Are solar panels worth the investment?

[gmar]

I have a company trying to sell me on the idea of solar panels for the house. After the rebates, the monthly cost would be the same or less than my monthly electric bill and they say there is a lifetime warranty on the panels.

Does anyone have solar power or know much about it? Is it worth the investment?

 

[-Pjackso]

I'm interested.
If you don't mind, can you provide general information?

Total cost of the install?
How many panels (quantity and watts)?
Contractor estimated Kw-output? (per hour/day/or month)


For what it's worth, I looked into the idea of solar panels for my house also (years ago).
I ran the numbers for estimated Kwh per month and compared the saving to the system costs - and calculated a 20 year ROI.
And that's assuming no problems for 20 years, and included the tax credit when it was in full force (30%?).

I'd like to have some solar panels, but I can't make the numbers show positive return.
Needless to say, no solar panels on my house.

 

[Jason Freeland]

Double check the price of electricity in KwH and compare it to what you pay. From what I've heard, most of those aren't a very good deal. That being said, I've thought about it myself.

 

[GeneW]

Lifetime warranty? If they stay in business.,

The guy who gave me a lifetime guarantee on my houses foundation repair 3 years ago? He's out of business.

Be careful, skeptical even, when some salesman blows smoke up your @@@ about lifetime warranties.

 

[trekrok]

I'm curious how they handle hail. Any info on that? And do they raise the premium on your house insurance?

Ask a question and get two back at ya, lol.

 

[MacFromOK]

From what I understand, rated power output is usually based on full sun exposure at a 90 degree angle. Even slightly angled away from that will reduce the actual output.

It's a fascinating concept, but I'd be very skeptical. Kinda like going to Vegas... if you can't afford to lose the investment, it's probably not a good idea.

Luck.
___

 

[FRISKY]

Oklahoma is one of the worst places (that has sun) for solar electricity.

The pricing is terrible if you want to tie to the grid and make money on the extra power your solar panels make. Look up 'net metering.'

The companies that will set you up with solar are just one step away from being scams.

The best way for solar here is to build your own off grid system with batteries for 24-hour power. It will cost more up front, but you will save money over the long run especially if you are able to eliminate gasoline fuel cost by combining solar with electric vehicles.

 

[918evo]

Solar panel technology and price is not quite there yet in the cost/payoff category, but it may be within the next decade. The only way for it to be feasible would be if the government is subsidizing it. As stated above, a warranty is only as good as the company offering it. Also, the numbers that the solar company are providing are going to be grossly exaggerated in their favor. I would find someone who has had the same setup for at least a couple of years and ask them, but be prepared to read through the lines- some people don't do numbers very well or they may be hesitant to admit they got duped.

 

[Snattlerake]

Have the sales guys said the power company will or has to buy the power you don't use back?

Under Oklahoma law, utilities are not allowed to impose extra charges for customers signed up for net metering up to 100kw in size or 25,000 khw/year, which ever is less. ... Net metering compensates solar producers for the amount of generation they produce but don't consume.

http://www.okenergytoday.com/2020/04/new-challenge-to-net-metering-is-filed-with-ferc/
I think they might buy it but they will buy it from you at wholesale not retail pricing.

According to this article, this petition may stop net metering altogether.

 

[2busy]

Oklahoma is not one of the worst places to have solar. Put the panels on trackers.the battery storage is the high cost. Learn to use less electricity. Buy and install it yourself