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Solar panels, solar energy

hickslawns

Dignitary Member
Supporting Member
39,721
248
Ohio
I'm not afraid to spend money if it pays for itself in a reasonable amount of time. Looking out 15-20-25yrs, I can see being debt free. . .except energy costs, property taxes, insurance, food, etc. One of my larger expenses is electricity. Now I realize as the kids move out, when I close down the business (not planning on soon but eventually it will happen), the electricity consumption will be reduced. I priced the Tesla shingles. That is a joke. Who are the idiots paying $40-60-80k for solar roof shingles? Whoa! I priced out "packages" for solar systems based on my current annual energy usage. Looks like $18-22k. Or 7-9yr return on investment. Or is it? If this is only replacing the actual energy used then I might have to double the return time. At that point I don't think it is worth it.

For those who have tried this (if there are any): I would ideally put them on my barn roof. Large area. Facing right direction. Doesn't eat up space on our property. Aesthetically .. . Not real pleasing but oh well. Have you eliminated your electric bill? Or have you only reduced it? Is the payback on target with what you calculated before installing? Were you able to maximize any tax credits/incentives? Are there things you would have done differently? Are you happy you did it? Would you do it again? Any unexpected maintenance expenses? Curious on what (if any) feedback I receive here.
 

MK111

"Happy Hunting Grounds in the Sky"
Supporting Member
6,551
66
SW Ohio
My brother installed a large wind turbine and some solar panels. Outside of making him feel good it will never pay for itself in his lifetime. So to me it was a waste of money.
I would invest the funds in another rental property.
 

giles

Cull buck specialist
Supporting Member
My only experience with them is off grid, so I couldn't tell ya what the numbers are. I don't see that big of an advantage living on the grid.

I've never looked into it with in Ohio, I do know that some places make you tie into the grid with your power. I don't like that idea at all. So I'd look into that before investing any money.
 

MK111

"Happy Hunting Grounds in the Sky"
Supporting Member
6,551
66
SW Ohio
My only experience with them is off grid, so I couldn't tell ya what the numbers are. I don't see that big of an advantage living on the grid.

I've never looked into it with in Ohio, I do know that some places make you tie into the grid with your power. I don't like that idea at all. So I'd look into that before investing any money.

My brother electric COOP wouldn't permit him to tie into their grid. So he went to the Ohio AG and after that he was permitted to tie in and sell them excess electric.
I just don't see solar panels for in town living. Put that money into a investment and be further a head. IMHO
Just talked to a classmate who bought a small farm around Greenville, OH and his lovely next door neighbor wouldn't permit him to cross her property to tie into the electric grid. He installed a total solar electric system and cost over 10K. Just to have lights and misc outlets to keep the house from freezing up during the winter. Will it ever pay for itself I would say no but just making living a little more like living out of the dark ages.
 

hickslawns

Dignitary Member
Supporting Member
39,721
248
Ohio
If the numbers don't work I am out. In rural areas or places with no electric options I can see it. I have electricity. We rarely have outages. When we do I have generators that will do the job. BUT. . .if this will pay for itself in 5-9yrs I am willing to pursue it. If the pay back is 15-20-30yrs I am shelfing the option. Website numbers show me 7-8 year return. My cousin in KY had been looking into as well. He was finding close to same return on investment. This makes sense. I plan on living longer than that. (Not that it is my decision when I die.)