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A. The intangible returns are priceless – the satisfaction on your kids’ faces when they tell their friends you’re making clean power; the feel-good factor of opening your first negative-balance electric bill; or the giggles you get the first time you see your electric meter “spin backward”. But there is also a very real dollar and cents part of the equation. A typical 5-kW system provides around 16% Annual Return, and a whopping 10-year ROI of 250%.
A. The money you invest upfront is recovered through (1) the money you save on electricity, (2) the income you generate by selling SRECs (Solar Renewable Energy Certificates), and (3) the credit you get on your federal income taxes for one or two years.
A. Most residential solar electric systems are paid off in 4-8 years, the fastest ever, because Massachusetts is so solar-friendly right now. Solar electric systems for businesses break even in about 4 years.
A. The estimated first year savings for a home system is about $900 for a typical 5-kW system.
A. You can’t see, hear or smell an SREC, but it exists. Think of it as a unit of value for the “green-ness” of the solar energy you produce. SRECs are fairly complicated; contact us for a copy of our SREC information sheet or to have us explain SRECs to you.