There are some homeowners who start with a small solar array on their roof, maybe enough panels to eliminate $75 to $100 from their electric bill.
Doing this is far better than not getting solar at all. Some people think you have to spend $30,000 and get a massive system that generates $300 per month. Not at all.
A small solar array can cost between $6,000 to $10,000, and on a 4% loan your payment will be LESS than the amount of electricity you generate.
If anyone pitches you on solar and you are NOT cash flow positive the first month that installer is charging you too much.
There are 100 million homes in the United States, just over 1 million have some type of roof mounted solar already. If just 10% of the homes in the USA had a small system that generated $100 per month in energy this would make a huge difference, not only in terms of less atmospheric carbon dioxide, but also for the finances of those 10 million homeowners.
When you pay off your panels your energy is free. This is the best part about solar.
The LG panels that I sell for Tampa Bay Solar will pay for themselves by 2022, with a warranty that runs all the way out to the year 2042.
20 years of free electricity… and the panels will still be at 80% capacity in 2042. The return on investment (ROI) for solar is predictable and very low risk. We know the sun will come up tomorrow, and solar still generates energy even on cloudy days.
If you are considering solar get a smaller system and try it out. The future is here, stop wasting your money by sending it to Big Electric.
July . 2017