Residential Solar Installation
Generate your own clean, renewable energy. Going solar not only provides immediate savings on your electric bill but also adds significant value to your home and secures a strong return on your investment.
Why Homeowners Are Making the Switch to Solar?
- Own your electricity instead of renting it. You own your home; why do you rent your electricity?
- Protect yourself against rising electricity bills with solar panels
- Add significant resale value to your home with a solar energy system. According to Zillow, homes with solar sell for 4.1% more!
- Earn a safe and solid return on your solar system investment with upside potential
- Make an environmental statement to your community and reduce your carbon footprint
- Reduce our country’s dependence on fossil fuels
The Cost of a Residential Solar Energy System
This is just one example of a solar energy electric system based on receiving the federal solar tax credit (Investment Tax Credit). The size of these systems is dependent on your electricity usage, site space available, and budget.
10,000 Watt System*:
Total system cost: $30,000
30% Federal Solar Tax Credit: $9,000
Out-of-pocket system cost: $21,000
Monthly utility bill savings: $167 (based on typical regional utility rates)
Taxable equivalent annual return: 14.4%
* These values are for a typical roof-mounted solar panel electric system installation performing at 85% site efficiency. Price includes equipment (solar panels, inverters, etc), solar installation, permits, and a web-based solar monitoring system. Electricity prices are based on current rates for typical regional utility customers. Return on investment calculations are based on an assumed 30% federal investment tax credit, a 25% federal tax bracket and a 4% annual inflation rate for electricity prices and are for illustrative purposes only. We recommend that any financial calculations be reviewed by a qualified accountant or financial adviser.
