Apr 11
3

Do solar energy panels for your home make sense?

13 Comments

I have heard solar PV panels cost $ 75,000.00 to save about $ 2,200.00 per year and only last 20 to 24 years and need replacement. To finance that cost $ 123,000.00 over 24 years at 4.6 intrest.This sounds like a financial disaster. Any thoughts…
If I spend 75k on panels I will save a lot more than $ 2,200.00 per year? The cheap quotes out there dont seem to exist around the mid west. There is much info rate life span at 24 yrs. and losing effectiveness as they age.

As single home solution might not be cost efficient when you try to use the energy "1:1" in your home.

The concept is to use an array of solar panels on roofs and feed the energy into the grid.

Here is an article from CNN from today which shows how it is done in CA,
the article mentions companies which are active.

In NJ the concept is that solar panels are installed on roofs of buildings (schools, warehouses, private homes), the energy goes into the grid. There are different concepts: you buy everything and sell the electricity or companies "lease" your roof and pay you a certain amount.

The advantages of this is that the oil and gasoline prices do not contain the real cost, in economics this is called "externalized" meaning: you push the costs of the problems to somebody else.

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Posted in pv panels by admin 13 Comments

13 Responses to "Do solar energy panels for your home make sense?"

  • MindlessFreak says:
    April 3, 2011 at 9:57 am

    They make sense if you want your great grand children and their children to live on this earth again. : )

    I don’t believe in Global Warming or Global Dimming but the Earth is changing and not for the better…

    I just hope people will start to realize that there is more to money and vices; that there is actually a life beyond money…

    : )
    References :
    im just a kid who wants to see her siblings’ grand children : )

  • Lumpmasters says:
    April 3, 2011 at 10:30 am

    Well they do last longer then 24 years . The first ones ever built is still working . Some times cells do go bad in them but can be repaired . Problem is we became a disposable nation . Rather then repair people through out and buy new . I would love to get my hands on all the solar panels people toss out . I would make a killing . 75 thousand is allot of money to invest way to much . The manufacturers just like all manufacturers have you thinking these things are made of gold so they put a high price tag on it . I have been building my own panels for years now and really cheap and easy to do once you get the knack for it . What cost you 7 or 8 hundred to buy i can build for under 100 . I run my entire home on solar . What would cost you 50,000 i built for 3000 give or take .

    I do run my refrigerator and hot water on propane . Normal size propane fridge that did cost me a few bucks and a instant hot water heater i got off ebay for $99 and get plenty of hot water . It cost me around $ 30 a month in propane . So all the comforts that you have i have and it only cost me $30 a month give or take . Depends on how many good hot showers i take . That’s a big saving for me considering i was paying around 400 a month for being on the grid . Just all depends on how you go about it that makes sense
    References :

  • eholbrook19 says:
    April 3, 2011 at 10:47 am

    Your right, the cost of solar PV panels at this point are too expensive and not as efficient, I worked on a project to reduce the green house gas output on a campus a few years back and found out first hand what you are talking about now. Although PV is expensive, there are other methods of capturing and utilizing sunlight that are less expensive, but still carry on some of the efficiency problems. I think the big problem is not the downfall of one energy source, but our lack of integrating 2, 3, or 4 energy sources together to fill our voracious thirst for energy, oh yea and not to mention conservation. Maybe the average person can’t afford to jump into the money hole solar PV panels are today, but give it time and personally usher in the use of other energy sources and then you will see a viable future for renewable energy. Support you energy companies by buying into green energy option. They are putting up the up front cost of these projects and are depending on your contributions to make them happen (or at least the one in my area is).
    References :

  • oikos says:
    April 3, 2011 at 11:25 am

    You are dealing in generalizations. In some places, solar energy is a good deal; in others, not so much. Get some specifics for your house before you make any decisions. And don’t forget to consider the tax incentives for the installation.
    References :

  • Gabby says:
    April 3, 2011 at 11:53 am

    PV panels can be constructed for much cheaper by yourself. Then the cost of saving is worthwhile. They only work in warm climates so that’s a bummer.
    References :

  • Morris D. says:
    April 3, 2011 at 12:13 pm

    Panels definitely last longer than 20-24 years, I believe most if not all PV’s come with a 25 year manufacturer’s warranty these days. Anyways as far as costs are concerned that’s truly dependent on the system size you’re looking to build and your location will be a major factor as far as how productive your panels will be. One site I found to be very helpful when I was pursuing solar was http://www.globalsolarcenter.com/ They provide very accurate free solar quotes and will inform you of any tax rebates and other incentives you are eligible for. They will also provide you with a break-even/ payback period analysis and an estimated expected future cash flows statement. The project for my home cost below 20k so either you have a massive house or bad sources. Anyways I would recommend visiting the site as the info they provide will let you make a smart decision.
    References :
    http://www.globalsolarcenter.com/

