Going Solar (goodbye SCE)

Discussion in 'The VIP Lounge' started by Ron-P, Mar 4, 2016.

  1. Ron-P

    Ron-P Well-Known Member

    Yes he does, my friend said he didn't even care about his 30% tax credit. He has a boat load and is paying all cash for his system.

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  2. Rick C

    Rick C Member

    First full year in the house and we will end up with a small power credit. ($25). The solar has worked out better than anticipated.
     
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  3. Mike B

    Mike B Well-Known Member Donor War Zone Member Top Poster

    I'm running the AC a lot colder now as my true up is end of August and I want to make sure I owe at least $120 so I get the full credit on the grid connect charge.
     
  4. DYohn

    DYohn Well-Known Member Donor

    This is month 30 with my solar array. Here's the estimate of where I stand:
    Initial investment: $32000
    Amount of Federal tax credit I was able to realize: $9250
    Average monthly power bill for my all-electric home in A/C required Arizona for the year before solar: $287
    Current total paid to power company since installation: -$200

    Net ROI:
    32000-9250-(30x287)-200=13940, Estimated time remaining to break even: 13940/287=48.5 months.

    So in another 4 years I break even, assuming no additional net positive bank with the power company. And during the 79 month repayment period no money out of pocket for electricity.

    My goal was to use cash I had on hand to eliminate a bill for my old age. Looks like I've done this.
     
  5. Phil A

    Phil A Active Member Top Poster

    That's a great return. I had my panel put in and integrated with the roof tiles (pic below towards the end of construction 4 years ago - there's more panels on the back upper and lower roof). My return period is about double (part of that is that I didn't work except a small fraction of the second year forward to get some additional tax credits).

    Solar Panels.jpg
     
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  6. Mike B

    Mike B Well-Known Member Donor War Zone Member Top Poster

    Just got my first true up bill. For a whole year of juice it cost me $260. Since I already paid $110 in "grid connect" fees and I am a net consumer I got full credit and only need to send in $150. I added up what a year cost me before solar and it was $1500, so I have a 10 year (9 more to go) break even.

    Pretty cool - :)
     
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