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Copyright © Savant Solar LLC 2008. All rights reserved
Copyright © Savant Solar LLC 2008. All rights reserved
New York Homeowner (Con Edison Customer)
Initial Investment
5,000 Watt Solar Electric System:$42,000
NYSERDA Rebate: ($4.00 Per Watt)- $20,000
Net Investment:= $22,000
NYS Solar Income Tax Credit:- $5,000
Federal Tax Credit:- $2,000
Net Investment After Tax Credits:= $15,000
Annual Value
Yearly Electricity Produced: (6,350 kWh at $0.215/kWh)= $1,365
Return on Investment
Annual Rate of Return: ($1,365/$15,000) Comparable to a 11-13% return from a taxable investment9.1%
Years Until Payback
Payback of Net Investment from Value of Annual Production:8-9 years
* Note this is an estimated value and average annual rate escalation of 5.5% -- what rates have done in NY over the last 30 years.
Long Island Homeowner
Initial Investment
5000 Watt Solar Electric System:$41,750
LIPA Rebate: ($3.50 Per Watt)- $17,500
Net Investment:= $24,250
NYS Solar Income Tax Credit:- $5,000
Federal Tax Credit:- $2,000
Net Investment After Tax Credits:= $17,250
Annual Value
Yearly Electricity Produced: (6,436 kWh at $0.21/kWh)$1,352
Total Annual Value of Solar Production:= $1,352
Return on Investment
Rate of Return: ($1,352/$17,250) Comparable to a 11-13% return from a taxable investment10.1%
Years Until Payback
Payback of Net Investment from Value of Annual Production:9.98 years
Initial Investment
5,000 Watt Solar Electric System:$42,000
NYSERDA Rebate: ($4.00 Per Watt)- $20,000
Net Investment:= $22,000
NYS Solar Income Tax Credit:- $5,000
Federal Tax Credit:- $2,000
Net Investment After Tax Credits:= $15,000
Annual Value
Yearly Electricity Produced: (6,350 kWh at $0.215/kWh)= $1,365
Return on Investment
Annual Rate of Return: ($1,365/$15,000) Comparable to a 11-13% return from a taxable investment9.1%
Years Until Payback
Payback of Net Investment from Value of Annual Production:8-9 years
* Note this is an estimated value and average annual rate escalation of 5.5% -- what rates have done in NY over the last 30 years.
Long Island Homeowner
Initial Investment
5000 Watt Solar Electric System:$41,750
LIPA Rebate: ($3.50 Per Watt)- $17,500
Net Investment:= $24,250
NYS Solar Income Tax Credit:- $5,000
Federal Tax Credit:- $2,000
Net Investment After Tax Credits:= $17,250
Annual Value
Yearly Electricity Produced: (6,436 kWh at $0.21/kWh)$1,352
Total Annual Value of Solar Production:= $1,352
Return on Investment
Rate of Return: ($1,352/$17,250) Comparable to a 11-13% return from a taxable investment10.1%
Years Until Payback
Payback of Net Investment from Value of Annual Production:9.98 years
Energy Savings:
By installing a solar system, you immediately start saving on your utility bill. Within the first month you should see a dramatic difference, with a greater savings to come each month as the cost of electricity continues to increase. With electrical rates and demand expected to double over the next 15 years, you will have the peace of mind in knowing that your power is clean and free.
Increased Home Equity Value:
Recently the Appraisal Journal and Wells Fargo came out with a study that stated a solar electric system will add value to a home at a rate of 20:1 of the avoided utility savings. That would mean that the average 5kw system would add $25,000 in equity value.
Environmental impact:
More importantly than financial savings are the environmental savings. By harnessing the power of the sun, a carbon-free source, you are taking a significant step towards helping the environment and future generations prosper. You are helping to eliminate three of the largest contributors (poisons) of green house gas that are largely contributing to Global Warming. The average 5kw system will save over 11,000 pounds of CO2 from entering the atmosphere.
More importantly then financial savings are the environmental savings. By harnessing the power of the sun, a carbon free source, you are taking a significant step towards helping the environment and future generations prosper. You are helping to eliminate three of the largest contributors (poisons) of green house gas that are largely contributing to Global Warming. The average 5kw system will save over 11,000 pounds of CO2 from entering the atmosphere.
By installing a solar system, you immediately start saving on your utility bill. Within the first month you should see a dramatic difference, with a greater savings to come each month as the cost of electricity continues to increase. With electrical rates and demand expected to double over the next 15 years, you will have the peace of mind in knowing that your power is clean and free.
Increased Home Equity Value:
Recently the Appraisal Journal and Wells Fargo came out with a study that stated a solar electric system will add value to a home at a rate of 20:1 of the avoided utility savings. That would mean that the average 5kw system would add $25,000 in equity value.
Environmental impact:
More importantly than financial savings are the environmental savings. By harnessing the power of the sun, a carbon-free source, you are taking a significant step towards helping the environment and future generations prosper. You are helping to eliminate three of the largest contributors (poisons) of green house gas that are largely contributing to Global Warming. The average 5kw system will save over 11,000 pounds of CO2 from entering the atmosphere.
More importantly then financial savings are the environmental savings. By harnessing the power of the sun, a carbon free source, you are taking a significant step towards helping the environment and future generations prosper. You are helping to eliminate three of the largest contributors (poisons) of green house gas that are largely contributing to Global Warming. The average 5kw system will save over 11,000 pounds of CO2 from entering the atmosphere.
State incentive:
Currently NYSERDA (New York State Energy Research and Development Authority) are offering incentives to all residential customers who pay into the SBC (societal benefit charge) funds collected by the major utility companies. The upfront rebate is $4.00 per DC watt up to 5000 watts and $3.00 per DC watt from 5001 watts to 10,000 watts. That equals 50-40% of the system cost.
State Smart Loan:
New York Energy $martSM Loan Fund provides interest rate reductions on loans for energy efficiency projects and renewable technologies. Interest rates for loans can be reduced by 4.0% for up to 10 years. The maximum loan amount is for $20,000.
Currently NYSERDA (New York State Energy Research and Development Authority) are offering incentives to all residential customers who pay into the SBC (societal benefit charge) funds collected by the major utility companies. The upfront rebate is $4.00 per DC watt up to 5000 watts and $3.00 per DC watt from 5001 watts to 10,000 watts. That equals 50-40% of the system cost.
State Smart Loan:
New York Energy $martSM Loan Fund provides interest rate reductions on loans for energy efficiency projects and renewable technologies. Interest rates for loans can be reduced by 4.0% for up to 10 years. The maximum loan amount is for $20,000.