How Much $ Could You Save by Going Solar?

By
Real Estate Agent with RE/MAX Results

Let’s calculate some savings for you with a case study:

  • Assumptions for Mr. & Mrs. Homeowner with 2 teenage children;
  • Average monthly utility bill: $230;
  • Annual utility rate increase: 5.5% per annum (avg. of last 30 years in CA)

Mr. & Mrs. Homeowner get a qualified energy audit done of their home (appx. $500-800, depending on your part of the country) and it’s recommended they install a solar system to help heat their home, hot water, and even supply excess energy BACK to the energy grid (think of this as your roof making money!).

Mr. & Mrs. Homeowner decide to go ahead with the recommended improvements. They have a 1100kWh/month, 4kW solar system installed at an approximate cost of $26,000 – but with all the available tax credits (State and Federal) and alternative financing methods available for energy-efficient improvements to their home, the final cost to Mr. & Mrs. Homeowner is around $15,000.

Within the first 5 years of use, the system will help save the Homeowners $2,528 on their electric bill. Over the life of the system (avg. 25 years), they will save over 35% or $44,000 on their utility bills. And this isn’t even including the energy that is sold back to the grid, which will result in even higher savings!

*Data courtesy CleanPowerFinance.com

-TMC

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Tags:
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Rainer
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Diego A. Perez
Connecticut Lawn Painting - Wilton, CT

Hey Tim, good brakedown, It gives a good idea of what the average consumer may encounter.

Regards.

Jun 17, 2009 12:50 PM #1
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Rainer
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Tim Cahill

MBA, EcoBroker
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