Tax Credits reduce 30% of the money you will pay to the power company.
Example 1: 3.5KWH Grid Connected Photovoltaic System
The best way to get started, this system produces 3.5 kilowatts of power for each hour
the sun is up on a clear day. Here in the sunny south we can expect to see 268 day of clear sky. In the winter time we get
about 5 hours of sun a day with 10 hours in the summer. So, this system could generates as much as 5016 KWH per
year from a 3.5 KWH system.
The most important part is the
production in the peak hours of the summer when energy cost are at their highest price. Summer peak rates can be 20 to 35
cents per KWH depending on your energy supplier. Installation
only takes 1 business week with no interruption of power. Installations
vary by design, and systems can be installed on the ground, on poles or on a building.
Your savings on your electric bill will vary by use, but this system should cover 30% of your cost
from the first day residential, with returns of $900.00 per
year. Your return on the investment is 5 years or less for full payback. The rest of the system's power generation
life is yours for free. Solar power also adds 130% value to your home building, making the installation of photovoltaic the
best return for your remodeling dollar.