OK - but that's still only $1739/year revenue. Which would be a 6+ year payback.
I ran some quick numbers for my situation where I'm at a couple years ago, and concluded there would be a 20 year +/- payback. We don't have much for incentives though, and no SREC or buyback arrangement.
Not here in Ma. The net metering, state and federal incentives, state rebates, and SREC payments make a big difference
Here are the detailed numbers from the vendor for a 10 panel system, without inflation.. Looking at the details he had electricity a bit high (.28 / kwh, it's more like 0.25 in the winter and 0.15 in the summer)... but he also has SREC a little low ( he had $285 , the most recent ones have sold for $439). The solar energy production numbers are the most accurate. The initial cost was actually a little lower. I got an additional rebate/watt installed because my house assessment is less than the median for the county
From the vendor...
PV Material Details:
Solar Panel Manufacturer Solar World
Solar Panel Model SW 250
Total Number of Solar Panels 10
Total Solar Panel Wattage (STC) 2,500
Inverter Model Enphase
System Cost Details:
Total System Cost Without Rebate $11,450
Minus Rebate $2,000
Final Cost to You $9,450
Rebate Percentage of Total System Cost 17.5%
Amount Of Federal & State Tax Credit $3,835
Final Cost (after Federal Tax Credit of 30%, State Tax
Credit and MassCEC Rebate) $5,615
Total Estimated Yearly Solar Kilowatt Hours Produced 3,053
First Year Estimated Electricity Cost Savings in Dollars $870
Estimated S-REC Income $870
Profit Generated After 10 Years $7,803
Estimated Payback Year 4
Estimated Yearly ROI 24%
