With so much information floating around the net on solar installation, it is often hard to differentiate fact from fiction. Here are a few frequently asked questions.
Why should I install a PV solar system? There are many environmental reasons to go solar and reduce your carbon footprint. But it is also a great financial decision. It is believed that most photovoltaic (PV) solar systems yield 15-30% per year Return on Investment (ROI), tax-free.Not only that, but electricity rates have gone up an average of 5.4% per year for the last 39 years. This rate is likely to continue to increase over the next decade.
Can a PV system actually pay for itself? Yes! Between state and federal tax incentives, you can save about 35-50% of your total installed system cost. When this is combined with Time of Use (TOU) metering, PV systems are extremely attractive from a financial standpoint. If you use a home equity line of credit to pay for your system, you may see an immediate financial benefit (that is, the cost you pay on the loan per month will be less than the amount you save in energy). ... read more
