Tesla Solar Panels Cost and Honest Performance

Nearly a year ago, I posted a raving review for Tesla Solar panels. Since then, I've received hundreds of comments about the costs and ROI of the entire Tesla solar system. Now, equipped with even more data from the Tesla app, I've decided to take a closer look into the costs, performance, payoff date and the wisdom behind my financing decisions.
My system is a 7.15 kW system of 22 panels and one 13.5 kWh Powerwall.
Contents
0:00 - INTRODUCTION
2:08 - HOW MUSCH DO TESLA SOLAR PANELS COST?
4:47 - HOW MUCH DO YOU SAVE ANNUALLY?
6:29 - WHAT IS TESLA SOLAR PANEL ROI?
9:59 - WHAT IS THE SOLAR LOAN COST?
10:47 - ARE THE PANELS SUFFICIENT FOR MY ENERGY NEEDS?
12:31 - HOW QUICKLY TO TESLA SOLAR PANELS DEGRADE
14:32 - HOW MUCH ENERGY DO TESLA SOLAR PANELS PRODUCE?
I am making no attempt to make this data look better than it is, however, one thing I failed to mention in the video is that the panels would be paid off faster if we used more energy. Because we are away right now, we aren't charging our car and the solar panels are producing thousands of kWh that aren't being used.
RESOURCES
THINKING OF ORDERING TESLA PANELS? SAVE $$$ USING A REFERRAL LINK:
www.tesla.com/referral/ben25479
The CSV I'm using in this video can be downloaded here:
neverbenbetter.com/downloadab...
Loan Calculator:
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Other Videos:
Questions I wish I had asked when I went solar:
• ASK THESE QUESTIONS BE...
My Tesla Solar + Powerwall Review
• TESLA SOLAR + POWERWAL...
Powerwall Energy Bill Analysis
• Is the TESLA Powerwall...
When is Debt an Asset? - How to use a cash-out refinance
• When is Debt an Asset?...
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Song: Desmeon - Hellcat
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[@capvent]

Your videos are very well done and super informative. Always appreciate the time it takes to make so keep them coming.

[@hobbes5043]

How reliable on these panels? How good is the installation job? What happens if your roof is damaged, do you factor in the cost of replacing a roof when it's got solar stuck to it? There's a lot of commenters acting like once you drop panels on your roof they stay there forever and life is great. The actual cost is going to be higher than just initial costs minus electricity savings.

[@rednuts903]

Exactly, maintenance costs are one thing but what battery lasts 20 years with no degradation. What happens to your mobile phone after a few years will happen to these power walls also. And if cheap panel are used or insufficient how good are they after 10. Would love to see the efficiency after 10 years

[@UK-Expat-in-USA]

I am so glad I was not over charged like you were for your system I had a 8KW system Solar System and 1 Tesla Powerwall installed for $23,350 here in Las Vegas and that included all taxes and installation - I will get a Federal Tax Credit of $6,071 and $3000 incentive back from NV Energy of $3000 towards the Tesla Power Wall.... Which means after tax credit and incentive my system will have cost me $14,279.... and yes I can back these numbers up with real invoice :) Plus I paid cash so I own my system with no finance!

[@neverbenbetter8225]

This is awesome. Thank you so much for sharing.

[@gregpoulin8210]

That's the way to do it.

[@archer111000]

We got solar on our home last summer (home built 2016, solar installed 2019), no storage for excess. We're expecting an 11 year payback on those. Cost was similar to Ben's, and our monthly electricity bill was also in the $200 area. We did intentionally oversize the array because we suspect we'll own an electric car in the next few years.

[@neverbenbetter8225]

Thanks for the commenting!

[@weldo1948]

Really liked your presentation - clear and thorough. I downloaded your spreadsheet , which is in the Excel format. Would you please post a link for download in the Apple Numbers format? Thanks!

[@pf4773]

I'm stunned at how much was spent! Fortunately I don't need a powerwall due to dependable utilities in my area (rare power outages). That's the problem-powerwalls are expensive! My total charge for 7300kwh of power (a 4.42 kw system) was $8800 (less $2300 fed rebate) for a total of $6300 approx). As long as the customer gets back his investment that's all that matters :). Thanks for this review.

