Is solar worth it?
I got a quote from solar city to put solar on our personal residence. Our house is pretty large and our average electric bill is $275 a month. If we got solar the total costs for the system would be $33,000. But according to solar city that is all tax deductible meaning I would save $11,000 on my taxes. They offer a 30 year payoff program that basically means we pay $280 a month total (pay them and electric bill). The solar would save us $130 a month in electric.
On the surface it looks like a decent deal.
1. I pay a little more each month, but save $11,000 on 2015 taxes.
2. I am helping the environment and using less energy.
My questions are.
1. What happens if we sell the house? Does the pay off transfer or are we stuck with those payments for 30 years.
2. They claim this loan des not show up on credit reprt as debt, but I doubt that.
Anyone have experience with solar or see anything I am missing?