Solar PV - Save Money & Shrink Carbon Footprint

[Xist]

Can I have them?!

[NeilBlanchard]

We produced a touch over 9MWh from April 6th to December 31st 2018. We have received a payment of about $580 for 2 SREC's, so far. We saved nearly $1,900 by generating that 9,010 kWh.

[redpoint5]

How much was the total out the door cost, both without, and with subsidies?

[NeilBlanchard]

Originally Posted by NeilBlanchard

We have two electric cars, and we drive a total of about 2,500 miles a month. When we charge both cars, it takes about 80kWh. Which around here would costs $17.50.

The system was about $38,500. The payback is calculated by their spreadsheet, and it includes the 30% federal tax rebate, the $1,000 Mass state rebate, electricity savings, and SREC's. The SREC's will pay us about $2,000-2500 a year.

We will be apply much of the tax rebates to the loan, which is bring down the monthly payment substantially.

Remember, we burn very little natural gas, because we heat mainly with the mini splits. And we use our one gasoline car only 50-100 miles a week. Those are big savings, that aren't part of the calculations.

[oil pan 4]

I'm going with 0 subsidies, probably 0 tax breaks, 0 financing.
All mine.

[sendler]

Originally Posted by redpoint5

How much was the total out the door cost, both without, and with subsidies?

He has $40,000 into his installation. But that is very high for a 10kW system. Wholesale solar offers the parts for 10kW with enphase micro invertors for $16,000 or DC optimizers Which is the way to go if you ever want to think about adding batteries, for $14,000.
.
https://www.wholesalesolar.com/18943...ar-310w-panels
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https://www.wholesalesolar.com/18915...ar-310w-panels
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$2,600 for 20kWh of flooded batteries.
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https://www.wholesalesolar.com/99601...ed-l16-battery
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And the USA is giving back 30% and New York State is giving back 25%. Which means it really will pay back even in NY with it's 13% capacity factor. If you have a south facing roof. With no trees blocking it. Which I do not.

[NeilBlanchard]

On April 2nd, we hit 12MWh total production from our 10.1kW system. On April 6th, it will have been producing for 1 year.

That is just over half (50.2%) of what we used over that period, saving us about $2,110 on electricity. We have received 2 SREC's quarterly payments for a total of about $1,350 (there is a delay to this process). The next 2 quarters are likely to be at least that much, as well.

Our monthly loan payment is about $329, so we have paid about $3,945. For the year, that puts us about $800 "ahead". Our tax credit is paying for the windows in the attic addition, and the rest will pay down the loan principal; so it will be reamortized, and lower our monthly payment, hopefully by about $100.

In addition, we have will have no gasoline costs, going forward; and no costs for oil changes and tuneups, etc. We used only 153 therms of natural gas for cooking, clothes drying, and several weeks of steam heat for our house.

All told, we will pay for the solar PV system in about 6 years - a 16.67% annual return!

[oil pan 4]

6 years is good.
If I wanted to generate power for profit the break even point would be about 10 years with 3 cent a kwh generation rate.
Maybe 7 years if I can find used panels, used cheap 480v inverters, build the ground mounts out of junk I get from the scrap yard and junk from work.

[sendler]

The price of electricity in the North East USA is among the highest in the world. This shows a good example of how super high energy prices and effective big government incentives can create signals in the market to force a new techno transformation forward. A world carbon (in addition to other non-renewable resources) tax right when it leaves the ground would do the same thing to push the markets in a more sustainable direction. If only there was a way to cooperate wisely as one world.

[Xist]

Solar panels are more expensive in Hawaii, aren't they, even though they are closer to China?

Doesn't Hawaii have the most expensive electricity in the U.S.?