[@Johnbateson1]

Love the breakdown and like you I love playing with the numbers. They will never be 100% until you complete them after the fact which is then a review not a forecast. You have to have an idea, set a plan in motion and adjust on the fly where you can. Great effort and keep it up.

[@neverbenbetter8225]

Really appreciate the encouragement! You know, it’s funny. I recorded several minutes of myself talking about numbers I was entering into a spreadsheet. When I made cuts, I thought: “but this is so interesting!” Then I remembered that I am probably a minority in that opinion and most people won’t watch a 35 minute video.

[@martynyholt2228]

@@neverbenbetter8225 spreadsheet nerds rule! But remember, formatting is your friend...

[@frapeyou]

paying it off in 13 years is still over 7% a year RISK FREE RETURN

[@Mrbfgray]

Thanks I was looking for that ROI number without suffering the entire vid. Not a great return but OK and getting better all the time.

[@shaynegadsden]

Honestly its pretty bad you need factor that over that time frame both the panels and battery will degrade in performance with the battery being guarrenteed for 70% at 10 years which is when the warranty expires so that 13 years could easily end up 15 years or more if your powerwall lasts the entire time

[@TheLotw]

The amount you are calculating for the payout is wrong, remember the average power bill in Commiefornia goes up 9%+ a year or like last year it went up 14%. So years to pay off will be a little less.

[@neverbenbetter8225]

True. If I had a nickel for every word I wished I had said in a video after I posted it, I could also pay it off faster.

[@21boxhead]

IM GUESSING YOU HAVE EDISON POWER OR PG&E THEY ARE 100% THIEVES PRIVATE POWER COMPANIES IM GLAD I HAVE POWER OWNED BY THE CITY NOT PRIVATE POWER COMPANY

[@KJSvitko]

A generac back up generator costs approx. $6,000 With solar and battery storage that is part of your savings. A generator has no payback.

[@gregpoulin8210]

I'm thinking about solar. Main reason is , I want the peace of mind that I will always have power available, nomatter what..

[@neverbenbetter8225]

Yeah, that was huge for me too.

[@schoolofbasketball2915]

Hey, was wondering what type /make of solar panels you’ve got installed?

[@neverbenbetter8225]

They are Tesla solar panels

[@ahoblit]

So essentially you’ll save about $100 a month on power until the unit is paid off. Then you’ll make about $100 a month from the power company until your unit kicks the bucket and badabing badaboom we do the dance all over again. I’d say great investment 😃

[@keithobrien4370]

How much would it cost to stick with the grid no panels

[@rololac7166]

Hi Ben, with the credit you accumulate with SCE, what happens to that credit? Do you just keep collecting credit until you use the credit or do they cash you out at a certain number. I am looking to get just Solar Panels for now (no batteries) but I am looking to purchase more panels than I currectly need. I want to future proof my purchase compared to what I need right now. I live in NorCal and we have PG&E so I assume they run their solar programs similar to SCE. Thanks for the videos, great source for information.

[@neverbenbetter8225]

Great question. I don’t think SDGE is doing this out of the goodness of their hearts, but because the state of California regulates their business. It probably will be very similar up there. Last year, I had a credit that they passed on to the next year. This year, I think they did the same but my true-up date just passed so I will have to look into it. If they do send me a check, I will follow up on this comment.

[@vitaliyfursov2011]

PG&E has time-of-use program I think. So my suggestion is: install 8kW system, so you can lower your bull. That's all. 8kW system is pretty much your max if you have 200amps main panel. And another thing you must know to avoid been screwed is how to calculate your system size. If you have 1 inverter - it's size of inverter output, if you have microinverters: it's max continues output of inverter * by # of inverters. As u see size of your system has nothing to do with wattage of solar panels :))))) so get panells bigger than your microinverter!

[@GSIN24]

so its about 180 bucks monthly to finance the panels in your situation ?

[@larryhill7563]

Thanks

[@robertbiskup3670]

Great video. I didn't see you compare/factor in the savings from having to replace the roof over the 20 year (warrantied) span. (regular roof change costs + regular utility electricity use vs longer lasting roof + power generation). And are you getting paid when putting excess energy back into the grid?

