Solar by the Numbers

Eric of Marlborough: Solar Electric and Solar Hot Water
“Solar was a leap of faith for me, but one I felt was the right thing to do.”
Kilowatt-hours, utility rates, SREC prices, rebate amounts, tax credits, net costs…the variety of numbers associated with installing solar energy systems can be mind-boggling. But for those with an appetite for data, solar-related numbers deliver a lot of satisfaction.
Eric of Marlborough, MA, is one of those customers. He waited years to install solar energy: “I became interested in the whole solar energy concept in grade school. In junior high, solar electricity was so expensive only NASA could afford it. I kept it in the back of my mind, and finally, the opportune time came – costs were within reach, and I was in a position to jump in.”
Since his 5,040-watt solar electric system went live in May 2010, Eric has tracked his production and savings diligently. So without further ado, we’ll let his numbers speak for themselves.
| Impact on Electric Bills | |
|---|---|
| % of electric bill covered by solar | More than 70% |
| Typical pre-solar monthly electric bill | $100 |
| Typical monthly electric bill with solar | $30 |
| Monthly SREC income | $125 |
| Net monthly income from solar | $95 |
| Solar Electric System Production | 2010 | 2011 | 2012 |
|---|---|---|---|
| January | 124 | 285 | |
| February | 0 | 415 | |
| March | 415 | 432 | |
| April | 524 | 714 | |
| May | 594 | 580 | |
| June | 664 | 684 | |
| July | 747 | 739 | |
| August | 711 | 644 | 716 |
| September | 523 | 471 | 516 |
| October | 432 | 381 | 345 |
| November | 276 | 341 | 350 |
| December | 213 | 274 | 179 |
Eric on solar energy costs: “I was a little apprehensive regarding solar electric at first, because of the substantial commitment involved financially, plus the usual contractor-related give and take. It was a leap of faith for me, but one I felt was the right thing to do. I have been pleasantly surprised. The system performs very well, and now has a couple years of performance under its belt. I am very happy with my systems.”
| System Costs | |
|---|---|
| Starting Cost (including $2,000 for electrical service upgrade) | $34,000 |
| Commonwealth Solar Rebate | -$10,500 |
| Eric's Out-of-pocket Cost | $23,500 |
| State Income Tax Credit | -$1,000 |
| Federal Income Tax Credit | -$7,000 |
| Eric's Net Cost — Less than half the starting price! | $15,500 |

