The cost of solar will typically always be a certain spread

Posted on: January 24, 2025 at 10:20:18 CT

under rising utility costs. That's the excuse for a lot of customers not pulling the trigger. They say I'll just wait for the cost of the equipment to go down because it's gotta' be cheaper to produce now, right? Actually no. The cost of solar will go up as utility rates go up. As long as solar is still cheaper than the utility company, why would manufacturers not take advantage of getting extra margin? For cash buyers, it's easy to sell. For people that need to finance, if they cannot use their savings to pay their payment, then it doesn't make sense.

Had another somewhat friend who's a doctor. At the time, he had $75,000 in a money market, paying like 3.75% when savings rates were historically good. They have horses and use a lot of electricity. His wife also said $72,000 was too much, but I tried to explain to her that knocking out their bill close to 100% would actually equate to over 5% return, which is better than what they were getting currently, not to mention that their utility rates would rise yearly. The didn't pull the trigger either and have spent that cash on stupid shyt. Last we talked, he moaned about it. I just said "it's your money, man."