California Begs Residents To Change Their EV Charging Routines

[BMT1071]

I beg to differ. My net investment of $26.000 reduced my annual electrical cost by $3,700. That's over 14% return on my investment. Show me anywhere where I can invest SAFELY and get a 14% return. Additionally, that percentage will only go up as electric rates go up.

If my bills were anywhere near that high I'd have installed panels years ago. My entire annual electrical expenditure is less than half of your reduction. Are your rates that insanely high or are you operating a football stadium or something?

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[engnrng]

Solar is a product that one purchases. It is similar to your MMe purchase or your house purchase. They are not assets, they are liabilities(they cost you money -insurance, maintenance, etc.). Should you be able to rent your car or house at a rate that exceeds your costs then you can call it an asset.
Saving money is a good thing, but unless you invest that savings in something that earns a return, it is not an investment.
Investing $1,000 at 10% return yearly gives you $1,100 at the year end: your $1,000 principle and $100 in earnings. In seven years you will double your money at that rate of return.
Solar is not an investment. It is a purchased product.
If you paid $26,000 for your solar and save $3,700/year, you will recoup your initial cost in ~ seven years. If you invest your savings, you have the potential of earning a return on your savings. The $26,000 earns nothing. It is not principle because it is gone. Should you be able to sell your production at $.13/kWh or so you may be able to eventually make money on your production. Let me know if you can and where so that I can sell my electrons as well. Also, should you know of any 14% returns let me know that as well.
Many folks think they should be able to make money from solar. Even going off grid does not earn money. It is a matter of saving money and offsetting future rate hikes ( most utility companies fight consumer solar production and find ways to prevent the average man on the street from producing enough to cover his year round usage). If you can directly charge your MMe off your solar production, you should be able to save a bit more.
Utility companies have absolute monopolistic control when it comes to making money from the sale of energy for home use (other than Coal, Oil and Gas companies).
Buy utility stocks if you want to make money from energy production.

I guess a house is also a liability and not an asset. Thanks for the education. I will be sure and tell my CPA that she has been wrong all these years.

 

[woody]

I guess a house is also a liability and not an asset. Thanks for the education. I will be sure and tell my CPA that she has been wrong all these years.

An asset is anything that can be used to produce positive economic value. A house does not produce positive economic value. If you sell your house for more than you paid for it, it is possible to show a profit. It could then be argued that it was an asset after the sale. Live on the streets thereafter?
Unfortunately, I have not owned a home where I did not have to pay for utilities, insurance, property taxes or maintenance.

 

[Fat Mach]

A house is most certainly an asset. A stack of gold coins are assets as well. Something doesn't have to be a factor of production to be an asset.

I might change my charge routines. My current practice with my Focus is to plug it in when I get home from work. I'll probably set the MME to have a go time of about 5am and let it charge at night. Depending on what happens with rates I might charge at work. There's a ChargePoint station about 50 feet from my cube. Of course I haven't been there since March of 2020, so hopefully it's still there.

 

[jennq]

A house is most certainly an asset. A stack of gold coins are assets as well. Something doesn't have to be a factor of production to be an asset.

I might change my charge routines. My current practice with my Focus is to plug it in when I get home from work. I'll probably set the MME to have a go time of about 5am and let it charge at night. Depending on what happens with rates I might charge at work. There's a ChargePoint station about 50 feet from my cube. Of course I haven't been there since March of 2020, so hopefully it's still there.

Is a house an asset if it's worth less than its mortgage?

 

[Chuck]

Let's just leave it at this...

 

[Fat Mach]

Is a house an asset if it's worth less than its mortgage?

Of course it is. There's just a corresponding liability in the form of the mortgage.

 

[engnrng]

An asset is anything that can be used to produce positive economic value. A house does not produce positive economic value. If you sell your house for more than you paid for it, it is possible to show a profit. It could then be argued that it was an asset after the sale. Live on the streets thereafter?
Unfortunately, I have not owned a home where I did not have to pay for utilities, insurance, property taxes or maintenance.

" An asset is a resource with economic value that an individual, corporation, or country owns or controls with the expectation that it will provide a future benefit. " Cars, furniture, houses, and solar systems are all assets. Producing income (which solar panels do) is one way some assets are valued economically, a house where one can live is another.

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