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Old 05-15-2008, 07:53 AM   #10
Give me a museum and I'll fill it. (Picasso)
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Join Date: Sep 2005
Location: Northern IL
Posts: 5,430
Well, he does not give much for numbers. just that $45,000 and something about a $70/month loan to pay for the solar panels. He says his payback on solar was immediate, because his loan was no more than his electric bill.


Quote:
But the short answer for the solar pay-back, he says, was "the instant I turned my system on." Dickey had been paying $75 a month for electricity. He took a loan out to buy the PV system, and pays $70 a month toward that loan. "My electricity and gasoline bills are now zero, and next year when my loan is paid off, this investment will be paying me probably for the rest of my life. My PV system covers the power for my home and my car. It displaces $90 worth of electricity and over $100 worth of gasoline every month. So my estimate of how long until the system pays for itself is no time at all!"
OK, he does not give the loan terms, and the comment about the loan being paid off next year - is he prepaying, or was the loan term just 6 years (he said he bought the stuff 5 years ago)? I'll assume prepaying (he should start a thread here ' Should I prepay my Solar Panel Loan?') . Well, at 6% and 30 years, the most you can finance at $70/month is about $12,0000. I don't think that buys you much power, even after rebates (did he thank us for paying him to brag how 'green' he is?).

I think he's holding back. I'm betting he actually has a small water tank in that car, and he generates just enough solar power to start up a resonant circuit to break the water down into hydrogen and oxygen, and he powers the car on that!

-ERD50
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