Thinking of going solar in NJ. Looking for feedback on the quote I got and if it's still worth it in NJ or not with the future of srecs now uncertain.

Thinking of going solar in NJ. Looking for feedback on the quote I got and if it's still worth it in NJ or not with the future of srecs now uncertain.

Through tesla/solar city

The system: I believe it's 27 325kw panels. 8.775kw system that's supposed to produce 11,600mw.

Price: 35k before the federal 30% tax credit.

The concerns:

  1. Financing this system over 20 years will end up costing me 57k.

  2. Srecs might be coming to an end as new jersey is already about to hit its caps for them this year. New legislation is being worked on but the future of these credits is in the air. Without them, I don't see how solar is worth it at all.

  3. My estimated monthly current electric bill is ~$150. My loan payments would be $170 plus 18 for the remaining electricity. Right now srecs (11) of them would cover me but not if they disappear or drop significantly.

  4. With a total 20 year cost of 57k, it looks like solar wouldn't finally pay for itself to almost 30 years down the road.

What am I missing? I thought solar was supposed to save you money.

submitted by /u/Nadtastic
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