Comments on: Will Solar Lower My Electric Bill?

By: Solar Panel Cleaning

Solar Panel Cleaning — Tue, 07 Jul 2009 06:07:34 +0000

Saving the environment and saving money makes sense. If you gone green or consider going green, then you should also consider proper cleaning care for your solar panels to help you maximize your energy output!

By: Robert

Robert — Tue, 02 Jun 2009 04:12:37 +0000

Also be sure to check with your state and municipality as some offer incentives to home owners to encourage them to remodel their home to make it energy efficient.

By: n8lew

n8lew — Wed, 13 May 2009 17:37:44 +0000

Great writeup Michael. Not a lot of people remember to include the increased appraisal value of the home. It’s also important to note that the increased appraisal value is tax free, unlike interior improvements to the home like room additions.

Thanks for following.

By: Mike

Mike — Tue, 28 Apr 2009 17:46:14 +0000

First off, I do not believe in Global Warming but I do believe in saving money and natural resources.

I too did question the costs and figures with installing solar. Here are my real world numbers that show I will make my money back in 3 years with my PV system.

I installed a $33,600 3.68kWh PV system.
I received a $10,000 Federal Tax Credit (Courtesy of the 1st Bush Stimulus Package Oct 2008)
I received a $9,200 Maryland State Grant (Taxed by the Federal Government at 28% – $6,624)
I receive a $38.18 Maryland State Tax Credit (3 year total ~$114)
I save $655 in electricity per year (3 year total $1,965)
I earn $2,700 in SRECS (3 year total after tax)
Total return after three years – $21,403

In addition, there is a formula to compute the value added to your home. Obviously, a $33,000 system does not add 33K to the value of your home. Most home improvement projects like a remodeled kitchen or bathroom return 80% – 85%. As per a 1990’s survey of home prices with solar and without solar – they determined that for every one dollar saved in electricity it adds $20 to the value of your home. Therefore, saving $655 per year in electricity x $20 adds $13,100 to the value of your home.

Added value to my home – $13,100

Therefore, after three years – I will have saved $21,403 and gained $13,100 in home value = $34,503

If you do not calculate the increase in home value the breakeven point is 13 years. Please keep in mind that Federal and States offers are constantly changing grants and tax breaks. (For example – Maryland halved their Grant in 2009.)

In my case getting solar was a no brainer. My ROI is 7-8% per year – better than Bank CD’s or the volatile stock market. I would suggest that each person research their state grants to see if solar is worth it. You may just be surprised.

By: Jan Chu

Jan Chu — Thu, 16 Apr 2009 05:29:30 +0000

we are specialized producer of solar cell and panel. I am so happy to see people now realize how good to run solar panel on their roof. And the government support it much more than before. It is not only to save money, it is also to save our nature.

My company, Ulica, honored to offer solar panel to let people use solar energy.

If you are interested, please contact me: janchu@126.com