  • Peter says:
    April 3, 2011 at 1:02 pm

    Well if your house is in an area that is not served by a power company then it makes sense. Like on an island.
    References :

  • Fred says:
    April 3, 2011 at 1:51 pm

    For a free energy audit to disprove this go to http://www.freeenergyadvice.com/?f=9013 not only a lot cheaper but you now have rebates
    References :
    http://www.freeenergyadvice.com/?f=9013

  • J. says:
    April 3, 2011 at 2:27 pm

    It depends. If you are looking to maintain your current rate of electricity consumption, it would be somewhat expensive. Not quite to the degree you indicate, perhaps closer to 40,000 dollars. There are many variables involved.

    If you wanted to be "off grid," energy independent, you can do so within reason for not too much money. Depending on how much effort you wanted to put into things, which is based on your own abillities, you can do quite a lot of your own work to achieve "off grid" existence with minimal sacrifice to your current way of life. There is a push for various certifications in an effort to direct people to buying finished products and having someone else install them.

    Changing how you use electricity will have as much impact on how much energy you use from the grid as would adding solar panels, if not more. LED technology is the future of most lighting, and they are low voltage devices to start with. They lose some of their inherent efficiency in required powersupplies and other circuit modifications to drop mains house current to the level the devices operate, yet they still exceed CFL’s for efficiencies over incandescents when this is done.

    You can use many different passive solar designs to heat your house, to heat the water you use, and these too are solar panels and worth considering too, many you can build yourself for modest cost and perhaps have more impact on how much you spend every month for gas and electricity.

    A good site to spend time perusing is http://www.builditsolar.com/ The fellow lives in Montana so his own projects have been "acid tested."

    Also- look beyond the packaging. There are various products out there with a hefty price tag, sometimes justified, but not usually. For example the wholsale sale price to the importer for 7 Amp charge controllers is about 1 to 2 dollars. While he does have overhead and people to pay, you can construct one of your own that can handle 15 Amps or more for about that same amount per unit if you know how to build them. Some liquid to air heat exchangers for passive heat systems that use water or antifreeze are nothing more than school bus heaters. It just takes a little bit of effort to seek out the knowledge.
    References :
    Build it Solar, Zetex. ON Semiconductor, Vishay, National Semiconductor, to name just a few.

  • Robert K says:
    April 3, 2011 at 3:00 pm

    As single home solution might not be cost efficient when you try to use the energy "1:1" in your home.

    The concept is to use an array of solar panels on roofs and feed the energy into the grid.

    Here is an article from CNN from today which shows how it is done in CA,
    the article mentions companies which are active.

    In NJ the concept is that solar panels are installed on roofs of buildings (schools, warehouses, private homes), the energy goes into the grid. There are different concepts: you buy everything and sell the electricity or companies "lease" your roof and pay you a certain amount.

    The advantages of this is that the oil and gasoline prices do not contain the real cost, in economics this is called "externalized" meaning: you push the costs of the problems to somebody else.
    References :
    http://money.cnn.com/2010/06/28/news/economy/solar_city/index.htm?source=cnn_bin&hpt=Sbin

    http://planetgreen.discovery.com/go-green/alternative-energy/index.html

  • Foxx says:
    April 3, 2011 at 3:50 pm

    Yes, but of course
    References :

  • kk says:
    April 3, 2011 at 3:56 pm

    They make perfect sense…..for someone that has A LOT of moolah!
    Seriously though, it’s a shame that every way we can make our world a better place, costs so much money. Should be the other way around. Seems like they want to discourage you from change.
    References :

  • Douglas L says:
    April 3, 2011 at 4:36 pm

    I looked into it once, just for the hell of it.
    I assumed the sun would shine 12 hours every day, which it does not in this part of the world.I assumed no maintenance cost.
    The pay-back was about 20 years.In all the companies I have worked for, if the pay-back on a project is over 4 years, it has no chance.
    The payback depends on the cost of electricity from the local supplier, the maintenance cost, the amount and intensity of sunlight and the installed cost of panels. This is all constantly changing.
    As the situation stands now, I would rather invest my money in lottery tickets or better still buy good stocks.
    References :

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