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Saturday, May 18, 2024
EnvironmentLetter to the Editor: Invest Wisely in Our Future

Letter to the Editor: Invest Wisely in Our Future

Whether or not you believe the IPCC’s urgent warning that global warming is spinning out of control and threatening a breakdown of civilization, you may be looking for a good investment. Solar-electric panels is one of the few investments available that offers both high return and low risk.
My first set of panels was installed in 2008, when the return on investment (ROI) was about 6%, far better than savings accounts, bonds, and other low-risk investments. After my wife bought an electric car and our use of electricity jumped, we got our second set in 2015. Due to the big drop in panel prices, the ROI had by then risen to about 9%. Today, the ROI on solar panels could be as high as 12%, meaning that savings on your electricity bill will pay off the original investment in just 6 years! After that, your electricity will be nearly free for the next 40 or more years.
On account of having some of the highest electricity rates in the country, California is a great place to go solar. Governor Brown just signed a bill mandating 100% carbon-free electricity by 2045, and starting in 2020 all new homes are required to have solar panels. I just received an e-mail about the EnergySage Solar Marketplace, which allows homeowners to easily evaluate multiple solar options from the comfort of their couches. Sign up to receive free, custom solar quotes online from local installation companies in California. It’ll only take a few minutes of your time, and no phone calls are required. Whether you want to save the planet or make a great investment, check this out: https://www.energysage.com/
Rob Means
South Bay Progressive Alliance
Co-Coordinator, Steering Committee


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