Thursday, May 01, 2008

Greener Pastures

Amidst a roof replacement and having seen a local news report, I recently revisited the idea of solar panels.
The (very) rough estimate for solar panels on my house is $45,000 - $50,000. It appears I'd qualify for about $20,000 in rebates which means I'd still have to front $25,000 - $30,000.
There's reason to assume that this system would generate enough electricity to eliminate my electric bill completely but all that considered, best case scenario my share of the investment wouldn't pay for itself for 8-12 years.
Considering that I don't have the $25,000-$30,000 seed money and do have: a mortgage, lots of other home improvements that need to be made, and other expenses, there's no chance I'm putting up solar panels at this time.
I really love the idea of solar panels and all of the benefits they offer, I wish it was easier to do. However, wouldn't it be an interesting piece of legislation to require either all or a percentage of all new developments to be built green.


Joy said...

I didn't realize they are so expensive! It would take a long time to make that investment worthwhile even if someone does have it. New structures should be green (or greener) so at least we could go from there to help the environment.

Chris said...

Joy - Crazy Cash for sure