Do Solar Panels REALLY save money? Deal or No Deal?

I pay about $500 / month for electricity. I'm wondering if solar panels really do cut down electricity costs significantly. My house gets plenty of sun.

On their own? Probably not. But if you can take advantage of tax incentives and discounts, they can pay for themselves in under ten years or better and have a lifespan of thirty plus years, so can be a good investment.

One thing to find out is if your utility is required to buy back your excess electricity, bank it for later use by you, etc.

$500/month? Do you have 2 Teslas and 3 swimming pools?

$500/month? Do you have 2 Teslas and 3 swimming pools?

LOL! One pool...no Tesla's. One bill was over $1,000 in August....but I think the pool guy set the pump to run 24/7.

You have to consider your roof, too. Probably better to mount them on a metal or terra-cotta tile (aka-long lasting) roof than an asphalt shingle type, which you'll probably have to replace.

You have to consider your roof, too. Probably better to mount them on a metal or terra-cotta tile (aka-long lasting) roof than an asphalt shingle type, which you'll probably have to replace.

I have terra-cotta tiles. Why does that make a difference?

You have to consider your roof, too. Probably better to mount them on a metal or terra-cotta tile (aka-long lasting) roof than an asphalt shingle type, which you'll probably have to replace.

 

I have terra-cotta tiles. Why does that make a difference?

$500/month? Do you have 2 Teslas and 3 swimming pools?

 

LOL! One pool...no Tesla's. One bill was over $1,000 in August....but I think the pool guy set the pump to run 24/7.

Sucks for you, but makes me feel better. Pool here also, and in the Texas summer heat our electric bill is $500=600 also. A lot cheaper now that the temperature has dropped and the pool equipment is barely running.

$500/month? Do you have 2 Teslas and 3 swimming pools?

 

LOL! One pool...no Tesla's. One bill was over $1,000 in August....but I think the pool guy set the pump to run 24/7.

 

Sucks for you, but makes me feel better. Pool here also, and in the Texas summer heat our electric bill is $500=600 also. A lot cheaper now that the temperature has dropped and the pool equipment is barely running.

Have you looked into solar?

You have to consider your roof, too. Probably better to mount them on a metal or terra-cotta tile (aka-long lasting) roof than an asphalt shingle type, which you'll probably have to replace.

 

I have terra-cotta tiles. Why does that make a difference?

Because asphalt shingle roofs have a life of 15-20 years. If you mount solar panels on, say, seven year old asphalt shingles, you're looking at 8 to 13 years before you have to dismantle the solar panels, replace the shingles, then re-mount the solar panels. Terra-cotta tiles should last the life of the house.

$500/month? Do you have 2 Teslas and 3 swimming pools?

 

LOL! One pool...no Tesla's. One bill was over $1,000 in August....but I think the pool guy set the pump to run 24/7.

 

Sucks for you, but makes me feel better. Pool here also, and in the Texas summer heat our electric bill is $500=600 also. A lot cheaper now that the temperature has dropped and the pool equipment is barely running.

 

Have you looked into solar?

Yes, but my house's biggest issue is outdated, inefficient equipment. We're waiting for the 20 year old a/c and 15 year old pool equipment to crap out before we make changes. We also are due for a new roof, so we have an expensive few years upcoming. Solar might be an option when we update the other systems.

Solar panels are great but they obviously only work when it’s sunny. And our peak power use doesn’t usually correspond with peak solar. So if your electric company gives you credits or buys the power from you, then great. If not, then you need to look at some type of battery to store the power. I know Tesla was working on the Powerwall, but not sure if it’s commercially viable?

For Pete’s sake though , don’t put them on the roof.  Build a rack out back to install them on … if your lot is measured in inches …. Good luck.  You’ll spend  as much as you save later paying a roofer to work around or move them.  That’s the best case. Worst case is leaks if you’re in a rainy area. 

True, and roofs don’t last forever. Shock.

Leasing = bad idea. Sometimes people sell their houses.

Warranties rarely transfer.

But, yeah. You do save money overall. The arithmetic is simple.

If you have an electric water heater, that can be about 30% of your electric bill. All you need is a solar hot water heater at less cost for a big savings.

 #4 at a muni by my house. There isn’t a 3”x3” area on those panels that isn’t shattered by a ball 😂

So thankful I don't have to play anyplace that looks like that.  Must be stressful as hell playing there. (And living there)