Who is your utility and what part of the country? My panels are earning me about 12% per annum post tax, low risk, with insurance against capital loss (home insurance in event of hailstorm, hurricane.) I don’t see stock market investment opportunities competing.
I am in new england, electric rates are a lot less here (for now anyway) than CA (if that is where you are), and thus the calculations for you may be better than they are for me.
Its been a few years since I did the math, but last time I was quoted about 60K for a complete system - 60K at 5% dividend (NGG at the time), would give me $3K per year, enough to cover my bill.
AT the end of 20-30 years, a solar system will be worth nothing, or almost nothing, whereas I will still own the same stock in the same company hopefully the stock will have appreciated as well), and will still be covering my electric bill.
This of course makes lots of assumptions: I need to invest in company that will still be around for decades, that electric costs don't go thru the roof during that time, and the dividend doesn't go away etc. - but also would have to make assumptions about how long a solar system would last - its impossible for any of us to see out 30 years, but for the time being, I feel like on a purely financial basis, it didn't make sense for me today.
But trust me, I would love to pay one sunk cost today and not have to pay an electric bill for the next 30+ years, if only I could see that far in the future with some certainty.
I’m in Illinois. $60k definitely ruins it. I wonder if you could find a more pragmatic vendor. I got a $55k quote but ended up finding 10.5kw for $22k and was happy with the work, financial health of vendor and warranties. After federal and state credits I’m paying back in several years and making money on the next 14-20. I may also need an inverter replacement between years 10-15 for a few thousand.
We have some of the cheapest rates in the US, due to our nuclear, so our state incentives are fairly good to compensate. Nuclear may be discontinued, but given recent events I’m less sure. Either way I think we only have upside on the ROI due to rate changes.