[@neverbenbetter8225]

To be clear, I did not order a solar roof. That product was not available at the time. I just had panels installed. I don’t get paid, but it give me a credit which I can draw from in the winter or when the weather is poor.

[@robertbiskup3670]

@@neverbenbetter8225 got it! Thanks for the clarification; I stumbled on your post following a tesla roof installation

[@mattweisbart4061]

Hi Ben. I appreciate your thoughtful and detailed videos. I have been thinking about going solar for years and I finally decided to sign up with Tesla today! I used your referral code, so $400 to you. I wish you all the best. Matt

[@neverbenbetter8225]

Hey Matt. Thank you so much. As you know from watching this video, I myself have gotten pretty psyched out by searching for the negative, but after everything I myself have experienced, I can only recommend Tesla without reservation. I hope you are completely happy. (I also hope that, after watching this video, you know full well going into it that it will be a while before you are activated!) Take care.

[@neverbenbetter8225]

Clarification: I had them wrong context in mind. I made a video about the referral policy in which I explained that it takes several months between when the panels are ordered and when your system is activated. There is permitting, installation, approval... it’s a long process, made longer by recent increased solar demand.

[@mattweisbart4061]

@@neverbenbetter8225 Hi Ben. Thank you for your reply and well wishes! I'm glad to know that you are so happy with your Tesla experience. I got quotes from a few solar companies and found that in terms of cost, none could even come close to competing Tesla. I also put a lot of thought into whether to get battery backup and I decided not to buy them, though I like the idea of having them in case of power outages. I decided to buy a small system because even though it won't completely offset my electricity usage, it will significantly lower my bills and I think it should pay for itself in about 6.5 years. I figure that in the next few years my wife and I will both be driving electric cars, so we can increase the capacity of our system if needed. My only current concern is that I waited too long and I won't get the 26% tax rebate this year. Tesla says that in order to get the rebate for this year, all documents must be returned by December 1st and the customer accepts the provided installation date! Hopefully, they can send me the installation date by Monday! How long did it take for the project manager to contact you after you placed your order? Do you think they get it to me this weekend? Also, what do you think about buying a smaller system instead of one that would more than completely offset your electricity bill? Thanks so much! Matt

[@neverbenbetter8225]

I’d like to give you an optimistic reply because I have found Tesla usually under-promises, but if they did not give you a date, I think it’s going to depend on what demand is like in your region. Because of the deadline, you probably aren’t the only homeowner who’s trying to get it in before it’s too late. I think it would be wise to talk to your tax accountant. There may be a creative way to get the purchase to “count” for 2020. You might also find answers on online forums as I’m sure other people have the same question you have. What do I think about the size of your system? Personally, this is not about economics for me, but politics. I believe the vote you cast with your dollar is louder than the vote you cast with a ballot. I made my decision because solar /renewables is the direction I want the world/nation to go and I think supporting businesses that are in line with my vision is something I can never regret. Of course, I like being cost effective and the rewarding feeling of getting a tax credit, but whenever I doubt myself, I take comfort reminding myself my actions are based on more than just money. I say this because I have definitely made miscalculations. Perhaps you have made miscalculations too. There are just so many factors to consider. Clearly, you have done your homework and the decision you have arrived at is reflective of your values, financial situation, research, and foresight. I think that’s great. It sounds like you are asking me if a system that is only large enough for some of your usage is financially wise. Here are some things to consider: 1. With the Tesla app and a battery, you have precise control over when you dependent or independent from the grid. Without a Powerwall, you will be off/partially off grid while it is sunny on on the grid when it is not. 2. You must understand how you will be billed. If you are on TIme of Use and those are the hours when it is dark and you don’t have a battery, you will save very little money. 3. You must understand how your energy company will credit you. Well they credit you one to one? If so, this makes it more affordable when you are on time of use. 4. Your panels will produce less over time or as they get dirty. Because I produce excess energy, I don’t really notice this. If you start with panels that don’t supply all your needs, you will notice this immediately. If there are months when it is especially cloudy, you will be frustrated because it will seem like you paid so much money for panels, but simply because of weather, your bill is much higher. Those are all of the tips I can think of for strictly financial advice.

