GOING SOLAR AS OF MID 2012
Much has happened in the last 3-4 years to really reduce some of the costs associated with solar power systems in general, and photovoltaics ( PV ) in particular. The Solar panel, or module, industry is in a period of consolidation which is great for per watt pricing, but also means that we have to be more careful than ever to work with companies we think are stable and capitalized well enough to be around for the long haul. That’s the bad news.
The good news is that efficiency levels, or how much sunlight is converted to electricity, have climbed steadily, much of the other need system components have also seen rises in productivity and quality, though prices for them have tended to remain more constant.
Prices for Solar power systems using PV have declined to around a $4.50 per watt ceiling for a high quality end product that will have 30 plus years of useful life, and can go as low as in the $3 range for much larger wattage systems. Both home and building owners have several tax benefits still in play to help offset costs, and we may see utility sponsored rebates in the near future that will reduce costs even more. Exact needs for any house or building are dependent upon either’s special needs, and we can determine what will work best and for the best use of financial resources. Regardless, at present we can likely see a full recoupment of a PV system’s cost in around 10 years, when electric bill savings and tax benefits are added together, and with a projected 3.5-75% Return on Investment. Obviously a new rebate program would drop years off the ‘payback’ time and increase the ROI, and the likelihood of higher electric rates in the future will also add to the benefits.
If you’d like to know what can be done for your home or building, please call us or send us an email. We will arrange a detailed look at your needs at no charge and create a PV system design especially for you.