After 10 years, given depreciation, you should assume that the system is worth less than 20K. I'm not sure how much home buyers will credit the value of a system. If you live where there's a risk of hail damage, keep in mind that there's the risk of a hailstorm damaging the panels, or the roof that it's sitting on. I'd imagine there's a little more work to remove and reinstall the panels when the roof is due for replacement.With the solar system, after the payback period, not considering deprecation, I'll be getting ~1k savings per year. So after 10 years, I'll have the 20k in the solar panel itself + 10k total in saving = 30k. I'm not sure how much the solar panel will increase my house's value when it gets sold, but maybe there's a small bump? Not sure.
At first glance, this doesn't look like a great investment. Consider, if you take the 20K and put it in a risk free investment yielding 5%, you'd also be getting that savings of about $1K per year, but you'd also get to keep the $20K. Strictly from a financial perspective, this doesn't look compelling
Statistics: Posted by random_walker_77 — Wed Jun 19, 2024 1:02 am