[@Kevin-hb7yq]

Loved the video! Insurance costs likely changed as well. not replacing any more shingles goes in there someplace no data on roof (not the panels) maintenance since installed, so hmm. Should probably include some projection of panel lifetime and production since it continues to Earn for that duration. If anybody out there honestly believes that a 10 or 15 year ROI is bad, they probably don't own a house or car, and clearly need better real world math skills.

[@neverbenbetter8225]

The ROI could be better for panels, but what you say is true. Since you asked, we have a new roof, too.

[@shaynegadsden]

The general roi for grid connect systems here in Australia is 3 to 5 years the panels generally dont cost anywhere near that with a 5kw system using LG panels costing around $7000aud after the rebate or roughly $5400usd so 13 years at best is extremely bad not to mention that while the panels are covered by warranty everything else in the system would have past its warranty date

[@baileym4708]

I mean, the way I look at it, if you break even at 13 years but get say $400/mo. (conservative inflationary cost increase) relief from electricity bills for years 14-24 (10 years), that would be a savings of another $48,000. Obviously, the return will be greater when the costs of electricity has risen and you would benefit having the Powerwall and not using electricity from the grid in the evening during peak times.

[@ryanlyle5477]

I live in SD and I just do the EV TOU 5 plan which you don't actually need an EV for. From 12am - 6 am my rate is only $0.08 a KWh. Makes charging my tesla dirt dirt cheap

[@lacuzon39000]

Depending on your location , you could install a “ juicebox “ electric vehicle charger close to your driveway and rent your parking space to electric vehicle owners by the hour ! Good way to covert your system.

[@lengleng6985]

If you use everything electric, including heating and water heater etc. will you save more monthly by getting rid of gas

[@neverbenbetter8225]

Yes. I would probably need more panels and another Powerwall. As it is, we have an electric dryer, but we only use it during the day because it alone can deplete the Powerwall so quickly.

[@davetravels9273]

@@neverbenbetter8225 It's also about how efficient your appliances are. You could save more by replacing your current dryer with a condenser dryer or your HVAC systems with a heat pump system, but that only makes sense once the ones you have break. ;)

[@gargamelandrudmila8078]

How much would a new roof cost and how much Co2 did u save. These are factors to also consider. This is the cost benefit, risk reward analysis.

[@JTJUlian]

Wait so why are the permits so high? I thought California he a cap?

[@danielcolvin456]

Am I missing something here? you started with the yearly savings of 4051, then you divided that by 12 and somehow got 176... then multiplied 176 by 12 to get 2113. Please correct me if I'm wrong.

[@bcastrapel]

That confused me too but realized he was using more than 12 months of data and divided 4051 by the 23 months of usage info he had to get the avg which equaled $176.

[@samirpurohit6796]

Why no credit from grid included in your ROI?

[@bhavinbijlani]

Did SDGE really pay you the same rate / kWh as you would purchase from them? I always assumed the 'Wholesale' rate SDGE pays for Solar energy is lower than what they charge others to buy it at.

[@neverbenbetter8225]

That’s right. At the end of the year, they pay excess at a wholesale rate.

[@robharmon8224]

That seemed odd to me as well. My company credits kwh at 2.81 cents but charges 3x to 10x per kWh. The breakdown should be hourly to get an accurate accounting, net math doesn't work.

[@EarlBalentine]

I still don't see how the ROI is worth it. As family's grow they sell their house and buy a bigger one. I'm 70 and have bought 14 houses during my life and one house I lived in for nine years and all the other houses I lives in from 3 years to 5 years. I suggest buy a house that already has the solar.

[@ashanmendis8091]

but you get new roof and hedged electricity prices (13 years prices will likely to rise)

[@terrya6486]

If you added in the cost savings of not buying gas for a car your ROI would be closer to 6 years just like mine is.

[@neverbenbetter8225]

This is a good point, but I think I would have to bundle my car and panels together as a “package” deal and ask how long it would take to pay the price of both.

[@impactproformance]

It's a great investment, if you can install it. 10-15yrs from now technology will be better, the old panels and battery will be mid tier at best. Id avoid installation costs tbh.

