Typical Solar PV Financial Picture
A homeowner who spends $25,000 on a 5 kW photovoltaic system will receive at least $2000 in rebates and approximately $8,500 in tax credits, reducing net cost to less than $15,000. Then, every year, the owner will make approximately 6 megawatt hours of electricity and so earn 6 SRECs.With SREC revenue and electicity savings, the homeowner’s system will pay for itself in 4 to 7 years. It will make electricity for 25 years or more with little or no maintenance.
These financial numbers can be even further enhanced with the bulk purchasing power of the Solarize Newburyport Program!!