I just got a DIY kit quote for solar and it’s ~$18,000. That would mean a contractor installing is at least $25,000 if not more. That’s a big chunk of change upfront.
You’d have to consider also long-term maintenance and repair costs to that …
Typically if you can afford a $25k upfront cost, the long term costs are pretty negligible.
If you’re paying cash, then your monthly expenses are only going down due to your reduced electricity bill, so your savings potential is going up further.
Additionally the panels are warrantied for at least a decade, with a performance guarantee for 20+ years. If they’re installed on your roof, many also include a guarantee on the roof work.
Proactive solar maintenance is really just keeping things clean, which costs very little.
These small costs do add up if you’re barely making ends meet and on a lease plan that costs roughly the same as your old utility bill, but for the group paying upfront, ¯\_(ツ)_/¯
And no plans are in place for the disposal of panels, batteries, etc after their 25 year useful life…
Lithium batteries are highly recyclable… The current rate is something like 60% recovery, and that is bound to increase over time.
Everything I’ve seen gives it a range between 25% and 96% depending on several factors. It seems like we’re still getting this all figured out and it’s early but if we can get closer to that upper limit it will make a huge difference when considering the impact of these batteries.
The crazy thing is that 25 years after installing the system still works, its just not as efficent. Also you are just wrong about batteries, we already recycle lithium its just that once a battery pack is no longer useful for its application its better NOT to grind it down and sort out the materials, but first to reuse it in another application.
This is the area where we are still working on improving, current tech is looking at doing 2nd lifecycle applications for EV batteries in grid scale storage for example.
Did you just learn that some people have more money than you?
Even having the money, most people that install solar panels, and don’t do it just for idealistic reasons (fighting climate change, etc), expect to save more money than they spend in the long run. Well, depends of the specifics of course, but it might take years, even decades to recoup that initial expense. Even if you have the cash, it might not be worth it.
Have we never heard of a loan?!
Home improvement loans tend to have very reasonable rates. A $25k loan for 5 years is only about $525/mo.
That is cheap.
If you can’t afford some extra $500/mo charge (be it some emergency repairs on your roof or a new heater, etc), then you have no business buying a house when expenses can crop up at literally at time.
Being able to swing the occasional 500 dollars is quite different than affording an additional monthly expense of 500 dollars
Sarcasm aside, you’re right that solar can be a hefty upfront cost. Going DIY can save you on install costs, but often you’re getting the panels at a less favorable rate than a contractor buying in bulk, and you’ve generally gotta do it all in cash.
Most halfway decent solar vendors will be happy to walk you through options free of charge. You can get quotes, alongside real savings estimates based on your roof orientation. They should be able to provide you with a quote, incentive breakdown, and payback estimates for:
Owned solar, where you pay everything upfront and recoup over time
Leased solar, where you pay only a small portion down, with monthly lease payments
Power purchase agreement, where depending on your location they essentially can act as the middleman with your utility. The savings here are usually near zero, but you get to run solar at home.