Quote:
Originally Posted by Evans, Marv
I'm wondering if the efficiencyu of panels has gone up since I bought mine seven years ago. If the system they're quoting has improved that much in seven years. My system is 7.75kW with 25 panels which pencils out at .31 kW per panel. They're saying yours produces 12 kW at 29 panels, which is .41 kW each. That's quite a diference.
For me, I'd pay for the system outright either with cash or through a loan outside the solar company. That's just me though. At a cost of $40K with $12K tax credit; $5K local tax credit; & $8.2K tax break over 4 years; you're left with $14.8K cost to you. That's dirt cheap. Even if you leave and can't recoupe the total $8.2K, it still is cheap and the system might increase the resale value by enough to make up the difference. My system of 25 panels at the time cost me $19+K after everything.
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To pay for the system outright would not make sense for me. I am basically retired and I do not pay local taxes on my pension so the tax credits would hardly benefit me and I would be absorbing most of the cost of the system and it would take many years to make up the cost through energy cost savings. After reviewing all of the pros and cons as well as cost at this point it does not really make financial sense to go with solar.