PSREC has a rebate program for 2010 that will pay $2.42 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. Plumas Sierra Rural Electric Cooperative had an article in the May 2009 Ruralite, that stated that grid-tied PV systems typically cost $7 to $10 per watt of installed solar. 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 6-7% 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)
