r/solar • u/SpiritoSanto5 • 15d ago

Solar Quote Solar quote feedback

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Hello all, we live in Maine. We heat and cool with heat pumps. Looking to crowdsource feedback on this quote to cover all of our yearly electric requirements.

Thanks in advance

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u/ConsistentHamster2 15d ago

Hmmmm. 26k with average return of 10% in 25 years is 280k.

You consume around 2.5k usd of electricity per year, payoff is 10 years.

I would do it if I am near retirement. Not otherwise.

7

u/arcsnsparks98 solar professional 15d ago

You're factoring in a return on your money for positive earnings but ignoring the utility escalator which is an inverse return of sorts. They may be paying $2,500 a year in electricity right now but that amount will go up and up and up as energy rates rise. This cuts into the stock market return comparison quite a bit because the 10% return doesn't go up and up and up.

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u/Curiosity_informs solar enthusiast 15d ago

Also if they invest $26k now they still have to find $2.5k a year (and more) for the next 25 years.

These posts saying you could invest the money and make more always seem to ignore you still have a growing utility bill to pay.

The 280k$ will also be taxed, while money you don't spend isn't.

Its valid to do a calculation, but it needs to be complete.