I thought the same thing. At best he’ll break even in 14 years. A tremendous waste of money.
He should just pay the neighbor part of what he saves on electricity, instead of trying to get the government to use force on his behalf to make the neighbor comply with him.
And what is the life expantency on these panels? Most of them are listed at 15-25 years, so more than likely at his “break even point” he will have to start replacing the system! What a maroon!
Yes, he’s an idiot, but the breakeven point is a whole lot sooner than you think. The US taxpayers are refunding 30% of his cost next April 15. The utility is paying him for contributing to their renewable energy assets in addition to cutting his utility bill - and charging his neighbors more to cover the “solar renewable energy credits”. I don’t know if his state or county gives him something too, but they might. He’ll make out just fine and a whole lot sooner than you think.
It will be interesting to see what happens to all these panels during a hurricane.
I have a friend that works in solar and he says the panels are only expected to last 15 years at best. If his electric bill is $300 in the winter he must have a small indoor marijuana grow going.
In Eighteen years those panels will have been replaced a couple of times, stretching the breakeven point out another twenty years.
I looked into these as I live in FL, 1/2 the cost was Tax right offs... The state also give you a few grand..
Capital cost will be recooped in 16 years 2 months based on an average savings of $335.00/month.
It also assumes the money was free.
assuming he survives a hurrican that wipes out the power grid (again) he will be a-ok.