Residential Financial Analysis
Homeowner
s can save up to 45% on the cost of installing a renewable energy system with NEW federal tax credits and state rebates. Financing options make it possible to invest in solar for your home with minimal out-of-pocket costs and have the system generate positive cash flow in the first year! See below for how the numbers break down for a typical residential system.
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Sample Residential System
(3.0 kW system with an average $150/mo electric bill)
| Installed cost (before incentives) | $22,052 | |||||||||
| CSI Rebate (at $1.10/watt) | ($3,325) | |||||||||
| Federal Tax Credit (30%) | ($6,615) | |||||||||
| Tax on CSI Rebate (at 36%) | $1,197 | |||||||||
| Net Cost | $13,308 | |||||||||
| First Year Net Energy Savings | $1,403 | |||||||||
| Utility Cost w/o solar (over 30 years) | $120,985 | |||||||||
| (factors: 6.7% rise in energy cost per year and 4% inflation) | ||||||||||
| Net Savings (over 30 year life of system) | $105,199 | |||||||||
| Home Appreciation | $19,000 - $22,780 | |||||||||
| Rate of Return (after taxes) | 23% | |||||||||
| Payback Period | 8 Years | |||||||||
| Pounds of CO2 Avoided (per year) | 6,000 | |||||||||
| Equivalent # of Trees Planted (per year) | 825 |
