ECOstrive – Installing solar power systems can be more affordable than you think. Many power companies will refund up to $30,000 for your system, plus give you credit for any extra electricity you generate. The result? How about an electric bill that is up to 90% less.
With some power companies refunding up to $3 per watt DC of rated solar power installed in an on-grid installation, cost of many rooftop solar power systems are reduced by up to $30,000. Combine this with a Federal Tax Credit of 30% of the system cost, up to $2000 and some State Tax Credits (Arizona gives 25% of the system cost up to $1000), you can get a pretty powerful system for under $30,000.
The economics of a solar array on your home are pretty strong. Besides reducing your greenhouse emissions by about 10,000 pounds per year, you can have an electric bill that is 50% to 90% less! Much of this reduction is because most utilities offer “net metering” to their residential customers. Since on-grid solar electric systems don’t have any form of storage, if there is any excess power the home is not using (for example, when you’re not home during the day), it gets sold back to the utility company at the same rate they charge you. Your meter literally runs backwards, and they simply bill you the net difference at the end of the month. If your meter reads a net negative for the month (you produced more than you used), each utility company will handle this net excess generation differently.
Newer solar arrays look better than they used to, but your homeowners association will have less and less say over installing them. In Arizona, a bill was signed preventing HOAs from blocking the installation of solar panels on the roof of homes. It would seem that many more states will follow suit. Now is a great time to look into solar panels on your home.