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How do people afford the upfront cost of solar? (self.homeimprovement)

submitted 1 year ago by AnotherPerson to c/homeimprovement

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I just got a DIY kit quote for solar and it's ~$18,000. That would mean a contractor installing is at least $25,000 if not more. That's a big chunk of change upfront.

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[–] Hazdaz 4 points 1 year ago (1 children)

Have we never heard of a loan?!

Home improvement loans tend to have very reasonable rates. A $25k loan for 5 years is only about $525/mo.

[–] [email protected] 9 points 1 year ago (2 children)

Only about $525/mo

That is so cheap! Let me just dip into my trustfund

[–] [email protected] 5 points 1 year ago

For a homeowner ready for capital improvements to their property 525 is cheap.

[–] Hazdaz 3 points 1 year ago (1 children)

That is cheap.

If you can't afford some extra $500/mo charge (be it some emergency repairs on your roof or a new heater, etc), then you have no business buying a house when expenses can crop up at literally at time.

[–] norseghost 9 points 1 year ago (1 children)

Being able to swing the occasional 500 dollars is quite different than affording an additional monthly expense of 500 dollars

[–] Hazdaz -4 points 1 year ago* (last edited 1 year ago)

Then don't add solar.

For those who can look past what is happening today, they can see that the temporary hit of $500/mo for 5 years can result in potential savings of hundreds of dollars each month for 20 or 30+ years.

The fact that people have to even be explained this concept probably means they have no business hanging around in a home improvement community. Because you know, some of us like to improve our homes and not live in squalor, and things cost money. That sounds like it is a foreign concept to some in here.