Last month, I wrote a series of articles about our decision to purchase a home solar energy system, and my belief it will ultimately help us on our path towards financial independence and early retirement.
Today, in an effort to share some additional information on the topic, I want to identify some of the potential hidden costs to going solar I found useful to consider, even though they didn’t show up in the quote from our local solar energy company or most of the research I did on my own.
Today we get into the fun stuff: how our new home solar energy system has performed during the first ten days of a (hopefully!) long and productive life!
Our inverter, which converts the direct current generated by the photovoltaic panels on our roof into the alternating current that can be fed into the electrical grid and used to power our home, is made by a company called SolarEdge.
While the science behind how the inverter works is no doubt fascinating, I am more interested in the impact the solar panels and inverter will have on our electric bill!
Over the past several years, I’ve noticed the installation of more and more solar panels in the area we live.
I’ve long been intrigued by the idea of solar energy, but as someone who tries to base most of his financial decisions on facts and numbers, rather than emotions or peer pressure, it never made sense to me.
A local solar provider recently offered an incentive program through my employer. While the incentive was modest, it was enough to get me to seriously run the numbers, and do some further research about the pros and cons of solar energy for our family.