Is $18,000 to install solar panels through a city program a fair price?
Project Details
My mom (57F) was approached by the city she lives in about getting solar panels. She is worried she will not live in this house for the next 20 years (she will be 77 by then) and is concerned that with the 3.5% interest rate, it might not be worth it as she might not be there to enjoy the full benefits. She was initially under the impression that the loan was going to be interest-free as part of a greener home energy action plan. I'm also concerned about potential maintenance or replacement of parts during or after the 20 years, and that there are not many people in the house who could go up on the roof to clean them, as everyone is elderly.
Quote Details
This quote is for the installation of solar panels, financed through a city-held loan. The program allows for credits for surplus power generated, but does not include batteries. - Loan Term: 20 years - Interest Rate: 3.5% - Annual Power Bill (estimated): $2000 - Annual Loan Payment: $1285 - Approximate Annual Savings: $715 (assuming electric bill equals out to zero due to credits)
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More Details
Category
Solar
Price
$18,000
Quote Date
December 4, 2025
Battery Storage?
No
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