Solar panels were to costly in 1978, when the prices were well over $300 per watt or more than $6 per kWh (kilowatt-hour). Today, with state incentives, that $6 per kWh cost has come down to around $0.09 to $0.12/kWh, a 99% drop! What this means for you is that you'll be guaranteeing yourself this electrical rate for the next 30 years, over which time we all know electrical rates from the utilities will be sharply increasing.
What do these lower prices and governmental incentives mean for the average homeowner? We are frequently seeing 15% annual returns on investments (ROI) - far better than the stock market, bond market, money markets, and long-term CDs. According to the National Appraisal Institute (Appraisal Journal - Oct. 1999), your home's value increases $20 for every $1 reduction in annual utility bills.
This means a 3.0 kW Photovoltaic (PV) system increases your home's value by $17,520 and costs you less. So you're money ahead on day one!
State and Federal Solar Incentives
Several states currently offer rebate programs. California
In addition, there is a further Federal tax credit of $2000 for your renewable energy system (solar or wind) after rebates. This comes directly off of the amount of income tax that you owe. For businesses, there is also a 30% Federal Investment Tax Credit that can be carried forward 15 years or back three tax years. The "MACRS" five-year accelerated depreciation schedule is also applicable. Businesses often seen paybacks as low as three years and internal rates of return in excess of 25%.
For more information check out http://www.realgoodssolar.com/ This company was founded 17 years ago right here in Southern California.
No comments:
Post a Comment