Some people just want to skip all the technical jargon and get down to the $$$$$. How much will this cost me? After all its a very important question. Well lets start with one question, How much is clean energy worth to you? To do a cost analysis, lets ask ourselves few more questions.
- Would you like to own your own electricity?
- How would you like to use clean, green energy with NO environmental impacts?
- Want to stop worrying about cost inflation from your utility company?
- Would you like to reduce your carbon footprint?
- Would you like to get complete freedom from the grid?
- Would you like to prevent some pollution which contributes to global warming?
- Would you like to MAKE money from a long term investment with a guaranteed return by the government?
- Do you want to take care of the environment while you save and make money?
These questions are only here to help you take a step towards an energy revolution. Lets take a look at some facts.
Cost Analysis :
An average American family home with 3 bedrooms, uses about 1kW to 3kW per hour depending on the electrical appliances that particular house has. So obviously, if you have a hot tub, you will be more on the 3kW end of the scale. You can find out your usage in your monthly electricity bill. So lets take a couple of examples to illustrate how much it will cost you and how much you can save by installing solar panels.
Example 1: Average home that uses 2 kW per hour (monthly electricity bill of about $50 - $75)
Cost of Solar electric system incl. Installation: $22,000* (assuming $10 per watt system)
LESS: Government Rebate: - $6,600 **
LESS: Tax credit: -$1,155 ***
You pay only: $14,245
Example 2: Average home that uses 3 kW per hour (monthly electricity bill of about $80 - $100)
Cost of Solar electric system incl. Installation: $27,000
LESS: Government Rebate: - $8,100 *
LESS: Tax credit: -$1,395 **
You pay only: $17,505
* This cost varies depending on the solar panel brand, the person who installs it, efficiency, shipping cost. etc.
** Government incentive: 30% discount until the year 2016
*** Local tax breaks
Find out how much government rebate you get in your state: Click Here
None of these examples include any local city and state incentives. None of these examples include net metring. You save even more when we include them
If we take the local incentives into consideration, the the total amount comes down even more. Many utility companies does net metering. Basically net metering is when you sell back any excess electricity (which was produced from you solar panels) that you don't use back to your utility company. The amount you sell back will be credited on your monthly bill. So you actually end up making money every month. At times, you can actually see your meter spinning backwards!
To learn more about net metering: Click Here
So let me ask you again, How much is clean energy worth to you?