Quote:
Originally Posted by tadink
The no money down thing is very attractive, but you are giving up some benefits that might not be apparent.
If you have the cash, you are far better off to purchase....that way you are not paying interest on the money, and you have ZERO payments. The 'lower' monthly payment is still advantage SolarCity.
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What? I pay $85 a month for 20 yrs. In 15 yrs. I'll still be paying $85 a month, which will be about $50 in today's dollars. If I had paid cash for the whole set up, it would take me about 15 yrs. to break even AND I'd be on the hook for all repairs and maint. PV panels don't last forever; they degrade. My electric bill was $60 last month, but it's $20ish when the a/c isn't running. If I hadn't gotten a $500 rebate check for the install, it'd be a total wash. The only real benefit of solar is that the rate is locked for 20 yrs., while APS's rates go up every year. It's a total false economy and would be insane if not for the gov't. subsidies, which I also think are insane. It's just that, as a taxpayer, I want to get whatever I can back that they steal from me.