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Updated over 9 years ago,
Increase monthly cash via solar power?
I have been listening to the podcasts with regularity - they are great for a person on the go! One area that interests me is the idea of more cash flow by bringing in other sources of income.
I'm wondering about the use of solar panels to help increase cash flow.
Let's assume the cost is $30K. I tie that back to the grid and recover my costs in seven years (national average). For the next 20 years or so, I'm booking $400 a month on that device. And I also get to depreciate the investment, so it's saving me about $250 a year in taxes.
Has anyone done this or considered doing this? What are your thoughts or experiences?