PSREC has a rebate program for 2012 that will pay $2.09 per AC watt installed with a total cap of $6,000. In addition, federal tax credits can result in a 30% reduction in total costs. These two programs can significantly reduce the total cost of the system.
This utility rebate can drop the Total Cost of the system up to $6,000!
The Tax credit can further reduce the cost of the system by 30%
In some cases, these two programs can cut the total cost of the system almost in half!
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Estimated costs to install a grid-tied solar photovoltaic system can vary depending on many factors. A few years ago the typical cost was about $7 to $10 per watt of installed solar. Today, with the current lower cost of solar panels, the total installed cost for a complete system is down around $5 per watt. Larger systems tend to cost less per watt because of economy of scale.
Utility rates have continued to rise with an average increase of at least 6% per year. When you consider that a grid-tied PV solar system should continue to produce useful power for at least 25 to 30 years or even longer, installing a grid-tied system can be a good investment. The typical return-on-investment, over a 25-30 year time span, can be as much as 7-8% per year.
Investing in Solar can be considered a hedge against inflation as costs continue to rise.
Solar PV grid-tied systems can increase the value of your home. Appraisals of homes with PV systems typically increase in value by $20 for every $1 reduction in annual utility costs. (if your PV system reduces your utility bill by $1,000 per year, your home value would increase in value by $20,000). California state law does not allow property taxes to increase for improvements to your home that include the installation of a grid-tied solar PV system.
Greene's Electric will provide a Solar Site Analysis and an estimated cost for a system at your residence. Included with this service, is documentation on the estimated Return-on-Investment for your particular installation.
Wholesale Solar has a web page that helps estimate the cost of a solar electric system for your home.
(Click on this link below to go to this Wholesale Solar web-page)
