Let’s really drill into the benefits our latest solar customer is reaping from their new solar panel array. This is a 32 panel system on a low pitch gable roof facing east and west. Estimated production from the 265 Watt Sun Edison Solar panels will be 920 kwhs. With the efficiency savings of their new NEST thermostat total monthly savings should be about 980 kwhs.
This amounts to $124 in monthly savings and $1,488 in yearly savings. These owners benefit from a federal income tax credit worth $9,815. In this situation they will claim $4,000 in 2014. $4,000 in 2015 and the remainder in 2016.
When the tax credit is fully received this solar home owner’s monthly expense on solar is about $189. They can pay off the solar whenever they like or pay down the monthly payment to whatever they choose it to be. When the homeowner decides to pay off the solar they will have no more cost for about 980 kwhs of monthly electricity and over the 25-year power output warranty of the panels they will save about $32,976 in avoided electric bills. They deny the utility company that money and instead increase the value of their home by as much as $30,000 upon resale.
In the meantime in the event of a hurricane or utility blackout, they have the ability to draw 1,500 watts of emergency daylight power directly from their solar panels. This feature comes from their specialized inverter located in the garage next to the main breaker. The only maintenance required of the panels is a yearly cleaning of soap and water.