Solar Technology

Saving Money with Solar Power

Solar provides an outstanding return on investment over the course of your system’s life. In fact, in most cases, your solar energy system can provide positive cash flow from the day it is installed. Your savings are likely to increase over time because energy rates are likely to go up. Most utility company’s rates have been increasing at a rate of 6.7% a year, with a jump of 30% in the last three years alone.

Additionally, your home’s value will increase by $20 for every dollar reduction in annual utility bills, according to the National Appraisal Institute. Despite the increase in your home value, your property tax will not increase at all.

Economic Impact

System Size (watts) Average Electric Bill (monthly) New Electric Bill 1st Year Savings
3,500 $75  $0 $7,000
4,725 $100 $0 $9,500
7,000 $150 $0 $13,000
10,000 $200 $0 $17,500
10,000 $300 $100 $17,500
10,000 $400 $200 $17,500

Return On Investment

Your solar solution will yield a 15-20% return on investment based on the purchase price less rebates and tax credits. As an example a typical home in NJ might use a 8,000 KW system:

$36,000 Installation Investment
- $2,000 SREC Income & Electric Savings
- $10,800 Federal Tax Credit
$23,200 Actual First Year Cost

35% Recovery of First Year Investment

This is only an example as many factors influence these numbers.
To get a more accurate quote, contact us for a free site survey and estimate.