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- Jun 18, 2018
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Think of it like buying a house. Once you buy the house your mortgage payment is fixed for 30 years while if you had continued to rent it's highly likely your rent would have increased. Unless you easily have the cash available buy (don't rent) a system and finance it for 10-20 years. Example:
Old electric bill = $200
New loan payment = $160
Where I live the electric company openly states that we should expect the cost of power to rise 6% each year. If that's the case the $200 monthly bill in 10 years is ~$350 and in 15 years it's ~$500.
You'll also get a 26% tax credit which I believe goes down after this year.
Old electric bill = $200
New loan payment = $160
Where I live the electric company openly states that we should expect the cost of power to rise 6% each year. If that's the case the $200 monthly bill in 10 years is ~$350 and in 15 years it's ~$500.
You'll also get a 26% tax credit which I believe goes down after this year.