July 2018 – Solar Income

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10 Responses

  1. Caroline says:

    That was a big investment at first Rob! I probably missed the post but how did you guys finance it?
    Sounds like a great plan overall.
    And I love praline but not crazy about ice cream:)
    Caroline recently posted…Over $6,000 In Dividend YTD! June 2018 Income, Expenses And GoalsMy Profile

    • Rob says:

      hey Caroline

      Last year we decided to refinance the house and pull some equity out while switching over to our bank.

      our mortgage rate is locked for 5 years at 2.5% so we pulled 150k in equity out to finance our private investment these solar panels, start and max out wifes tfsa and use the extra funds for my tfsa and for a new roof.

      Glad we did it, rates are cheap and really got the ball moving.

      I have a post from last year about it somewhere =)

      cheers!

  2. PCI –

    Just awesome, gosh dang that is just awesome. Keep the sun shining and the energy flowing!

    -Lanny

  3. If I hear of any trouble regarding the Canadian power grid, I know who to call Rob You must be pretty busy with landscaping season since I haven’t seen to many posts from you in my feed. Tom
    Tom @ Dividends Diversify recently posted…How To Increase Your Dividend IncomeMy Profile

    • Rob says:

      hey Tom

      yeah things have been crazy. go from 0-60 real quick. In july we take saturdays off again which is nice. So no longer working 60-70 hrs a week.

      I have decided to do one post a week vs the 2 I was doing before.

      cheers Tom!

  4. I love that you can do this. Sure, there was a nice upfront cost. But it is cool that you are generating income and contributing a clean energy. All for just putting some panels on your roof. I love it!

    Bert

  5. Nice mate! Really milking this one. One question. Since, you already invested 30k for the solar cells. Your income goes towards recouping this initial investment. Would you still consider it as a passive income? A parallel would be mortgage. Could rental income be considered passive income if all of it is allocated to mortgage? Just curious about your thoughts.
    dividendgeek recently posted…Dividend Increases This Week (July 16 – July 20)My Profile

    • Rob says:

      hey geek

      thanks man. it’s a great point. With rental income i have always wondered if you could call the whole rent passive income vs just the cashflow.

      Atleast the mortgage balance is going down so i would say yeah.

      Now this is different from the panels because you only put lets say 20% down vs me putting the 100% down.

      Id say the panels are still passive because they did add value to our house as well, but will be slowly depreciating in value also.

      good question.
      Cheers

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