August 2018 – Solar Income

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12 Responses

  1. Nice job man!

    Who cares if it’s technically passive income or not. (I say it is). Passive income is making money without doing anything basically(after an initial capital outlay). Sure you may still owe on the panels, but eventually it’ll all be gravy 🙂

    Enjoy the long weekend. It’s almost hockey season 🙂
    Jordan @ MoneyMaaster.com recently posted…July 2018 Dividend UpdateMy Profile

    • Rob says:

      hey Jordan

      I agree, thanks for your opinion.

      Man am I excited for this year. Those leafs are going to be exciting. Didnt fix their defence issue but i guess they plan on just outscoring everyone!

      cheers man!

  2. Nice job Rob, I like the idea of generating your own electricity and also helping the planet a little. I definitly see solar panels (and rentals) as a form of passive income. It just takes time for your initial investment to get to that breakeven point. Nice numbers as well, north of $300 a month is not ‘nothing’!

    DI

    • Rob says:

      hey Dutch

      Great to hear, The green aspects of the panels are definately huge. (Both the renewables and the dollars) I was fortunate enough to get into the program when it was around.

      Cheers Dutch

  3. JoeHx says:

    I think the passivity would depend on how much maintenance is involved with the solar panels themselves, or maybe if you have to fight the company to get your payment. I have a feeling that there isn’t much maintenance, and that Hydro One pays you without issue.

    And 28.8 cents per kwh is quite a large amount to be paid. I pay around 10 cents a kwh – and even though this is probably Canadian cents to American cents, the difference is huge.
    JoeHx recently posted…August 2018 Blog StatisticsMy Profile

    • Rob says:

      hey Joe

      For sure the difference is huge! We pay hydro one 18 cents per kwh for power at prime time. Im sure in 10 more years that price will be alot higher though and they will break even on the contract. But in 20 years I write a new contract as well(hopefully higher too) haha!

      Right now (knock on wood) There has been no issues with the system, and hydro one has no issue at all paying me. Its as passive as it can get imo.

      cheers Joe!

  4. That’s a nice amount of PASSIVE solar income, Rob!

    Receiving $342.14 worth of solar income for previously installed panels seems like passive income to me. I mean, if passive income is not considered passive because it requires an initial investment, I’m not sure what passive income is.

    It seems like a legitimate additional income stream. Thanks for sharing.
    Reverse The Crush recently posted…Business Dividend Income reached $438.09 per year | FDIP # 9My Profile

  5. PCI –

    Your yield is incredible. Think about it like this. You spend $32K on an investment. Each year, it may pay you over $2K. That’s over a 6% yield, eh? I love it.

    -Lanny

    • Rob says:

      hey Lanny

      thanks man, hoping to average about a 8% rate of return on it. So far this year has returned 5.5%. Heres hoping!

      cheers

  6. It’s definitely a passive income! You don’t have to put any more work to make money from these solar panels. Nest month you should surpass $2K. You’re getting closer and closer to breakeven.

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