Solar Savings - A Real World Example
In this example...
- 2,400 sq-ft home that averages about $225/month in electricity usage
- Home has a good, unobstructed view of the southern sky and enough space for a 13kW Solar Array
- Graph compares the long-term costs of doing nothing, buying the system with cash or financing the system
- Utility company offers a Net Metering Program which allows the customer to use all the energy they produce
- Cash options require high upfront costs but yield the best long term return on investment
- Where available and for qualifying customers, State and Federal incentives can dramatically reduce the cost of the system in the first few years
- In this example, the break-even point for a cash system is around year 7 or 8
- By year 20, this customer is estimated to have REDUCED THEIR TOTAL ELECTRICITY COST BY OVER HALF, saving around $37,000.00
- Financed options require low or no upfront costs and quicker break-even points
- As with cash bought systems, (where available and for qualifying customers), State and Federal tax incentives can dramatically reduce the monthly payments in the first few years
- In this example, the break-even point for a financed system is around year 4 or 5
- By year 20, this customer is estimated to have REDUCED THEIR TOTAL ELECTRICITY COST BY about $21,000.00
*Every situation is unique. Estimates will vary. For specific details on this example, click HERE.