0 years since I never invested anything
.I took advantage of low interest financing, no financing fee, no money down. I received 30% of my system cost in my pocket from the government and my calculated "savings" is including interest.
For those well rehearsed in Home Solar Energy ... cutting out the middleman?
- Thread starter alarmguy
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.I took advantage of low interest financing, no financing fee, no money down. I received 30% of my system cost in my pocket from the government and my calculated "savings" is including interest.
OVERKILL
$100 Site Donor 2021
OK, let me re-phrase, how many years will it take you before the financing is paid off?0 years since I never invested anything
I took advantage of low interest financing, no financing fee, no money down. I received 30% of my system cost in my pocket from the government and my calculated "savings" is including interest.
It's a 25 year loan. The ROI without any loan was 6.5 years and Im not assuming any cost escalator.
Power in FL may be cheap but the ~18% tax rate on it hurts.
OVERKILL
$100 Site Donor 2021
OK, so the capital cost is depreciated over 25 years, plus interest.
Have you put any thought into rolling the $298 you save per year into paying the loan off faster? Assuming the $298 is the net of your total FPL grid costs minus your feed-in, loan payments and interest (-$298), you could calculate what that amount would be if you eliminated the loan and interest payments from that calculation. I suspect that would be a much more appealing number.
@thescreensavers
Im curious for no other reason than just curious. Im not sure if it is unique to my Co-Op but I know it is to CA rates.
Our Co-Op pays full retail price to a homeowner when a solar system sells back to the grid. Not that these systems are big enough to do that I think. But just curious about Florida power and light. Im sure it must be less than retail.
Im curious for no other reason than just curious. Im not sure if it is unique to my Co-Op but I know it is to CA rates.
Our Co-Op pays full retail price to a homeowner when a solar system sells back to the grid. Not that these systems are big enough to do that I think. But just curious about Florida power and light. Im sure it must be less than retail.
Yea eliminating the loan would definitely help, I have not really thought about that but I'll have to calculate it. I opted not to put the 30% towards the loan so that we could use it for other expenses.
FPL does 1:1 net metering so when I provide power to FPL during the day(exporting) I can pull back at night. 1kw to them I can pull 1kw back no charge. FPL does have a minimum bill of $25+ tax even if you do not use any power from them.
