Yeah. We have similar systems here in Californialand. But, as you point out, the sheer costs make the whole thing pretty iffy. I know a number of people who have installed solar panels on roofs and wind turbines as well (those with large enough property). The wind turbines just don't generate much power at all (which is honestly about the most direct experience I have with them). Solar panels work reasonably well, but the cost is pretty darn prohibitive. A more modest system runs about $20k (more for the equipment to put power back on the grid). But the half life on those panels is about 10-15 years (depending on who you ask).
The problem is still mostly economic. Let's assume that $20k saves you $100/month in electricity bills (either direct reduction or by selling power back). That's $1200/year. Assuming zero degradation of the power output, that would pay off in about 17 years. But with degradation, it'll take more like 30 years to pay back. On a product that has an expected lifespan of 25 years. Now, to be fair, that's usually the warrantied lifespan. Under good conditions, it could last 40-50 years. But those panels are on your roof. They will suffer damage every time it rains, or there are strong winds, leaves blow on it, birds land (or ****) on it, etc. Given the condition of the panels I've seen some of my friends have (that are in some cases about 10-12 years old), I doubt seriously that they'll last much past 25 years.
There's some newer/lighter/better systems coming to market right now, but they have other issues (like dirtier production methodologies and even less resistance to the elements). It's hard to say how they'll fare in terms of actual use under real conditions. The general consensus from everyone I know who's bought such systems (and some of them are real alternative energy nuts btw), is "wait". The technology just isn't quite there yet for on-home power generation. It's close though.