GON
$150 Site Donor 2025
I am under contract to buy a home that has solar on the roof, of which I have to assume the solar loan as part of the transaction. As is very normal, the installer who warrantied the solar went out of business earlier this year. The panels were installed two years ago. I did quite a bit of hasty research into solar panels for single family homes and only came up with three reasons one should buy solar panels. Of note, if solar panels made sense- private equity would be installing solar panel farms on a large scale- they are not.
Reasons:
#1- you think electricity costs will have significant rise year over year, and solar installed at your residence is a way to hedge against possible substantial increases in electricity
#2- you live off grid, and solar panels offer benefits over a diesel generator (such as not having to have diesel delivered)
#3- you live in the bay area, work in high tech, make big bucks, and need something to talk about with people while you wait in line for your Starbucks
Other than those three reasons, I have yet to identify why solar is a good use of an individual's capital. Of note, I am assuming a $47k USD solar loan, likely worth about $15k USD, and no warranty.
Reasons:
#1- you think electricity costs will have significant rise year over year, and solar installed at your residence is a way to hedge against possible substantial increases in electricity
#2- you live off grid, and solar panels offer benefits over a diesel generator (such as not having to have diesel delivered)
#3- you live in the bay area, work in high tech, make big bucks, and need something to talk about with people while you wait in line for your Starbucks
Other than those three reasons, I have yet to identify why solar is a good use of an individual's capital. Of note, I am assuming a $47k USD solar loan, likely worth about $15k USD, and no warranty.
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