[@Mrbfgray]

It's getting cheaper every yr while Cali utilities will likely continue to become more outrageous due to our retarded government.

[@thomasjacques5286]

We need to start taking RMDs from our IRA and don't need the money. So we will pay cash. Given the state of our Power Grid (from both INTERNAL and EXTERNAL actions) and constant rising energy costs we decided to splurge and go solar with 2 Power Walls for our 1800 sg ft 2 bed/bath villa that is 5 years old here in southern IL. So far all three estimates have been in the low $40Ks before any incentives. The quotes were all similar in that they recommended a 12.x kWh PV array with 2 PWs. Based on usage and consumption data I provided I was informed I could essentially GO AS FAR OFF GIRD as legal in my area with my current power provider. But sadly Tesla doesn't have certified panel installers in my area and I will need to go third party. We have one more consultation this morning with a highly recommended company in St Louis (Straight Up Solar) and will select a contractor from the quotes we have received. Our only concern is our HOA restrictions don't allow solar panels. 2 years ago our state legislature enacted legislation that prohibits HOA's from denying solar installations but I keep reading where they do forcing the homeowner to hire lawyers. I hope my HOA when presented with a copy will grant my request. I'll be the first in a new 75 home subdivision and I know there are many other home owners that want solar.

[@erickessler6094]

Ben, I loved your video! Say: Don't forget to subtract the cost of a new roof if you purchased a home that needed a roof.

[@matthewho1877]

I've a 5.7kW system (LG panels + Powerwall 2) installed in Sydney a few months ago, and paid half of your cost. Just wonder how many panels have you put on your roof?

[@neverbenbetter8225]

I have 22 TESLA panels. Who did your install?

[@matthewho1877]

@@neverbenbetter8225 "Smart Energy Answers", is the name of the company.

[@matthewho1877]

@@neverbenbetter8225 Have you join a Virtual Program Plant program? It could give you back a little bit more credits.

[@tamask001]

In Europe you can get a 7kWp system for around $7000 in parts and a bit over $1000 fees and installation. These Tesla prices are shocking...

[@vitaliyfursov2011]

@@tamask001 Even stupidity can be measured in USA in Dollars.

[@EverythingiPodTouch]

Where at in japan? We just came back from yokosuka for 3 years.

[@neverbenbetter8225]

Iwakuni!

[@EverythingiPodTouch]

@@neverbenbetter8225 awesome I've been there a few times. Really just to fly out of there haha. But awesome hope you're enjoying it!

[@neverbenbetter8225]

Thanks. It’s Japan in a pandemic. I’m sure you can imagine: we lost the opportunity to visit other countries in Asia, but it gave us a chance to really get to know this region.

[@FreekHoekstra]

Don’t forget that the property value also went up the day it went live. So that really means it is making you money almost from day 1, because if you sell the property, youkd get (atleast most) of that investment back right away. Ultimately its always complex to calculate ROI, but its better then just costs divided by monthly savings :)

[@neverbenbetter8225]

Absolutely. Also, when we are away, (military family) we rent our home on AirBNB and advertise green energy and uninterrupted power. It’s hard to determine the direct effect it has on the people who rent with us, but I’m sure it is a factor for some.

[@FreekHoekstra]

@@neverbenbetter8225 100% im sure it would be a positive in my book, to tie that to a dollarvalue is harder, but it atleast increases interest, more demand means higher price.

[@ek9772]

