A Redditor was trying to figure out the break-even point for upgrading their home with renewable energy and how much that return compared to simply investing in stocks.
They checked in with the r/solar community for advice.
"My annual rate of return on stocks over the last 15 years has exceeded 13% to 15%," they wrote in the original post. "Even assuming this drops down closer to about 10%, this means my investment will double every seven years. Assuming I only care about the financial return, if my solar installation breakeven is over seven years, I would come out ahead by just putting my money into the stocks instead."
The original poster came to this conclusion since they were given a nine-year break-even point on a new solar installation estimate. Trustworthy estimates like these are important for anyone looking to switch to solar. EnergySage has a free online tool that can help connect homeowners to local vetted experts and compare costs.
Solar power is a great idea, even if you're only looking at the financial side of things. It can bring monthly electric utility bills to zero or less, even in sun-starved Canada. With the right setup, homeowners can earn credit with their utility provider or bank excess power for cloudier seasons.
Rebates and credits are still available to take the sting out of initial installation costs. Installers found through EnergySage can tap into those incentives and save customers up to $10,000 on setup fees.
Federal solar panel incentives are set to be removed at the end of 2025, so it's best to jump on them while they're still available.
Beyond the dollars and cents, solar panels make a great contribution to a greener future. By producing enough solar energy, we can wean off dirty fuels — such as coal, gas, and oil — that are polluting the atmosphere and exacerbating destructive weather patterns like droughts and floods.
Save $10,000 on solar panels without even sharing your phone number Want to go solar but not sure who to trust? EnergySage has your back with free and transparent quotes from fully vetted providers that can help you save as much as $10k on installation. To get started, just answer a few questions about your home — no phone number required. Within a day or two, EnergySage will email you the best local options for your needs, and their expert advisers can help you compare quotes and pick a winner. |
These have their own wider economic costs, including agricultural loss leading to increased grocery prices and a real estate insurance model that's in crisis.
The Reddit community offered some advice given the original poster's hyperfocus on finances.
|
What is the biggest reason you don't grow food at home? Click your choice to see results and speak your mind. |
Not enough time ⏳ "Some things to take into account," began one reply. "The system will last much longer than seven or nine years, and the cost of electricity will only go up, in my area it always faster than inflation. Once it is paid for it is free electricity."
"Solar panels are an order of magnitude more reliable than your market returns," said another community member.
More From EnergySage
💡Go deep on the latest news and trends shaping the residential solar landscape
Join our free newsletter for easy tips to save more and waste less, and don't miss this cool list of easy ways to help yourself while helping the planet.
