By Shane Woolbright, Northern New Mexico Group
In a previous issue of this newsletter I wrote about the efforts and the hassles of putting solar panels on my home. Now, let’s look at the economics.
My 3,000-watt system cost $12,300. My federal tax rebate was $3,690, while my state rebate will be $1,230. I convinced a neighbor to go solar with Sungevity, which gives Sierra Club Rio Grande Chapter $750 for each system and will give me $750 for finding a new customer for Sungevity. So giving credit to the funds going to Sierra Club, my system had a net cost of $5,230.
For that I have not paid a bill to PNM since the install last winter and currently have 493 kwh in the bank for generation above my usage.
The amount generated has been above projections. My savings are about $50 per month for the winter months and will exceed $60 per month this summer as I don’t use more than 500 kWh in most months.
The solar units are netting me over $600 per year. So I should have all my money back plus interest in 12 years.
I’ll also have helped the Sierra Club with its funding and will have eliminated my electric carbon footprint.
If you don’t have a spare $12,000, no worries. Sungevity as well as other solar companies will provide funding so that you pay for the solar panels in an amount similar to your power bill. You’re not out more money per month, but you will cut your carbon output AND help our local Sierra Club.
To learn if you’re eligible for Sungevity’s $750 discount and chapter donation, request an iQuote at content.sierraclub.org/solar/sungevity?ref=203 or call Sierra Club Solar Homes Coordinator MacKenzie Cane at 415-977-5634.
Feature photo by Alex Snyder in Wayne National Forest
Licensed under Creative Commons