Should we buy solar panels now or later?

Question

Right now, we can install solar panels and the system will pay for itself in 7 years. But should we wait for solar panels to get cheaper?

Answer 1

There's nothing on the horizon that will cause any major price break (of course tomorrow Monsanto, etc. may come up with some miracle breakthrough, but it would a few years to get it to the commercial market) (and no, I don't "know" anything -- that was just a pure speculative example)

Bottom line: buy now, but shop around for the best deal.

The only other thing that would drive the price down is if demand were to drop, and I don't see that happening either.

I am an EE and I keep up with the latest stuff (like 5 years ahead of what's commercially available), and I haven't seen or heard of any major breakthroughs in solar cell efficiency that are commercially viable.


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Answer 2

From my research, seven years is a good return rate, it's usually 15-18 yrs as determined by the various Solar Savings Calculators. You must be in a very sunny area, and must be getting a good rebate.

If you can afford to buy solar panels now, do so by all means. You can find a local solar installer at findsolar.com

I also recommend looking into the startup company that is renting solar panels and charging a rental fee that is the same as your local utility kilowatt-hour rate. The program requires that your utility does net-metering--but 40 states do have it.

Answer 3

No do it now-with the energy crisis looming more people will turn to solar as one method to make the use of light etc more affordable But as soon as that happens the Cost will go up and you'll be ahead of the game by doing it now. I too am looking at energy conservation with cost reduction. Even some where I may initially pay more but safe in the long run seem the smart thing to do.

Answer 4

Solar panels to power any, if not all, of our daily needs have been around for a minimal cost since the early '70s. The same availability has increased in cost since the realization that there is a huge profit to be gained via conversion to solar or any other version of a power source. Forget about inexpensive power unless you come up with a way to make it so.............. just for you.

Answer 5

Its no good to buy solar panels now because they have a short life span of only 10 years, after that they produce a lower amount of energy. We should wait until better solar panels that collect more rays from the sun and have longer life spans are made available.

Answer 6

I would be interesting in seeing the analysis that shows a solar power system can pay for itself in 7 years.

Answer 7

well we can buy solar panels now that pay for themselves in 7 years (stopping non-green electricity production for your house for 7 years)

or wait 5 years for them to come out with a solar panel that will pay for itself in 3 years. (screwing up or environment for 5 more years)

the problem is electricity bills for seven years all at one point is hard for most people to come up with.

What is new and better is selling solar panels on payments.

Answer 8

As you have read-buy now is the best bet for you and the planet.
Also if things keep going as they are, if you wait it maybe too late. There will be a mad rush to get these things and you will have a long wait to get yours and the cost will be way higher then now.
Your choice.

Answer 9

How long do you go on waiting before you stop and think they are cheap enough. As soon as you buy you start counting down the clock to them repaying for themselves as well as helping the enviroment which matters sooner rather than later.

Get them now.

Answer 10

Hi. Later makes more sense. The price will come down, tax incentives may get bigger, and the payback time would shorten under both of these influences.