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Leading energy companies are intent on pushing the world in the opposite direction, expanding fossil fuel production and insisting that there is no alternative. It is evidence that they are motivated not by record warming, but by record profits, experts say.

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[-] FlyingSquid@lemmy.world 2 points 1 year ago

No I can't. I have one option. One company. That's it. And solar would cost me about $15,000. And that's not counting a battery. Maybe you're rich, but I'm not.

[-] MxM111@kbin.social 1 points 1 year ago

15K is not rich for US. It is 1/3 of a new car price ($46,290 in 2022). It might be not very doable for you, personally, but I bet that majority of households can afford this, especially since they will get free electricity after that, and if they truly worry about climate change. If not, then why do they require for oil companies to make financial sacrifices, but not for themselves (even if it is a sacrifice at all)?

[-] FlyingSquid@lemmy.world 1 points 1 year ago

People can't even afford food right now because of inflation. 60% of Americans live paycheck to paycheck. They can't afford solar panels either.

[-] MxM111@kbin.social 1 points 1 year ago
[-] FlyingSquid@lemmy.world 1 points 1 year ago

Yes, 60%. I just said that.

i.e. the majority.

[-] MxM111@kbin.social 1 points 1 year ago

That statistics might be true, but at the same time 90% of US households have at least one car, and about 60% have 2. Installing solar panels is roughly cash neutral or even positive depending on location. You can take a bank loan and install the panels and the payment back to bank will be comparable to savings you get from not paying for electricity.

[-] FlyingSquid@lemmy.world 1 points 1 year ago

Oh sure, that's what Americans need. Even more debt. Great idea.

[-] MxM111@kbin.social 1 points 1 year ago

What's the difference of paying debt vs paying for electricity if you pay the same amount?

[-] FlyingSquid@lemmy.world 1 points 1 year ago

Can you prove that it's the same amount?

[-] MxM111@kbin.social 1 points 1 year ago

Many people do that because it is economically beneficial for them. Do you think that most solar panels on the house roofs are done because people want to be green?

[-] FlyingSquid@lemmy.world 1 points 1 year ago

That is not proof that it's the same amount. Is the debt plus interest the same amount as you save in electricity? Can you demonstrate this claim?

[-] MxM111@kbin.social 1 points 1 year ago
[-] FlyingSquid@lemmy.world 1 points 1 year ago

That says nothing about going into debt. It certainly doesn't say that's a good idea.

[-] MxM111@kbin.social 1 points 1 year ago* (last edited 1 year ago)

If it makes sense installing solar panels when you have these 15K, then generally it makes sense to borrow the money as well (provided reasonable rates). The reason is that otherwise you would rather invest 15k into something (stock market, CD, whatever) than building the solar panel. Since the return rates from investment roughly follow borrowing rates, the situation is the same in both cases (borrowing vs already having money).

Of course, it does not mean that it is beneficial for everyone. People live in different states, with different laws, have different credit scores, so in each individual case it must be calculated. And in many cases it will work, and in others it will not.

But my main point is different. It is not like you are throwing away 15K. You are investing them, and will get return on investments. So, even if the returns are less than expected, you loose only the difference between 15K and the returns. So, if one really worries about climate change, they can act, and it does not cost 15K at the end to them. And in many cases it can be even financially beneficial.

[-] FlyingSquid@lemmy.world 1 points 1 year ago

I don't think you read the article you provided to me because it is saying it's more like $25,000. And you still have not demonstrated that you will make up for the debt with energy savings.

this post was submitted on 16 Jul 2023
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