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10-20-2009, 02:57 PM #11
10-21-2009, 07:26 PM #12Junior Member
- Join Date
- Aug 2009
What did your system cost? I'm trying to move in that direction soon, for business and personal. Also I would like to offer this to clients. I heard that the gov. was giving big tax breaks on installing solar. Did you take advantage of this?
10-21-2009, 11:35 PM #13
I am also very interested in knowing what that system costs.
Do you have any numbers for us to see?
Like how long before you break even with purchase/install of system and your energy savings?
What price your energy co wants to buy energy back from you once they install a new meter as opposed to how much you pay for it?
Stuff like that.
Beautiful house BTW!___________________________
“No man has the right to be an amateur in the matter of physical training. It is a shame for a man to grow old without seeing the beauty and strength of which his body is capable.” ~ Socrates
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10-21-2009, 11:47 PM #14
10-22-2009, 01:30 AM #15
Minor correction it is a 5,670 watt system.
Cost of this particular system was approx. $40K
LIPA (Long Island Power Authority) is currently offering to pay for 50%
Federal Tax Incentive is 30% uncapped
State was approx 30% tax credit as well.
After tax credits and rebates the system ends up to cost approx. $8k or 20% of the selling price. Expected payback is 6.5 - 7 years (depending on electric prices, could be sooner). Panels can make full power for 20 years before they start to lose efficiency. My town was also offering a rebate for awhile, but has run out of money so we didn't get that. So depending where you live in the country prices will vary greatly. Only constant is Fed. tax credit of 30% uncapped.
No, the electric company does not buy electric back from you at the same price it sells it to you. (which although sucks, really I have to agree is fair.) But currently until the meter shown in the video is changed to a "Net Zero" meter they are buying it back at full price. The new meter will probably be installed in a few weeks, and it keeps track of how much electric goes each way.
Last edited by Justin D; 10-22-2009 at 01:32 AM.
11-29-2009, 07:17 AM #16Member
- Join Date
- Jun 2009
- SE Michigan
^ quality info right there, and as others have already pointed out: beautiful house.
Do you know any information on how much solar panel pricing has dropped in the past few years / is expecting to continue to drop?
Any big changes occur in the industry as of lately that you know of (how efficient panels are, life expectancy, durability, etc)?
Surely this is a great investment, and once the system pays for itself, it's onto the big money savings from there
12-01-2009, 01:38 PM #17
The panels used in this project are a high efficiency panel. They cost a bit more, but are 15% more efficient than some other panels. They are expected to stay at full efficiency for 25 years before they start to drop off to around 80% efficiency. I suspect prices will come down more in the future as new technologies emerge, but I'm not sure as the demand is quite high for them now. In fact many residential projects are stuck on backorder as the companies are full filling major commercial and governmental orders. Unfortunately a single residents doesn't have nearly the buying power of a big commercial company so you just get stuck in line. So if the demand doesn't drop for a while I wouldn't expect a big change in price.
Last edited by Justin D; 12-02-2009 at 12:44 PM. Reason: spelling
12-01-2009, 09:50 PM #18
Nice job! Great way to start your own business! I'll be the first in line. lolI design things and stuff...
12-02-2009, 12:45 PM #19
12-04-2009, 07:48 AM #20
sounds like a win/win situation down the road for you...-It is what it is...