Hello everyone,
Thinking of putting solar panels on my roof for about $16k after the Saskatchewan rebates. Payback should be about 12 years. How should I evaluate this financially?
If I didn't use that money for solar panels I will likely invest using a non-registered wealthsimple account. My registered accounts (RRSP, TFSA, RESP) are maxed out, mortgage will be paid off in 13 months. Is it fair to measure this against a growth investment account, or should it be compared to bonds as the volatility is none except for the risk of some sort of component failure or something.https://discord.software/ fetLife itunes
The geek in me thinks going solar would be cool, just not sure how this ranks from a financial perspective.
In Saskatchewan they just changed their net metering program from a 2 year contract to a 10 year contract and will pay the retail rate of 14 cents per kWh to net out your electricity bill over a 3 year cycle. Electricity rates aren't going down and a carbon tax is coming next year so the value of solar energy should be increasing.
Thank you!
Thinking of putting solar panels on my roof for about $16k after the Saskatchewan rebates. Payback should be about 12 years. How should I evaluate this financially?
If I didn't use that money for solar panels I will likely invest using a non-registered wealthsimple account. My registered accounts (RRSP, TFSA, RESP) are maxed out, mortgage will be paid off in 13 months. Is it fair to measure this against a growth investment account, or should it be compared to bonds as the volatility is none except for the risk of some sort of component failure or something.https://discord.software/ fetLife itunes
The geek in me thinks going solar would be cool, just not sure how this ranks from a financial perspective.
In Saskatchewan they just changed their net metering program from a 2 year contract to a 10 year contract and will pay the retail rate of 14 cents per kWh to net out your electricity bill over a 3 year cycle. Electricity rates aren't going down and a carbon tax is coming next year so the value of solar energy should be increasing.
Thank you!
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