Solar Panels: Beyond ROI, Payback Periods & Money
When people consider purchasing solar panels for their homes, they often focus on saving money on their energy costs, what the ROI (return on investment) is for the system, what the cash flow scenario will look like for selling their SRECs, etc. All of these are important things to consider, but there is more to solar energy than just saving money or even improving your financial position.
The concept I’m alluding to is something that I see as a fundamental element of wealth generation: creating instead of consuming, controlling resources instead of just consuming them.
When you go solar, you are creating something that is equally as valuable as money. Energy is an incredibly precious resource, even more than money I would argue. Solar energy is a game changer; you are creating energy, and if you create more than you consume, you can sell that excess at a profit.
I would love to hear your thoughts and feedback on this. Leave a comment here to let me know what you think about creating more than you consume.
Hey, Matt! Nice video. Looks like you do some thinking while driving.
Regarding creating more than I consume- I really appreciate your opinions on the subject. We can all improve in this area and I, for one, have been working on it for about 7 years. The recent downturn in the economy really put me in an interesting place and I realized how little real progress I was making. Nothing like a slower cash flow to get me working on creating new ideas! Hopefully, the lessons learned “in the famine” will give me wisdom during “the feast”!
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Putting a solar panel on your home only makes sense and is valuable if the purchase and install costs are recouped in five years or so. If not the purchase doesn’t make any sense except to the salesman who is creating his wealth by selling a dream. If the payback for insallation or some other energy saving endevor has a better ROI do that. Doing something that makes sense is real power.