Comment on How I Installed DIY Solar Power and Started Running My House on Batteries

• Polisheocket@lemmy.zip ⁨1⁩ ⁨week⁩ ago

  The only way solar adds value is one of three ways:

  1. it’s paid off
  2. it’s paid off 3 ) if monthly payment is less then electric bill

  I’m in a real estate family and I’ve seen solar ruin deals, lose sellers lots of money.

  How does solar ruin deals. Buyer can’t afford monthly payment. How does it lose sellers lots of money, they can’t find a buyer so they will be forced to pay it off.

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  • Squizzy@lemmy.world ⁨1⁩ ⁨week⁩ ago

    I dont even understand where you are coming from. My bills are basically gone, my initial cost was low and it is most definitely a selling point.

    I cant imagine a deal being broken by solar unless the person buying is an idiot ignorant of science and finance or should otherwise not be buying a house anyway.

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    • Polisheocket@lemmy.zip ⁨1⁩ ⁨week⁩ ago

      Just had one where the solar lease was $350 a month. Much more then your normal electrical bill and increases 3.5% a year. 100k to payoff. This is rough estimate but it was a real issue.

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      • oatscoop@midwest.social ⁨1⁩ ⁨week⁩ ago

        lease

        Which is why you don’t lease solar systems. The solar installation field is filled with predatory businesses that will “lease” you a system you’ll never see a financial benefit from – they’ll make a ton of money, though.

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      • Squizzy@lemmy.world ⁨1⁩ ⁨week⁩ ago

        I dont understand the structure here, are people leasing the solar equipment? Can I guess where you are from?

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  • Honytawk@discuss.tchncs.de ⁨1⁩ ⁨week⁩ ago

    Sounds like a local problem in a developing country.

    In Belgium it adds tons of value that people are happy to pay since they will pay less on their electricity bill. And because a lot have EVs, it will lower their driving bill as well.

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    • Polisheocket@lemmy.zip ⁨1⁩ ⁨week⁩ ago

      This is in the US. So,e solar companies take advantage of people, ruining the benefit. Like I said, if it’s paid off or lowers your bill it’s beneficial. If it’s not then it’s a problem

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    • Squizzy@lemmy.world ⁨1⁩ ⁨week⁩ ago

      I am not understanding them at all

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• lemming741@lemmy.world ⁨1⁩ ⁨week⁩ ago

  I’ve got some bad news for you…

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  • Squizzy@lemmy.world ⁨1⁩ ⁨week⁩ ago

    Go on?

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    • lemming741@lemmy.world ⁨1⁩ ⁨week⁩ ago

      Real estate agents are like used car salesmen, they tell you what you want to hear.

      Monthly payments are a wool pull, a trick the finance people use to obscure the real numbers.

      -3925 + 2722 = 30% loss

      If there was a positive return, it’d be cheaper for a buyer to buy without and add it themselves.

      Image

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      • Squizzy@lemmy.world ⁨1⁩ ⁨week⁩ ago

        Its cheaper for people to build a house themselves but they dont because there is value in the works being completed previously and being in turn key condition.

        I didn’t get financing and my numbers showed a 7 year pay back. My capital investment was savings, which immediately reduced my monthly from 250 to zero.

        I dont know what a wool pull is but minimising monthly costs has been hugely positive.

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