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The Water Cooler
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Solar Panels for the home - school me - why isn't everyone doing it?
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<blockquote data-quote="Glocktogo" data-source="post: 4023234" data-attributes="member: 1132"><p>Solar isn’t priced based on the cost and value. It’s priced on what they can get people to pay and how much they can fleece taxpayers out of. Finance companies love it, because at the terms you describe you’re paying them $752 in interest for every $1,000 you borrow.</p><p></p><p>So if you’re paying $50k for the system in price, it’s costing you $87,600 overall. Don’t forget that your tax credit over that 5 years is only up to your total federal tax liability. So 30% might not wind up actually being 30% net to you. I doubt they tell you that when they’re selling you on their system. </p><p></p><p>If solar was really the bargain they claim it is, they wouldn’t have to use other people’s money to sell it.</p></blockquote><p></p>
[QUOTE="Glocktogo, post: 4023234, member: 1132"] Solar isn’t priced based on the cost and value. It’s priced on what they can get people to pay and how much they can fleece taxpayers out of. Finance companies love it, because at the terms you describe you’re paying them $752 in interest for every $1,000 you borrow. So if you’re paying $50k for the system in price, it’s costing you $87,600 overall. Don’t forget that your tax credit over that 5 years is only up to your total federal tax liability. So 30% might not wind up actually being 30% net to you. I doubt they tell you that when they’re selling you on their system. If solar was really the bargain they claim it is, they wouldn’t have to use other people’s money to sell it. [/QUOTE]
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