EdwinSm wrote:I am torn between two polls of thought 1) this is a great insurance against raising costs, helps a tiny amount with CO2 reduction (supposed to generate almost 30% of our annual consumption), helps a tiny amount with energy independance.... 2) the doomer in me made me panic and throw away a large amount of money which could be sitting in the bank earning 0% interest.
To me, the strongest case with solar plus batteries is the relative energy independence (especially for emergencies) without needing an expensive and maintenance-requiring generator setup.
For the financials, I'm far less convinced, thus far. You still have the utilities fighting hard to screw solar customers re the financials, breaking contracts, not paying much for net metering power from the customer, etc. So if you have a "good deal" on that now, that could change for the worse. To me, when governments allow contracts to be broken, I refuse to trust them any more. So Nevada apparently changed what they're doing again for the better. What's next?
https://www.npr.org/sections/thetwo-way ... incentivesUnless your electric bill is nasty (and conservation might be a cost effective way to help), falling prices for equipment and improving tech might be better economics for the next several years than taking the plunge.
I'd like to see how Tesla Powerwall battery (and competitor) prices evolve, for example. I ALSO want to see more about the fire risk of such systems BEFORE putting them in my house, thank you very much.
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As for 0% interest, there's a better way. "High Yield" savings accounts in major US online banks are now yielding in the area of 1.75% interest and rising with overall interest rates.
The main constraint is only 6 withdrawals a month (like a typical money market account), so you can't use them for the household checking account, for example. FDIC insured to a $quarter million.
Or, 1 year CD's paying more like 2.4%.
Nothing earth shattering, but helps keep up with inflation for the most part.
Disclosure: I have no direct investment in any financial companies. I only mention these as a happy savings account customer for most of the past decade with Ally Bank and American Express Bank via their convenient relatively high yield online money market accounts with minimal balance requirements, muss or fuss, and acceptable customer service. The main constraint is only 6 withdrawals a month (like a typical money market account), so you can't use them for the household checking account, for example.
The nieces and nephews have been happy with them.
Given the track record of the perma-doomer blogs, I wouldn't bet a fast crash doomer's money on their predictions.