your decision on correct numbers.

The problem with solar is it is heavily subsidized. To be fair and honest the life cycle economics should be run without the subsidize....and for transparency, tax payers are covering the subsidizes. In addition what is the cost to replace and recycle those solar panels after 25yrs. How much energy was required to manufacture the solar panels. Just saying....we need to transparent.

@Somenite

3 жыл бұрын

Big oil gets tons of subsidies as well and it is considerably more than the subsidies going to alternate energy. Solar has a long way to go but it won't get there if the US is still handing out huge subsidies to big oil and willing to commit US Forces to keep flows out of the middle east uninterrupted so market prices are stable unless there are subsidies to alternate energy sources as well.

@dalejensen5828

3 жыл бұрын

@@Somenite Claimed oil subsidies is a false narrative used. Big oil pays a lot of taxes, major tax base contributor in oil producing states.

@Somenite

3 жыл бұрын

@@dalejensen5828 Big oil pays but well below companies in other industries thanks to direct subsidies. In 2014, Exxon paid an effective tax rate of 13%, Conoco paid 18% and Chevron 19% largely thanks to subsidies. Based on size/profits they should have been paying around the top corporate rate of 35% at the time. That doesn't even take into account indirect subsidies and the money the US spends on the military to protect oil overseas. Exxon tried to defend subsidies a few years back and claimed they paid a higher by factoring in state gas taxes taken on their product at the pump as well as payroll taxes taken from their employees. I'm not attacking the oil subsidies because energy is so critical to our country but think we need to give these alternate energy companies a chance to avoid falling behind other countries moving forward with the technology.

@Joe-sn6ir

3 жыл бұрын

@@Somenite just stop. oil companies don't get subsidies. and like dale said, they pay a lot in taxes. i live in an oil producing state. i matters a lot.

@Somenite

3 жыл бұрын

@@Joe-sn6ir Oil companies get all kinds of subsidies and tax breaks not available to other industries. From waterway transport tonnage taxes to the way their assets are valued for tax reporting. That is the reason they averaged about a 20% rate when the US corporate rate was 35%. They also get very favorable lease agreement rates on federal land. Just this past April when the domestic oil industry was struggling the POTUS made the announcement “We will never let the great U.S. Oil & Gas Industry down" and had his people make funds available at favorable terms and loaded up the strategic reserves to keep prices up. To be clear, I'm not saying any of that is wrong because we need to support our energy industries but I'm saying the technology behind alternative energy is going to get better and the US can be part of it and improve our energy independence by helping its industry or watch China develop and profit from it at our expense. Helping Solar/Wind overcome high R&D costs by helping with tax breaks is not much different than the money the US government fronted for decades for hydro projects like the Hoover dam or the nuclear plants that followed.

Great presentation. Curious to know what your current monthly payment is for your home in NJ?

Investments are details, every detail is applied/implemented and it is a PLUS.

Whether this was financially smart or not, I respect that you are actually doing something to improve the world and the environment. That is more than most of us and is to be respected.

@SuitTV

3 жыл бұрын

Thanks, if everyone did a little bit and cared more that'd make the world a much better place.

@axeljehovanymendoza

3 жыл бұрын

This comment makes want to barf. You probably are vegan and live in Silver Lake in Los Angeles CA. He is only improving that companies CEO's bank account.

@mgoh1984

2 жыл бұрын

@@axeljehovanymendoza I am vegan because it cured my cancer and heart disease last year. If you think it's an insult calling someone vegan, you have no clue what causes diseases in humans.

@axeljehovanymendoza

2 жыл бұрын

@@mgoh1984 I am very happy to hear you no longer are sick of either of those horrible diseases but I can tell you everything in moderation will keep your body healthy. Not necessarily being vegan is the cure all for every disease.

@mgoh1984

2 жыл бұрын

@@axeljehovanymendoza Thanks. We all have our reasons for our beliefs, and our DNA is key to our health. From what I have learned and lived through, I believe we are herbivores just like some of the most powerful mammals that may just be smarter than us for knowing what they are. I can't believe your opinion about moderation when I see young children die from cancer, but to each their own.

Are these things guaranteed for the 25 years? What happens if one is damaged or breaks? Also how much more are you going to have to pay to have your roof replaced when the time comes since you will have to get those panels removed and reinstalled by the solar panel company. Makes me wonder if you really save money in the long run.

@GoodieDickman

2 жыл бұрын

No

Thanks for sharing now I know what to look for and ask about solar.

after they wear out have you checked out the cost of getting rid of them heard they are very full of toxic chemicals?

Very informative video. I'm wondering about if you decide to sell your house and move , what happens to the loan on the solar power system ? I thought about solar energy and if I went to try solar , I would self install some panels off roof and and buy batteries to go off grid. Go slow and gradually grow the whole system a little at a time.

@stephenwalton7079

3 жыл бұрын

The loan is a HELOC. He gets to pay it off at closing. Could be a huge chunk of change depending on how the loan is amortized.

@franklevantini3239

2 жыл бұрын

That's not good if sell house you lose more money. Reason I avoid mortgage or loans. Try to pay cash to avoid losing value

How long will the panel last? Will they need to replaced. Who pays for that? What if you need to replace the roof? I think you need to consider this in your savings.

@williamwingo4740

2 жыл бұрын

That's one of the big drawbacks for me. In Dallas years ago we had our roof damaged by hailstorms--twice--and then had to have a complete overhaul to fix multiple major leaks. Solar panels would have made it a lot more complicated.

@gainerman

Жыл бұрын

That's what I'm talking about . Roofs last practically forever in places they dont have hail and microbursts .you guys in western Massachusetts wanna compare insurance costs with me let's get it on I'm interested in the solar and maybe combo hot water system , if it can absorb the beatdown my roof would otherwise take .that's what the salesman should be pitching

How long do these panels last, what if they crash in 20 years and you still pay for the solar and where do you elec after that.