Ecovault Solar
Ben-Engineer
Just wondering how many think solar is a worthy investment.
Is Solar Really Worth the Investment?
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crossy
Solar Wizard
Definitely, but we are in the Far East with easy access to Chinese equipment.
timselectric
If I can do it, you can do it.
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It definitely is for me. But each situation is different.
If it didn't make my wallet happy, I wouldn't have bothered.
If it didn't make my wallet happy, I wouldn't have bothered.
First post on a solar forum. Looks as if this will definitely turn in to one of those:
"Yeah we all have plenty of money so the ROI does not matter, nor does the fact that the entire industry is in historic flux at this very moment making budgeting impossible nor should one factor in just how much money that one has to invest to achieve any possible ROI (money-factored or not) to begin with."
As the guy above said: Money is (or should be) everything when it comes to making your own power.
And as we've learned over the past few months...it really doesn't matter when you've put all of your eggs in one basket and tripped.
"Yeah we all have plenty of money so the ROI does not matter, nor does the fact that the entire industry is in historic flux at this very moment making budgeting impossible nor should one factor in just how much money that one has to invest to achieve any possible ROI (money-factored or not) to begin with."
As the guy above said: Money is (or should be) everything when it comes to making your own power.
And as we've learned over the past few months...it really doesn't matter when you've put all of your eggs in one basket and tripped.
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Q-Dog
¯\_(ツ)_/¯
I don't think of my solar system as an investment, it is an expense. And it was worth every penny. But I guess it all depends on how you define "worth."
wattmatters
Solar Wizard
It depends on local costs, conditions, tariffs, as well as what the purpose of the solar PV system was. Saving money is not the only motivation.
I put one system up to save money and it took ~ 4 years to recover the cost. I put another one up to provide backup power, but then worked out how to modify it to gain better financial outcomes as well. It was on track for a recovery in 6 years.
I also installed them to reduce our carbon emissions (we live in a coal heavy grid) as well as have a new project and to keep learning new things and skills. There is personal value in the process of learning and having an interesting hobby. Not everything is about $. My only caveat was that it needed to not be financially irrational.
I put one system up to save money and it took ~ 4 years to recover the cost. I put another one up to provide backup power, but then worked out how to modify it to gain better financial outcomes as well. It was on track for a recovery in 6 years.
I also installed them to reduce our carbon emissions (we live in a coal heavy grid) as well as have a new project and to keep learning new things and skills. There is personal value in the process of learning and having an interesting hobby. Not everything is about $. My only caveat was that it needed to not be financially irrational.
wpns
Solar Joules are catch and release
Can't even tell, because the goalposts kept moving, but definitely worthwhile in the land of 68 cents per KWHR, with poor power quality and power bills pre-solar up to $1200/month.
Now that power's "free" (up to a point), I'm using way more than before, and doing 'wasteful' things like running the AC in the guest bedrooms on 'dry' mode when there's no-one there. Do I get to count that? I've got 14 MWHR consumption since I put in the EG4 system last year, that's almost $10K.
Plus all of the above. Plus look for a recent thread on payback.
Now that power's "free" (up to a point), I'm using way more than before, and doing 'wasteful' things like running the AC in the guest bedrooms on 'dry' mode when there's no-one there. Do I get to count that? I've got 14 MWHR consumption since I put in the EG4 system last year, that's almost $10K.
Plus all of the above. Plus look for a recent thread on payback.
If you want actual experience over many years the wording of your poll question is fine but you will receive few truthful responses because most people won't have owned their system for that long. If you want opinion (including a calculated payback not actually achieved yet) you need to reword it. The calculated payback of my current system is 7.78 years, but the system has been installed less than a full year.
Daddy Tanuki
Emperor Of Solar
Main house in town, grid tied, 8kw pv system. paid off after about 11-12 years now paying me back.
offgrid DIY system: 30k+ to string lines, plus ongoing costs for maintenance... my system total after a couple of up grades cost 27k so initially at 15 k was an immediate payoff. after upgrades still a daily payoff. run the split pack 24-7 from late april to late october... free. wood heating after that so...
offgrid DIY system: 30k+ to string lines, plus ongoing costs for maintenance... my system total after a couple of up grades cost 27k so initially at 15 k was an immediate payoff. after upgrades still a daily payoff. run the split pack 24-7 from late april to late october... free. wood heating after that so...
crossy
Solar Wizard
This
We originally started playing with solar to mitigate the "somewhat unreliable" grid here in sunny Thailand.
