How much saved per year? What was your initial outlay?

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Jan 2, 2025
11:49:54am

BYU'01 All-American

How much saved per year? What was your initial outlay?

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BYU'01

Bio page: BYU'01
Joined: Jan 18, 2003
Last login: Jan 4, 2025
Total posts: 8,852 (144 FO)

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Messages

Author

Time

POLL: For those that have owned solar for at least two full years have you saved money?

BYU'01

Jan 2, 11:46am

Yeah way better in Arizona before and after. But we get a ton of sun.

JohnnyComeLately

Jan 2, 11:47am

How much saved per year? What was your initial outlay?

BYU'01

Jan 2, 11:49am

I no longer am in AZ and don’t have those old bills around but summer months (May to Sept) we would have frequent bills

JohnnyComeLately

Jan 2, 11:51am

Wow, our AZ home (~2k sqft) would top out at ~~$270-300/month; ~$2k/year

BYU'01

Jan 2, 12:02pm

RE: Wow, our AZ home (~2k sqft) would top out at ~~$270-300/month; ~$2k/year

JohnnyComeLately

Jan 2, 12:07pm

The math I've seen is its definitely worth it in places where electricity is $$$

rcbyufan

Jan 2, 11:47am

I.E. location dependent. Do you get lots of sun and is electricity expensive?

rcbyufan

Jan 2, 11:49am

So less of a slam dunk in Utah? My Utah County electrician bill averages $60

Florwood

Jan 2, 11:57am

I would have installed solar by now but every sales guy wants to charge 9000% mark up to maximize their commission. So

WDaddy

Jan 2, 11:50am

Yep. I do calculations every couple years and it never makes sense financially

kotacoug

Jan 2, 12:08pm

Paid $10k after rebates and saving about $120/month on average.

PROBcoug

Jan 2, 11:51am

So, you save $1400/yr while $10k could have returned $1k/yr that compounds.

BYU'01

Jan 2, 12:09pm

All good questions. I would add a few to those and would probably not make a 10% ROI assumption but go with 8%

PROBcoug

Jan 2, 12:43pm

20-yr S&P 500 return ~12%. Based on the last century 10% seems reasonable.

BYU'01

Jan 2, 5:54pm

And the 25 year on S&P is 7.18%…

PROBcoug

Jan 2, 6:38pm

In case it helps you understand my personal equation better, here is more detail

PROBcoug

Jan 2, 8:07pm

Being an early adopter matters most. $10k invest vs $20K is a big deal

bald man

Jan 3, 5:26am

Most people would have just spent that extra month on stupid stuff that never brings them anything in return. It’s like

JohnnyComeLately

Jan 2, 12:49pm

People cat put $20k into solar or an index fund?

BYU'01

Jan 2, 4:50pm

Reading is hard.

JohnnyComeLately

Jan 2, 7:57pm

That claim is accurate but poorly worded, it comes down to

The Pope

Jan 2, 11:56am

Things that make it hard to pull the trigger on solar. Increasing pressure to no

bald man

Jan 2, 11:58am

I've been hearing since elementary school in the 1980s that solar would be affor

Iman23

Jan 2, 12:00pm

Yea the 20 to 25K buy price is hard to swallow,especially now that teh rebate

bald man

Jan 2, 12:27pm

<< Deleted >>

JimmyZ

Jan 2, 12:02pm

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