CITI: 'The Age Of Renewables Is Beginning'
Renewables energy, primarily solar and wind, costs continue to decline and are increasingly competitive with natural gas peakers and CCGT plants on an LCOE basis.Full Story
#1 Mar 30, 2014
An institutionalized answer in the comments after the article:"@Royce Shupe: Sorry but neither.
Cost to install solar on my roof is $40k including subsidies, tax credits, etc. Priced it out with multiple vendors. Currently I pay about $400/month average over the year here in NJ for electric including the power plus delivery. That is roughly $5000/yr. It would take me 8 years to recoup my investment at that rate.
Even if I generated more power than I use over the year (calculations show that is not probable but if I do it won't be by much) I can sell the power back to the utility company at a small fraction of the retail rate THEY charge. I think it is about 10% or 15% of the cost per KW.
So assume each year I take that 40k I invested in my solar roof panel and instead do nothing more than the 100 year market average return of 9%. Over the same period my 40k invested at 9% turns into $79,702.51. So even if I got my original 40k back I left another 40k on the table that the money could have been better invested in.
Care to explain how solar power is cost effective? Believe me I wanted to put panels on my roof. I'm all in on the renewable and saving money but by my calculations it would cost me dearly to go solar at today's prices. If solar install drops to 20k for my roof or lower then it starts to make a little more sense but we need to see a more than 50% drop in solar prices. Remember solar installation is two parts. The cells and then the wiring, panel, inverter and all the labor cost to install all those panels/electrical too. At some point even if cells cost ZERO there is still a substantial electrical and labor cost. Not that panels are going to zero anytime in the next 30 or 40 years
Read more: http://www.businessinsider.com/citi-the-age-o... ;
So Royce, sit on your thumbs until "somebody" "someday" gets the price of solar down to YOUR liking? Yeah right, 40K in a 100 year market, blah, blah, blah... YOU know electric rates are going up not down any time soon. The average has been 1% a year over the past 30 years. With less volatility, 40K on your roof is as close to a guaranteed return on investment as your going to get. You say a ROI of 8 years at 40K today, but what will electric rates be in 8 years? Do you drive a car Royce? What's the ROI on a car, financing, taxes, insurance, fuel, repairs, maintenance, depreciation and finally replacement after 5 to 7 years? 40K ONCE on your roof and you can decrease or eliminate your electric bill for life. With the solar panel and micro-inverter package, one can increase their system output one panel and one micro-inverter at a time until their energy goal is met or exceeded.
Since: Mar 13
#2 Apr 1, 2014
And the fossil fuel companies are laughing all the way to the banks they own.
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