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The full estimate was $212k, the state pays for about half and then there are more incentives from the fed gov't and the city. That brought it to $86k. After credits from Duke, it says the break even point is seven years.
I think I'll just conserve until this gets cheaper.
So the tax-payers are forced to give people that buy solar panels up to $150,000!!!
You might look into a solar water heating system, which is simpler, cheaper to install, and more cost-effective overall.
Exactly. Solar water heaters are widely used in other countries (such as China), but relatively uncommon here. Do you know where one can get such a system for a single family house here? Thanks.
There seems to be a lot of misinformation in this thread so I am going to try my best to correct some of it and I'll try to make it as simple as I can. A base 2kw PV system which can provide 30-40% of the electricity used by a typical home costs about $20k installed, it works out to about $10/watt. There are 30% federal tax credits, with no cap after 1/1/2009 and 35% state tax credits with no cap. After taking all of the tax credits and rebates you end up only paying for about 1/3 of the total cost of the system. The typical PV system is grid-tied and you sell all the power back to the utilities under the greenpower program for around $.15kw/hr and you only pay $.10kw/hr. With all of the tax incentives and power buy back numbers taken into consideration, the typical payback will be 7-9 years, and the typical payback period doesn't differ between a 2kw or a 100kw system. If anyone would like to know any information on solar water heating I'll be more than happy to provide that info too.
I priced out a system that would deliver roughly 10,000 kWh/yr (approximately the amount our home used annually), and installed it would have been around 30K, before any tax breaks. That did not include the price of hooking up to the grid to sell back power, however.
I am having a 5.5 KW system installed next month $37,000 before all incentives. It consists of 24 230watt Sunpower panels configured in sell all/buy all SREC grid tie system.
Payback 13 years but actually increased home value once installed so I suppose you could say, it pays for itself right after I cash in on Fed and State income tax credits. (state credits are over 5 years) Federal credit is all at once.
It is very cool indeed, cant have any shadows, not even the shadow of a branch or a leaf.
Need to face East, South, or West. Southeast being the best.
Oh, btw, the panels are raised from the roof a bit to allow cooling, so essentially they shade the roof from a lot of heat.
The full estimate was $212k, the state pays for about half and then there are more incentives from the fed gov't and the city. That brought it to $86k. After credits from Duke, it says the break even point is seven years.
I think I'll just conserve until this gets cheaper.
Good choice. The incintives are just your neighbor paying the real cost and getting no benefit, a foolish approach that government loves.
Al Gore - Not Evil, Just Wrong.
If we continue to disburse capital money in pursuit of small operating cost recovery, then we will go broke. Soon.
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