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If price is the main consideration here, then I must say that you couldn't find a more pro-active area and state to help offset the cost of Solar renewable energy. As an installer, I'm forced to know how to finance these systems as well as show a decent rate of return on the products. The current federal administration has helped open the door to even more funding for renewables like solar, but it doesn't help with the initial sting of the price. This stuff isn't cheap. But consider that we in this country purchase a fraction of the amount of solar panels that countries like Germany and Japan currently purchase. The product will always go where the demand is highest. We in this country haven't been progressive in our quest to convert from fossil fuels to alternative energies like solar and wind until recently. This country almost always was at the fore-front of technology and it's inception into day to day life, and yet even though this country built the first working solar cell, we are very minor consumers of this product on a world wide scale. We are behind other countries in our ability to produce good quality products. And now we are paying a price for our procrastination.
So, What does it cost? How soon does it pay for itself? Well, friends, feel lucky that you live in this state because we are well funded at the state level and our power companies are also helping to offset the cost by offering a set amount of money per watt to install this stuff. Why would they do this? Because we currently PURCHASE most of the power we use from other states that are using COAL-FIRED PLANTS to produce our power. The truth is that our dams on our rivers actually produce less than 20% of the power we in this state consume. So, it makes sense for them to give you a bit of money to help take the demand off of the already taxed power grid.
In the end, with all the financing available, the tax benefits and accelerated depreciation available to business', and incentives that the power companies provide to business' and home-owners alike, a typical solar array that produces about 1/3 to 1/2 of a home-owner's power consumption can pay for itself in about 3 1/2 to 5 years. And considering that this stuff has to be warrantied for 25 years, that's a pretty decent investment.
posted 3 years, 11 months ago
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