The proof is in the pudding, as they say. I have always wondered exactly what kind of proof they were looking for in said pudding – but that’s a topic for another day.
Today, we are going to show you a case study from a home that recently went solar.
This is simply for educational purposes and should not be used to compare to your home. EVERY HOME IS DIFFERENT! This will however illustrate the potential of solar energy for your home.
-Electric Bill = $266/Month Average
-2-Year Average Annual Electric Usage = 21,848 KwH
-Solar Monthly Payment = $207
The Cost of Doing Nothing
First we will look at the cost of doing nothing and staying with the utility for 30 years. Keep in mind you will pay for electricity either way.
+Actual Annual Cost Today: $3,192
+A conservative annual inflation of Utility Rates at 1.87%
=Total Cost of Staying with Utility next 30 years: $126,481 The Costs of Solar
Total Project Cost
-Total Financed Amount = ($58,083)
-Federal Tax Incentive Credit = $15,102
Net Cost of financed system = $42,982
-Interest Paid at 2.99% 25 Year Term W/ No Additional Principal Payments = $18,099
-$ Paid to Utility Company over 30 year period = $4,299
=Total All-In and Fully Transparent Cost of Solar over 30 year = $66,424
Cost of Staying with Utility for 30 Years = $126,481
– Cost of Solar over 30 years (You’ll own it after 25) = $63,638
=Savings over 30 years = $60,057
Quantifying The Impact Solar For Your Home Can Have On The Planet
Additional Value received but not included in Above Calculations:
-Approximate Home Value Increase: *4.1% on $240,000 = $9,840
-Value Added after Year 30 also not accounted for. Average life of a system is 35-40 Years.
-Caliber Renewable Post-Install Customer Appreciation Incentive = $1,742
-Tree removal & Trim = $2,800