07-15-2022, 11:20 AM
Do you have an extra US $21,000 floating around to install a grid-connected solar system on your roof? If not, the power bill savings to pay off a home equity loan for such an installation will take about 14 years to pay off at current interest rates, if my experience is an example. Instead, we paid cash, but not every homeowner is able or willing to make that investment for such a long-term pay-off. Also, not every house has enough sun exposure on its roof to justify installing solar panels.