Not really car related, but it is a Car company.
Sign me up… IF the price is low enough and it is hurricane rated.
Looked into a grid-tie solar system for my house a year ago. Even with the 320+ days of sun, the economics don’t work yet with our cheap electricity here.
You must have extremely low electric rates. Because the numbers work out very well at 0.10 a kwh. After less then 10 years the system paid for itself. I’ve done the numbers…and I’d go that route if I wasn’t going to retire in a few years and move to warmer climate.
You’ll pay a little less than you’d pay for a tile roof, and about twice as much as you’d pay for asphalt shingles. However since you’ll also be getting free electricity, if you live there long enough you’ll end up making all that money back unlike a normal roof.
The coolest part is that if you also own an electric car, you charge it for free off of the solar panels, which means you really do stop paying for gas.
I had some free time so I looked up the cost.
The cost is $21.85 sq/ft. Had a new roof put on my house a couple years ago. It was just under 40 squares.
This roof would cost me $87,000.
I don’t think so. Nice concept…Maybe when the price drops to the level of a small economy car instead of a luxury sport car I’d consider it.
It should get cheaper over time, especially if any other companies join the fray adding competition. It’s definitely something I’d consider when we buy our first home
The over time is close to 20 years. To make this viable you need to be young and rich. In some areas of the country it’ll be a 30-50% increase of the cost of the house. That’s huge.
Right now I can get regular solar panels for under $10k and the payback is less then 10 years. If I was younger I’d jump at it. But I’m just now waiting for my youngest to graduate college and then I’m going to retire. Not worth it to me.
Yeah I’ve still got time, my oldest only turns 5 next week
(I’m about to have a 5 year old, where has time gone?! )
Agree that doing a cost analysis is necessary. My house is 2138 square feet and an asphalt shingle roof costs about $10,000 installed. My house happens to have cedar shakes, which cost about $35,000 in stalled but have a 50 year life expectancy.
For the $75,000 extra over asphalt shingles, it would have to pay for my $1200 annual electric for 62.5 years for a break-even.!!! The interest earned on that extra $75,000 at only 2.5% would earn $1875 per year. Clearly very bad economics.
Elon Musk figures there are enough wealthy persons wishing to make a statement and gullible politicians who can bribe their electorate to go for this. Julia Roberts has solar panels on her house but I doubt she did a life cycle cash flow analysis.
Yeah, so can I. But unfortunately the front of my house is the south-facing part, and the fussy neighbor with a perfect house and lawn across the street would shoot me if I put big ugly solar panels on my roof. In the interest of neighborhood harmony, I find the camouflaged panels to be a compelling idea.
Where are you finding 2.5% interest rates available to consumers?
The real money is in the tax credits. Taxpayers will be footing a big portion of this technology.
I agree with others that this does not make economic sense at this time. When it does make sense, everyone will adopt and the traditional power plants will be in trouble. That is easily 20 years away.
They are leasing these things in order for people to afford this technology. Basically leasing the panels with up front cost that is approximately the cost of a regular roof. Then you continue to pay the equivalent of your monthly electric bill. After 30 years you have it paid for, just in time to replace it. The issue with these leases, is if you go to sell your house, the buyer will need to qualify for both the mortgage and the lease. This could limit your potential buyers.
The tax credit accounts for up to 30% of the cost, then going away by 2022. But I wouldn’t be surprised if the current administration does away with it completely - unless he has stock in solar panels (which I doubt).
Buy Ford stock (car-related).
Don’t forget about state credits.
The congress would have to eliminate them. The president can’t eliminate them without congress. I personally think that congress should eliminate these credits along with all similar credits to other industries.
The solar shingle site has a cost estimator. It told me the cost would be $55,000 for a new roof. That is twice the cost for an architectural shingle replacement roof with the same lifespan. I am also skeptical of their estimate. I’d like to see a detailed estimate, but I’m not paying that much for a roof, so it is academic to me.
I checked out this site yesterday after an article in the paper said the solar roof would be cheaper than a conventional ones. Around here that means asphalt shingles with a rating from 15-30 years. We just don’t use tile roofs here.
Here is what their estimator told me for my 36’ x 30 ’ cape cod with a 14 x 24 garage and a 14 x 24 addition.
$58000 for the roof
$7000 for the batteries.
- $18000 federal rebate
Net cost $47000 savings over 30 years $21000.
They also estimated that my monthly electric bill is $178, actually it is just about half that or $90 x 12 x 30 would give me a cost of electricity for 30 years at $32400 . I would lose $14600 plus the investment potential of $47000. Can you imagine what that much money in a total market index fund would be like after 30 years.
I also don’t trust their assumption that these panels will last 30 years without repairs and put out the amount of electricity they say.
They couldn’t even estimate my electric bill by almost 100%.
My electricity with all the taxes and fees comes to about 16 1/2 cents a kilowatt hour. The reason my bill is not more is that I have a gas stove, hot water tank and furnace. If the still made gas refrigerators I would have on of them too.
This is a spectacularly bad idea.
I think the Tesla solar system is overpriced compared to the typical installation.
here is a quote:
As of early 2016, most U.S homeowners are paying $3 to $4 per watt to install a solar panel system, and the average cost per watt in the U.S. is $3.57 per watt. Using the national average for PV system size at 5 kW (or 5000 watts), the average cost of solar: $12,500 (after the Federal ITC discount).
Note that most installations do not need batteries, as they use the connection to the grid for energy “storage”.
Only if you work night shifts. Otherwise, the grid is charging your batteries.
Where in the article did it say they would be cheaper?
No, it has a battery system called the Power Wall which stores energy for use when the sun isn’t out.