We started researching installing Tesla solar panels and Powerwalls to provide whole home power, get us off the grid, and be able to provide us backup power (during a hurricane).
Even with the 30% tax credit, we were disappointed to find the break-even point for the investment would be 18 to 20 years, because our electric rates are pretty low - around $.11 per KWh.
And because the economics don't appear to work out - there are few homes with solar panels in our area. According to our realtor, they've found it can be more difficult to sell a home with solar panels because new buyers don't like how they look on the roof and aren't interested in having the additional complexity. [On the other hand, installing a natural gas generator is attractive to new owners, and does result in some increase in resale price.]
Plus, with the warranties for the major components, it's likely there would be some additional investment required (such as losing Powerwall storage capacity).
We've asked Tesla to verify our analysis - and they haven't been able to find the flaw in our analysis.
So we're going to table the investment in solar for now, and will reconsider if the prices ever drop enough to make it more financially attractive (though that will be harder without the 30% tax credit).
Has anyone else come up with a strategy for financially justifying an investment in solar panels/Powerwalls when electricity is relatively cheap.
Even with the 30% tax credit, we were disappointed to find the break-even point for the investment would be 18 to 20 years, because our electric rates are pretty low - around $.11 per KWh.
And because the economics don't appear to work out - there are few homes with solar panels in our area. According to our realtor, they've found it can be more difficult to sell a home with solar panels because new buyers don't like how they look on the roof and aren't interested in having the additional complexity. [On the other hand, installing a natural gas generator is attractive to new owners, and does result in some increase in resale price.]
Plus, with the warranties for the major components, it's likely there would be some additional investment required (such as losing Powerwall storage capacity).
We've asked Tesla to verify our analysis - and they haven't been able to find the flaw in our analysis.
So we're going to table the investment in solar for now, and will reconsider if the prices ever drop enough to make it more financially attractive (though that will be harder without the 30% tax credit).
Has anyone else come up with a strategy for financially justifying an investment in solar panels/Powerwalls when electricity is relatively cheap.