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The economics of solar power: Making the kids pay • Daily Montanan [1]

['Dave Lewis', 'More From Author', 'March']

Date: 2024-03-20  

We installed a solar power array of panels last July. We have only paid $100 for electricity for the entire time since installation. We pay $150 a month for the installation, but nothing to North Western Energy because we are generating our own power. We went into the winter with a large surplus in our account and have just finished using it up.

That is giving us as nice savings over the cost of paying for electricity. But the hook is that it will take us maybe 15 years to pay off the total cost of the installation. Monthly, it is less than our old electric bill so we come out ahead on a cash flow basis.

My remaining actuarily calculated life span is probably five or six years. My wife and I are in good health, thanks to the wonderful medical community in Helena, but the odds are we will not make it to 90.

I have calculated that we will pay for maybe a third of the total cost of the solar installation before we pass on, but will pay nothing for electricity. We come out ahead on a cash-flow basis.

What a great country. My kids pay the bulk of the original cost and we get the 30% tax credit on our current income taxes. Who says you cannot take it with you? We love our family but they are going to get the house and they will pay off the solar installation when they sell it. And we have the benefit of fighting global warming.

So as the final days tick away on the course of our lives we have taken advantage of a 30% tax credit, given our children the joy of paying 70% of the bill, and enjoyed those monthly zero electricity bills.

Is this a great country or what?

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