Another article in this week's Sun-Gazette touts the benefits of the "savings" generated by installing a solar system. Using the numbers in the most recent article, the installation cost $120,000 and is expected to result in a savings of $140,000 over 30 years. Sounds great, yes? Well actually this translates into a payback period of 25.7 years to break even. Who would make an investment that takes nearly 26 years to break even? This seems typical of most projects of this type.
OK, the government kicks in a large amount (of borrowed money) to make the payback look better, but the underlying benefit is not really any better.
If you want to invest in solar and wind for the good of the environment, go ahead, but tone down the claims of great economic benefits.
Submitted by Virtual Newsroom