Author Topic: Home Improvement Thread  (Read 22770 times)

0 Members and 1 Guest are viewing this topic.

Offline JCA-CrystalCity

  • Global Moderator
  • ****
  • Posts: 32127
  • Platoon - not just a movie, a baseball obsession
Re: Home Improvement Thread
« Reply #500: February 17, 2021, 04:18:36 PM »
Solar power investment.  I saw an ad on the Yahoo site that was advertising solar power for NC residents with no cost (the fine print says "at install") and a rebate of over $2k. I was intrigued so I started the process and we sat thru a sales presentation. After all who wouldn't like no electric bill? The guy comes over to the house, takes some photos outside, comes in and takes some measurements in the attic, looks at the latest electric bill and then our homeowners insurance policy. The bottom line is it will cost us $52k that can be paid over 25 years with a monthly bill of $186 (our equalized payment bill with Duke Energy is $149) and they'd pay the first year of the loan (that's the $2k rebate). We passed on this deal. I knew it'd be expensive but this is outrageous. Among my concerns was buying technology that will probably be obsolete in 5 years and resale means a prospective buyer is obligated to take on this loan. The 26% tax credit of $13k wasn't enticing enough.
There are all kinds of ways these deals are set up.  I think there are ways to either lease the equipment or that the company ends up making money by selling the electricity excess to the grid in states with low-carbon standards.  I know some utilities have lobbied to take away provisions that give good deals if you install solar.  You really have to look at the details.  I forget if the one Musk owns is good or not.