Good time for a loan purchase of solar?

[SunEagle]

Harder to justify due to the interest? If my monthly solar loan/payment amount (which includes the interest) is still half of what I’m paying for traditional/utility company electricity, why would it matter if I can’t deduct the interest from taxes?

Yes. I have no mortgage and even if you add up all of my deductions it is still half of what the standard is now. So any deductions for solar would not help my Fed Tax return.

My calculations with a $2/watt install would still get me over a 10 year payback and most of the companies around here are charging over $3/watt.

[J.P.M.]

Except that way too many people don't know how to do that and end up taking on long term debt and risk for the sake of a fractionally smaller electric bill each month.

I know these people well. With the jump in their home's value, purchased only 5 years ago, they have already taken out a 2nd mortgage and used it to renovate their nearly new kitchen and bought a Polaris 4x4 with matching trailer and a 4 x 4 truck to tow it. They come to work each day in their other car, a leased $60,000 SUV while chatting on the latest Iphone using matching $200 wireless ear buds. They hang out in the break room during lunch and complain how they don't make enough to contribute to their 401k (with a company match) let alone have a small savings account for emergencies. I hear all these stories about their financial woes while I'm eating a sack lunch I brought from home. They are waiting for Door Dash to deliver take out.

These are the people who have no business borrowing to go solar and yet these are mostly who I see signing contracts.

Big ++1 on all that.

The peddlers thrive on the ignorance, ego and hubris - always have and always will.

But, this is still a free country, for now anyway. That includes the freedom to remain ignorant and do stuff based on self perpetuated ignorance and emotion.

Just opinion here but more folks doing dumber stuff seems more common now than in years past in that we seem to have gone past some tipping point/critical % of folks who cannot or never learned to think critically.

[bcroe]

I know these people well. With the jump in their home's value, purchased only 5 years ago, they have already taken out a 2nd mortgage and used it to renovate their nearly new kitchen and bought a Polaris 4x4 with matching trailer and a 4 x 4 truck to tow it. They come to work each day in their other car, a leased $60,000 SUV while chatting on the latest Iphone using matching $200 wireless ear buds. They hang out in the break room during lunch and complain how they don't make enough to contribute to their 401k (with a company match) let alone have a small savings account for emergencies. I hear all these stories about their financial woes while I'm eating a sack lunch I brought from home. They are waiting for Door Dash to deliver take out.

I see it as a failure of education, to value being debt free with some savings, more
than expensive toys. Bruce Roe