Except that the equipment has a working life span of about 8-10 years. And that $20,000 cost is probably financed by the solar company with a 30-year lien on the property at 6% annual interest.
Most solar electric installations have a negative return-on-investment.
I use individual inverters so if one goes bad the rest still work (this has happened) and they are under warranty for 10 years.
When I did it in 2009 I calculated that I would be even in 9 years and my installer agreed (after then current incentives and tax write-offs).
I am in the 'metered' program with Edison which balances what I put into the system (make more than I use) vs what they calculate that I use from them.
So I went from $1500 per year average ($125 per mo) to about $140 a year average paid once a year.
There is still a delivery charge of less that $2 month for most months.
On the whole I am pleased with my investment and feel I am well served by it.
Rentals, managed by a third party and other schemes that seem to be cheaper will probably not work out that way and I think are designed around the premise you will not stay in your home more than a few years.
We are in for the long haul.
Nope. Paid cash for the system. No liens, it's his free and clear. Not sure what his warranty is. He's had the system for two years now, and electric rates have gone up considerably in those two years, with further increases being pushed by the utility constantly.