Financial Benefits

Cost of Solar
Typically solar installations cost approximately $6.50 - $7.00 dollars per AC watt in a turnkey system. So a 3kW (3,000W) system might cost $20,000 average cost before rebates. HOWEVER, Federal, state, and local rebates can bring the price down considerably, and in some locations, magnificently. The size of solar system that you need will depends mostly on how much electricity you use, as well a long list of other criteria that an installer or sales professional will evaluate. Tilt, orientation, and shading of your roof are examples of some of these

FINANCIAL BENEFITS:        
Save On Electricity Costs
Your solar system will reduce your electric costs. When your system is producing more power than you are using, you sell that power to the utility company. As you do so, your meter actually spins backwards! It’s a really empowering thing to watch.              

Stabilize Your Monthly Expenditures
Have you ever said, “I can’t believe they’re raising our electric rates?” What if every time they raised electric rates you effectively got a raise? If you have a solar system on you is roof producing a commodity like electricity, that’s exactly the case? Power costs go up, your post costs the same. The sun, to the best of our knowledge, has no plans to charge you.           

Solar Increases the Value of Your Home
For each $1 you save in electric costs annually, your home jumps up $20 in value, according to a study from the Appraisal Institute.

Positive Return On Investment
Have you ever asked a car salesman what the “pay pack period” is for a car? There isn’t one. Solar is one of the few things you can purchase that pays for itself.

Creative Financing Products
Even if rebates and incentives are paying for more than half of the costs, there can still be a considerable cash outlay to the consumer. Interestingly, if you finance with a home equity loan (note: you might be able to deduct the interest there) many people find that their electricity savings are greater than their loan payments, meaning that they save money from day 1.

Federal Solar Incentives:
Starting in 2009 the $2,000 cap on the Federal Solar Tax Credit has been lifted and instead it is 30% of the out-of-pocket cost with no cap. This rebate is a reduction of your tax obligation. It is not a deduction, it’s a credit. As good as cash and can be rolled over if you don’t have that tax liability.  Note, if there is a rebate provided by a utility to a homeowner as an inducement to install solar equipment, then the basis of the solar equipment is reduced by the amount of the rebate.