If you have not yet signed up for a free solar evaluation, look at this example system from an actual Solarize Newburyport homeowner going solar.
This homeowner is installing a 16 panel, 3.8 kW system that will make approximately 4000 kWh of electricity each year, covering all of this home’s annual electricity.
Then, the savings of the Solarize Newburyport model take effect. As adoption across Newburyport increases, the cost of the solar decreases for everyone. Even though this homeowner signed up early in the program, he will receive the price at the best tier achieved by the entire community:
The gross price decreases from $19,000 all the way down to $15,000. At Tier 5 there is a savings of $5000: 25% of the cost of the system.
Now this cost savings has a significant effect on the Investment Return, as seen in the system’s ROI projection:
At Tier 1, this is an excellent investment. Payback occurs in year 6 with an internal rate of return of 17%. A Tier 5, payback is achieved in year 4 with an IRR of 23%. This on an investment that has a 25 year warranty on the output of the panels.
The Solarize Newburyport program is designed to reduce the cost of solar for everyone in the community, so sign up now to learn if your site is good for solar!