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soal system

Hodge

Active Member
Just thought I would share my experience with installing a solar system on my pole barn. The math just doesn't make sense why I don't see more of them around. I think it is still kind of "new" around here. Anyways here are the breakdowns for my system.

for a 12.075 kW system

initial investment $30,270.09
federal tax credit $9,081.03
net cost after first year $21,189.06
Solar renewable energy credits $16,340.00
net cost after all incentives $4,849.06

federal tax credit is 30% of total cost, that you will get back on next years taxes.
SRECs are credits the government pays you for just producing clear energy. This is a 5 year contract that is worth about $215 a credit. (based on megawatts produced) so over 5 years I will have produced 76 at $215. I was told they are restructuring this program at the end of the year but details are not out yet on what they are going to. I imagine it wont be as much money but it still beats getting nothing. This is where the numbers get good.... if I was to keep paying my electric bill over the next 25 years I would pay $79,500. With this system installed, I will MAKE $74,453 !!
 
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