DIY solar/worth the cost?

Roostre · 10-13-16, 10:21 PM

Due to some unforeseen good fortune this past year we have found ourselves faced with 2 things: 1. larger than expected income for '16 and 2. Much larger than expected tax bill coming in April!!

I'm really wrestling with doing a DIY solar, as it is the only viable deduction at our new income level (which will be a 1 year thing, next year its back to normal).

Facts: We have 2 EVs in our household. We use about 25kWh per day for the vehicles alone. On our power plan this bumps us up into tier 3 (14.5c) every month.

We have had 2 large national and 1 local solar company bid the job. All have estimated that we "need" about 10kWh system. Bids range from 32k to 36k. Not going to happen. If we do this project we want to pay cash and that is just beyond our range at the moment.

By browsing the live data from actual installs in my area of similar size I have calculated that 10kWh systems nearby return about $135 per month on a one year average. Our power company does annual reset on net metering with no monetary credits, so it does no good to over-generate.

I've found a quality system (Mitsubishi MLE280W panels and Solaredge power optimizers and Inverter, mounts, wiring, support) for exactly $18170 delivered.

With Federal and State tax credits calculated ($8300) in it's about 8 years to break-even.

This still seems like an unacceptably long time. Especially if you look at other investments that you might miss (opportunity cost).

Would we be better off waiting and just paying the extra $8300 to the gubbermint??

Would a smaller system make sense?

The synergy of having electric vehicles with solar really appeals, but something is holding me back from pulling the trigger. Any insight from the wise eco minded renovators?? Comments?

10-13-16, 10:21 PM	#1
Roostre EcoLearner Join Date: Oct 2015 Location: Rocky Mtns Posts: 113 Thanks: 107 Thanked 26 Times in 19 Posts	DIY solar/worth the cost? Due to some unforeseen good fortune this past year we have found ourselves faced with 2 things: 1. larger than expected income for '16 and 2. Much larger than expected tax bill coming in April!! I'm really wrestling with doing a DIY solar, as it is the only viable deduction at our new income level (which will be a 1 year thing, next year its back to normal). Facts: We have 2 EVs in our household. We use about 25kWh per day for the vehicles alone. On our power plan this bumps us up into tier 3 (14.5c) every month. We have had 2 large national and 1 local solar company bid the job. All have estimated that we "need" about 10kWh system. Bids range from 32k to 36k. Not going to happen. If we do this project we want to pay cash and that is just beyond our range at the moment. By browsing the live data from actual installs in my area of similar size I have calculated that 10kWh systems nearby return about $135 per month on a one year average. Our power company does annual reset on net metering with no monetary credits, so it does no good to over-generate. I've found a quality system (Mitsubishi MLE280W panels and Solaredge power optimizers and Inverter, mounts, wiring, support) for exactly $18170 delivered. With Federal and State tax credits calculated ($8300) in it's about 8 years to break-even. This still seems like an unacceptably long time. Especially if you look at other investments that you might miss (opportunity cost). Would we be better off waiting and just paying the extra $8300 to the gubbermint?? Would a smaller system make sense? The synergy of having electric vehicles with solar really appeals, but something is holding me back from pulling the trigger. Any insight from the wise eco minded renovators?? Comments?