After Rocky Mountain Power raises their fees for being "connected to the
grid" I doubt they will save a dime.
So, solar energy is feasible. The investment will pay itself off in less than 6
years. Seems like there is a lesson to be learned here.
We need to stop being so dependent on fossil fuels and start using common sense
no brainer modes of energy. For example: We discover magnetic forces and the
best we can do is stick them on our fridges? Come on Man! What are we? Cavemen?
I know we can do better than this! But I know why we continue to stumble and
fail to progress. One reason is the fossil fuel company's send hitmen to
snuff out and disrupt the world changing inventions which occasionally come
along. Another reason is the same story it has always been. $$$$$$$$$$$ Hey!
Who's that knocking on my door?...............
To "Esquire" actually it won't pay for itself in 6 years. The
total cost is $1.4 million, so that means it would take 14 years for payback.
The funny thing is that if you took that same $1.4 million and invested for long
term payback, they could have an extra $100,000 to $140,000 per year for paying
their electric bills for ever. The average long term investment in the stock
market makes 10% interest. If the money for the solar panel was invested, and
they only took out 8%, they would have $112,000 each year for power bills, and
with the 2% growth, they would have sufficient to handle inflation each year and
would be able to pay about 1/7 of their power bill for ever.Financially this makes no sense.
Redshirt1701 - There is a lot more to the financial return of a solar investment
then electricity savings. Right off the bat you need to factor and a 30%
discount on the sticker price for the Federal Investment Tax Credit, not to
mention any other state incentives to go solar. Next you need to factor in the
accelerated depreciation which solar assets can claim on their balance sheet.
Also, lenders are becoming increasingly more comfortable with loans due to the
steady predictable returns solar projects achieve. Using this leverage solar
investments can start to pencil out nicely and with a lot less risk then the
stock market. It would be great if you would do a little more
research before criticizing an area you clearly have no knowledge in. I'm
sure the author did a little more research on the payback than dividing the cost
of the project by revenue.Solar may not be as cheap as burning coal,
but with effective policy, which encourages solar investment (not just dumping
money into projects), solar prices have plummeted in the past few years and are
reaching the point of grid parity...Hopefully we can make it there before
someone kills it.
To "TMCK" the fact that they have to give you a 30% tax credit to make
it affordable should say something about it.The point is that if you
look at the total price without the tax credits and grants, solar power is not
affordable. Right now the only reason why solar prices have dropped is because
the government subsidizes it so heavily. For every $1 that coal, gas, or
nuclear power get in tax credits, solar power is getting nearly $20.Right now solar is not a viable solution. If you want it as a back up power
system or for whatever reason you want, that is fine. Just don't expect
the tax payers to subsidize 30% of the cost.