Since you added the price of your solar system to your mortgage the correct payback is as follows: $27,746 / ($118.86 x 12) = 19.45-years this is at a rate of 3.125% for 30-years. $118.86 is the monthly repayment. Without interest it would $77.07. $27,746 / ($182.80 x 12) = 12.65-years this is at a rate of 4.98% for 20-years. The reason for including both the 20-year and 30-year loan monthly repayment amount is that it was not clear from the video which one you got. The second step is you need to figure out your actual average monthly electricity consumption. Add any taxes per unit of consumption (kWh) you would normally pay. You the taxes back since they are part of your expenses. If your production is above your consumption for each month, the last two steps will be correct. Otherwise, you will need to correct for those months when this is not true. So suppose your average monthly annual consumption is $100. Add this to your average monthly loan payment. Multiply this by 12. Take the amount paid, $27,746, and divide this by the last number you calculated. For instance, ($118.86 + $100) = $218.86; $218.86 x 12 = $2,626.32. $27,746 / $2,626.32 = 10.56-years Now to understand financially what happened. Take the loan portion corresponding to solar, $118.86, and subtract from it the average energy consumption you were paying, $100. The result is $18.86. This is your actual cost of your solar installation per month with financial expenses (interest paid). In your case, this cost is not correct since you will have to replace the Powerwall at some point in the next 15-years. Despite this. This is not too shabby overall.

[@neverbenbetter8225]

Technically, the payoff period is exactly 30 years. $27k doesn’t take into consideration the cost of the interest, which is why you are getting ~19 years. For this part of the calculation, I just did cost divided by yearly savings DUE to the panels, which is how you would calculate ROI in general. After all, if the panels are saving me more than $118.86, so how else you account for the excess amount if you don’t count it towards paying down the panels? When we get back from Japan, I will be driving my Tesla again, which I can change at home without an increase in my energy bill. That is an additional benefit not considered in the numbers I have looked at here.

[@pathfollower]

If you think green energy is too expensive for you, people in my economic class really get screwed. I'm talking about the tax credits. People who don't make enough to pay that much in taxes can't take the full credit. So only those who are already making serious bank can collect the full credit. So why is it only the wealthier people get to collectfull credit on going green on either house or car? I'm looking at buying an EV for retirement but will recieve almost no relief from Tax credit. I feel a credit that could be actually taken as a refund as long as it was applied to the product would be a fairer way to distribute.

[@Illswyn]

I'm considering how to roll over my 401k to create a tax burden, as a last resort if I can't increase my income enough in the next few years. Married with 1 income that I expect to get back all of my tax paid. But at least I do have significant savings in a 401k to work with. But I won't see that money for 25 years or so.

[@pathfollower]

@@Illswyn Could be a great idea if done correctly. If you could roll over part of a 401k to a Roth IRA, and only owe taxes, and not the 10% penalty, that could work out very well. Use tax credit to pay the taxes on the money rolled over. Then you buy Tesla stock with the Roth IRA money and never have to pay tax on your 5 or 10 or 20 times gain down the road.

[@imushavem7504]

Because big tax breaks have never been designed for average tax payers in the U.S. This is painfully clear to most working class people.

[@kevinhe7]

Probably going with a finance choice is a better idea. E.g. Sunlight Financial.

[@proteslapower930]

If we break it down to FIRST PRINCIPLE ANALYSIS type thinking on how we could get a Tesla in our driveways quicker, maybe we need something like Tesla Financial Essential Insurance? What if Tesla shareholders had a type of long term financial plan in place possibly with Tesla insurance being a subsidiary? I think we would all have a Tesla in our driveways sooner. This makes sense because not only will the Tesla last at least twice as long as a regular ICE vehicle but a Tesla will cost less than half as much to own, operate and maintain for the most part.Tesla shares are now at least doubling annually in most cases. Taking all of these points into consideration an EV buyer will have less expenses and the EV resale value will be higher making longer-term financing more acceptable. So if you agree or have some additional ideas to add please let me know. I appreciate all of you and your comments. Now this time, we can fix our future fast! [e-mail]

[@shane274]

Don't forget to add the replacement cost of the battery and inverter which will definitely fail long before your solar panels fail.

[@Mrbfgray]

Sure about that?

[@shaynegadsden]

@@Mrbfgray yes the panels have an 80% 25 year warranty so after 25 years your panels will generate a minimum 80% of their rated power however the powerwall is a 70% 10 year warranty and if you look at lithium battery degridation charts you see a steady decline in capacity the depending on its rated cycles the capacity then falls rapidly

[@Mrbfgray]

@@shaynegadsden That sounds wrong about the batts as they typically lose cap fastest when new then taper off. Newer cell types should last decades but I don't see why a Powerwall is anywhere near as expensive as it should be compared to EV batts. In any case replacement batts will be vastly cheaper in a decade then today.

