When this eco-minded Huntington, NY couple came to us, they had already been told by another solar company they were not a good candidate for residential solar panels because of excessive shade on their roof.
Instead of dismissing them, Solar Dad helped them determine which trees were blocking the best sunlight from their roof and with the help of a local tree company, they were able to completely eliminate the barrier to renewable energy. While the self-described “treehuggers” were initially hesitant about cutting down trees, the deal was sealed when they realized that taking down just two trees would allow them to expand their vegetable garden as well as get 100% of their electricity from their new photo-voltaic panels.
- 28 ReneSola Virtus II 250W solar panels
- 3 PVPowered grid-tied residential inverters with integrated AC/DC disconnect
The initial cost of this PV system was $32,000 but after a $9,600 federal tax credit and a $5,000 state tax credit, the homeowners paid only $17,400. They financed their panels with Greensky, which had 0% interest for a year, which helped with the up-front cost. They installed in the fall, and got their tax credits a few months later in January and were able to quickly pay down a large portion of their balance.
Their electric bill has gone from $150/month to around $9/month, which covers the required basic line fees. They create more energy than they use most months and anticipate an annual payout from PSE&G of $150. Between the monthly savings of $141 and the yearly savings of $150, their $17,400 system will pay for itself in 9.4 years. After that, their electricity is virtually free.
Since they plan to stay in their home for many more years to come, our customers saw this as an investment towards their retirement. Electricity would be one less bill they had to worry about in their retirement years. And unlike a mutual fund investment, they don’t pay taxes on not paying a bill.