I loved the idea till I saw the price of the system.
Is BTC270 means 270 bitcoins?
I should think so because $28K means 28K us dollar,
so any idea how many years of electricity bill it will pay off with this amount of money?
well, if it means 270 USD in terms of bitcoin, then it's my bad.
Yes, BTC270 is 270 bitcoins for that system. Solar power isn't the cheapest at the moment, but look at it this way: you're paying for your electricity for the next few decades up front. How many decades is a question of how much the price is now, plus how much will the price increase in 20-30 years.Is BTC270 means 270 bitcoins?
I should think so because $28K means 28K us dollar,
so any idea how many years of electricity bill it will pay off with this amount of money?
well, if it means 270 USD in terms of bitcoin, then it's my bad.
$30k for a system that will save you $1500 per year (at current electric prices in New York).
I don't see how that makes sense at all.
Will the system even last the 20 years it will take to pay itself off?
Yes, the system is warrantied for 25 years on the panels, 10 years for the inverter. Unless you get panels with a microinverter attached (highly recommended for greater efficiency), which have a 25 year warranty for both. I don't see how that makes sense at all.
Will the system even last the 20 years it will take to pay itself off?
The state of NY and federal government offer significant tax credits and rebates (some of which depend on your utility provider in NY state).
You guys keep looking at it the wrong way. It's not just about using BTC to support mining ventures. It's about using BTC to pay for real-life objects and services. Once you got an economy around BTC, the volatility might decrease.
The panels are not just for mining. It's to decrease the amount you pay for electricity, to do your part for the environment, and get some tax credits. I'm not too sure how the tax credit and BTC thing will work.
Stop being so narrow minded.
E x p a n d your views.
The tax credit and rebate question is a very important one, and I frankly don't have the answer for it yet. The 30% federal credit cuts down the break-even time, and state incentives can bring it down to 4-7 years to pay back. How would the credit work if someone used CAD to pay for a system--would they still be eligible? I will do some research, but that may be a question for a lawyer or CPA. I would love to bring this idea to fruition where I work, so thank you guys for your input on this.The panels are not just for mining. It's to decrease the amount you pay for electricity, to do your part for the environment, and get some tax credits. I'm not too sure how the tax credit and BTC thing will work.
Stop being so narrow minded.
E x p a n d your views.