Madam rapidly noticed that it was also reducing our power bills each month, despite us only having 8 x 300W panels.
We now have >20kWP and 90kWh of storage!!!
"Free" power is addictive! Once you have sampled it you will be assimilated! Resistance is futile!
By the way, I don't know anyone who has got anywhere near 10 years for ROI!
It could be worth it if you're grid-tied with no batteries. I didn't go this route so no it's not worth it. I spent so much money I don't even think about ROI. Sure its great having batteries and when the grid goes down you still have power.
Mike 134
Solar Enthusiast
No if you are in Illinois with rates around 14 cents a KW. I have solar but my equipment was free, and the install was DIY but most do not have my situation.
Daddy Tanuki
Emperor Of Solar
exactly there was not even a split pack installed in my cabin until after i buit he solar system. it was an attempt at using the "excess" which we all know is a worthless exercise as we will find something else to power.
Thanks for signaling that as I never thought of kids doing that any more than what I saw just yesterday involving adults (and I'm sure kids):
Pulled up behind a woman furiously trying to put herself together in the rearview mirror.
She took off like a jackrabbit and turned on two wheels into the nearest self-storage unit.
Locked up/waaaaaaay cheaper than a no-tell-motel and no-limit on guests. I'm sure that a good number of them are very nice inside as well.
Small wonder that these things have been popping up all over.
I (apparently) don't get out much.
I didn’t go into it worried about my roi. My pursuit is for independence and that is worth more than money to me.
My power station setup paid for itself within a month by saving my freezer and refrigerator from some power outages.
The bigger system will probably fall into that > than 15 years category. I’m in it about $2k over the past 18 months and still haven’t completed collecting my parts list.
About $3k left to go depending on what happens with battery and wire prices.
My power station setup paid for itself within a month by saving my freezer and refrigerator from some power outages.
The bigger system will probably fall into that > than 15 years category. I’m in it about $2k over the past 18 months and still haven’t completed collecting my parts list.
About $3k left to go depending on what happens with battery and wire prices.
One other reason that this thread has gotten this far is:
1) The lack of a multi-issue template simply handed out to unfamiliar one-line posters asking questions such as the above
2) A simple time limit for the OP to fill it all out if his or her question is all that important and not a school project or AI .
I don't know how else you get around chasing this stuff on but 10 words.
1) The lack of a multi-issue template simply handed out to unfamiliar one-line posters asking questions such as the above
2) A simple time limit for the OP to fill it all out if his or her question is all that important and not a school project or AI .
I don't know how else you get around chasing this stuff on but 10 words.
Rednecktek
Expert Newbie
As I see it, if there's a viable ROI on your hobby, then it's a job and not a hobby.
But then again I "Play" with solar because in my area solar doesn't "work". It's a hobby and we've all spent money on things that were less useful in our lives.
But then again I "Play" with solar because in my area solar doesn't "work". It's a hobby and we've all spent money on things that were less useful in our lives.
wildbillpdx
Solar Enthusiast
I think your poll misses the point. Not everyone installs solar with the idea of an ROI. I have solar for backup from grid failures, to reduce my carbon footprint, to reduce the amount of power I purchase from Portland General Electric. ROI will happen eventually, but not my primary reason for installing solar.
RvNaut
New Member
- Joined
- Apr 4, 2022
- Messages
- 113
I live off grid in an RV, so solar is crucial to reducing the amount of propane and gasoline I have to buy. In the long run I should be able to cut all household ties to fossil fuels ( still gunna need gas to move the beast ) once I finish the multi year plan to get there. I initially spent $5k on my solar setup and the pay back on that versus buying gasoline for the gen is 4-6 years. But it isn't really about ROI, it is about supporting the ability to not be plugged in, ever.
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