SOLAR PANELS

A friend sparked this thought. He asked what I knew regarding a particular solar shingle.

My reply:

Nothing on that particular product. The only “thing” I know regarding solar power at this point in time, is that the ROI is not there yet for the average consumer. The cost of production is keeping the retail pricing at a level where it doesn’t make sense to install it. If a consumer is requesting the product solely based on “saving the environment” or “green initiative” then any solar product would be great. But to lower monthly energy cost, not so great. For typical solar panels it runs about $5,000-$7,000 installed to run 10% of your home. If your bill is $200 per month, then you will save $20 each month. It will take 20-30 years to break even on that investment.

Any disagreements?