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I used to think solar panels were a scam until I ran the numbers on my own roof
Crunched the math on a 6kW system for my house in Phoenix and realized the payback period is only 4 years with the tax credits and net metering here. Has anyone else found that their local utility rates totally change whether this makes sense?
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jordan_anderson9023d ago
Wait... 4 years?! That's insane... in a good way. I'm up in the Pacific Northwest and our rates are pretty low here so my break-even was more like 8 years last time I checked. Are you on some kind of time-of-use rate or something that lets you bank credits at peak prices? I can't wrap my head around getting that kind of return that fast...
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oscarb7723d ago
Ha, yeah my utility does this weird thing where they pay out credits at the wholesale rate if you overproduce, and I lucked out with a south-facing roof that gets blasted from like 9am to 4pm. Plus I found a used inverter on Craigslist for cheap, so that cut the upfront cost a ton. Have you looked into any state rebates that might kick in for you?
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