PV Gap

Miriam Said:

how much does solar energy cost?

We Answered:

I have a 2000 sf multilevel home in a hot climate. My system cost $26K, but I got $10K back from my utility and a fed tax credit, I got $2K, but it has been increased to 30%. I am expected to break even in my 6th year, it will be sooner, because my city just approved a 20% rate increase. In general it will be a large investment that will need to be paid upfront. However several companies have a lease program that basically will allow you to pay them the amount you will be saving on your bill. So, if your bill was $150 a month and you are saving $125, you pay $25 to your utility and $125 to the solar company. Some communities are giving low costs loans to home owners that will attach to the property like a property tax, so it is a low monthly payment and they aren't out any money if they have to sell their home.

My panels are guaranteed for 25 years. There is some maintenance involved and at around 12-15 years I will probably need to replace my inverter, which is around $1K. With rates increasing dramatically I will have at least 19 years of free energy while my neighbors will be paying double in less than 10 years.