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Status: (8) Acura
Joined: Aug 2007
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Locale: Midwest
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Quote:
Originally Posted by Kontis View Post
Today I was wondering if investing in solar panels to provide energy for a multi-family or a small strip center would be worth it. So I did some googlin' and stumbled upon this article.
What's your take on it?

I've spent some time researching solar panels and I don't see that they make much economic sense...yet. Most of the information that I've looked at has been for SFH, which would seem to be a better application for solar than multi-family (in my opinion). Most modern apartment buildings are individually metered, so the tenants pay their utilities. I don't know why I'd want to absorb the cost of putting solar panels on top of my apartment building when I wouldn't likely see any rewards.

I live in the Midwest, so "green" living and solar power aren't quite as in vogue as they are on the coasts. Around here, I just can't see people paying much of a premium to live in a "green" apartment complex, which would be the only possible return that I could see for the investment in solar.

I also think that solar technology will improve quite a bit now that it's gaining a bit of traction. I'd be afraid of putting up solar panels that would quickly become obsolete as new developments come to market. I could be off base with this fear, but it is certainly one that I have in my own mind.

I'd love to hear some other opinions...