|
Another viewpoint is that if you have money to invest, where are you going to invest it? Bank one year CDs are paying about 1 % interest. 10 year Treasuries are paying around 2 % interest, and the government keeps threatening to default on them, plus ten years is a long time to tie up money if inflation kicks in. The stock market is a roller coaster and has probably averaged, after all the ups and downs, maybe 3 to 4 % a year the past 10 years. And you still have to pay taxes on all this income.
Or you can put $20,000 in a grid-tied solar PV system for your house. Within the next year, you will get 30 % ($6000) back from the feds as an income tax credit. You will knock at least $700 off your electric bill over a year's time. $700 is 5 % of the remaining $14,000 invested in the system, with no taxes to pay on that $700. And it tracks inflation, since as electric rates go up, so do your savings.
But I agree with the previous post that said that there are more reasons to install solar electric systems than just money.
|