[@myselfdotcom]

You should update this video with now $15k additional powercell!

[@peters972]

Everybody gangsta till they try predict healthcare bills. Seems like other bills are more easy, you can save 50 here and there and calculate things down to the cent. Great! But with the healthcare bills, I feel very uneasy. Seems like there could be something unexpected anywhere from $20 to half a million, or more. I get a bill from insurance saying ” $12675: you may have to pay this”. Luckily I didn’t have to (yet), but that kind of makes fun of us all, right? I envy people in England and France. The worry of having to call scores of 800 numbers trying to work out with insurance when I’m old and sick is extremely terrifying.

[@neverbenbetter8225]

Yes. The way I see it, everything I save and invest is to pay my (or my family’s) health expenses. It’s not an “if” but “when”. I don’t have health expenses today, but that’s whyI’d like to use this time to prepare for the future.

[@chaleeroc]

Is the tax credit given to you prior to financing?

[@neverbenbetter8225]

No. It’s not. In fact, with the solar loan we used at first (and paid off in full when we refinanced) you have to promise to give them the entire rebate, otherwise the rate changes.

[@vitaliyfursov2011]

tax credit given the tax year you file tax. by federals.

[@teranova5566]

Ok, I don't know why nobody noticed but I have to add this obvious thing. The total cost of the system is with the finance, so for 5%, it is 43873.18$ and you save only 2113.86 $/year. The total time to return the investment is: 43873.18 $ / 2113.86 $/year = 20,76 YEARS. This is a bad investment because powerwall has only 10 years guarantee and pannels just 20 years. A lot of work for almost nothing.

[@vitaliyfursov2011]

Ladies and Gentlemen! Remember you can save only what you spend. So open your bill and check how much you've paid for electricity per year! And that's all you can save.

[@davefroman4700]

Meanwhile the cost of going Solar has continued to decline.

[@sassy-pants]

My ROI would be 20 years, not reasonably a wise choice for some

[@dulistanheman]

This is almost like you pay electric bill about $250 to $300 monthly upfront 😅

[@JenMarco]

It’s not going to take 13 years because the price of electricity goes up every year

[@dosomething6776]

Don’t forget the panels will increase the value of your house. Also makes it more attractive if you ever look to sell.

[@hdrones6697]

If you would of tossed that 40k into crypto instead of stocks you’d have paid off you’re mortgage and the panels by now 😅

[@neverbenbetter8225]

In general, I won’t buy something I’m not willing to invest in. I bought TSLA! :)

[@ezerratchaga]

He bought Tesla 2 years ago which has outperformed bitcoin by a huge multiple.... Tesla would have 10x or more for him...

[@Mrbfgray]

Yeah crypto sucked compared to owning TSLA.

[@vitaliyfursov2011]

I would say paying 40000$ w/o telling us how much you paid for electricity per year before..... is stupid! on top of that the system size is 7.15kW. so your solar array is not producing even 40amps, which is max allowed with 200amps main panel. My friend you've been fooled. And yes it's a good idea to recover some by doing youtube channel. 40 thousand dollars added to mortgage. Dude that's so stupid.

[@shaynegadsden]

First he pointed out there is no before power bills since they did the solar straight away on the house second there are many factors that can limit the amount of panels you can have besides maximum input current, avalible roof space is normally the biggest and while i dont think adding it to the mortgage was a bad idea i do beleive the price was hugely excessive

[@774kblake]

SERIOUSLY?! I'll check back in 30 years, the time it takes to actually see if the literally hundreds of electric connection failure points (rather then less than 40 of a conventional panel system) have held up. I give it a 3% chance of lasting that long without failure of many electrical contacts. Reviewing a solar system after 1 year is like reviewing the dependability of a car after starting it in the dealer parking lot and driving it less than 5 feet. BTW- when 50% of the system stops working after a few years (check your paperwork- NO production guarantee, just that it is working, so can be 10% function and considered still "working") you will have a roof full of stuff that is costing you every month, not saving you. Next time invest in a PROVEN solar panel system and a panel manufacturer that has been in business over 30 years. Just my 2 cents having been in solar since the 70's.