Energy Audit | Weatherization | Solar | How it Works | Rebates | Process | Benefits
Residential Solar Energy | apply
You have probably heard it on TV, newspaper, radio, or even drove by a house that has solar panels on the roof... everyone is "Going Green". People are making that step into the energy revolution and it could not have come at a better time for the consumer... because there are incentives available that can reduce your solar purchase up to 40% or more. But these incentives will not last forever so it is important to act quickly before they expire.
Renewable energy is paving the road into the modern world's sustainable future with solar technology leading the way. It is a fact that we are burning more fossil fuels and relying more and more on foreign resources than previous years and the supply will soon no longer provide for the demand. Solar truly is the answer to this energy crisis.
The Cost
A typical Residential Solar System costs generally between $25,000 to $80,000 (or $7.00 - $9.00 per watt) and the combination of location, type of system and the building's structural integrity play a role in additional expenses (if any). Although it is a high initial cost, with the rebates, tax credit and SREC's you can easily have a 40% or more return within the first year alone. Coupled with the benefits, you can easily have your system pay for itself within 5 or so years which is comparable to recent system paybacks of 15+ years. After it pays for itself and with the SREC incentive, you then can receive a positive revenue stream from your system.
M2M Energy understands the cost behind a solar system. We are dedicated to helping you obtain your energy and financial freedom as we are affiliated with several financial institutions enabling us to help you in seeking financial aid to cover these costs.
In order to help you understand the costs we have produced an example break down of a 3,500 sq ft home below. This example is based on a standard installation where the roof mounted solar system did not have any structural or outstanding issues with the design or construction of the project.
| Example Residential Home | |
| Annual kWh Usage: | 15,000 kWh/yr |
| Avg Electric Bill: ($0.20/kWh) | $3,000/yr ($250/mo) |
| Solar Electric Size Installed: | 7.5 kW |
| Solar Electric Generation: | 9,000 kWh/yr (covers 60%) |
| Initial Cost: | $60,000 |
Year 1 Outlook |
|
| State Rebate: | $5,625 |
| Federal Credit (30%): | $16,313 |
| SREC: | $5,967/yr |
| Avg Electric Savings: | $1,800/yr ($150/mo) |
| Total Benefits | $29,705 (49.5% savings) |
| New Avg Electric Bill: | $1,200/yr ($100/month) |
| Final Cost: (within 1st year) | $30,295 |
Year 2 until Payback |
|
| Initial Revenue: (SREC + Electric Savings) | $7,767/yr (approx) |
| New Avg Electric Bill: | $1,200/yr ($100/month) |
| Adjusted Revenue: | $6,567/yr |
| System Payback: | 4.6 Years |
Payback until Year 15 (SREC Program Ends) |
|
| SREC + Electric Savings | $7,767/yr (approx) |
| New Avg Electric Bill: | $1,200/yr ($100/month) |
| Adjusted Revenue: (positive cash flow) | $6,567/yr |
| Accumulative Cash Flow: | $68,297 |
*Rebates and Incentives are based on July 2010 rates and are subject to change without notice. Please visit www.dsireusa.org for current rates.
