[msnln]

Thank you very much for all your feedback. I looked at my notes again and solar panels are warranted for 25 years, not 25 year life expectancy. So I presume they will continue to produce after 25 years but efficiency may get reduced over time.

As for Kirby's view that they panels will decrease in value over time, I absolutely agree. However, rebates and tax breaks will not be around forever. I had looked into installing panels last year as well and utility rebate was even higher. Now, with the higher demand, they cut back. I checked the electric company website and it looks like they allocated set amount of rebates in different rates. If the highest rates are all used up, then rates come down to the next bracket, and so forth. IF I wait too long, rebates will be all gone and government subsidies may not exist any more either. 50% subsidy makes this an attractive option for me.

Charge, you are addressing my wife's concern about recouping initial investment. The numbers look OK on paper but one of her major concerns is whether we will be able to get our investment back. But then, I don't think you get investment back for most home improvements, like updating bathrooms, kitchens, etc. The particular unit I am looking to install is not trackable unit but stationary. I heat with oil and I do not plan to do anything with that right now.

I built an extension to the house five years ago and put in energy efficient windows and new insulation throughout the house. At the same time, I had compact florescent lights installed throughout the house as well. Only place I have regular light is on the porch, and that light is off pretty much all the time.

I also understand there are energy efficient appliances which I looked at but they cost about double of regular appliances and I figure why replace things that work well. When my current appliances start failing, I will consider "green" appliances. I have gone though online energy audit also and about all I need to do is install insulation on the water heater (which I bought but have not gotten around to installing).

Hmmm...I also installed plastic over all windows that are not used to prevent draft and have programmable thermostat so I think I am covering pretty much all the bases.

Thank you again all for great comments and I would appreciate more feedback.