My energy cost savings are dependent on the weather but based on my estimates, well save about $3,000 per year here. Lastly, I can register to sell Solar Renewable Energy Credits to power companies.
In my state, I can register to sell them in Washington DC and PA. My system should generate about 10 SREC´s per year and the current market price is about $300 / SREC so that will generate another $3,000 per year. All told, I calculate that we´ll recoup our investment in less than 2 years. Assuming that that energy costs stay the same, we´ll then save $3,000 per year for the life of the system (warrantied for 20 years).
If the SREC programs continue to stay in place, we´ll also get another $3,000 per year from that. Over the remaining 18 years of the system, that equates to $108,000 over and above the initial cost. We´ll also benefit from the good will created by our efforts. Since installing our system, we´ve been asked to host an event by our local economic development authority because this year´s theme was “Shades of Green, the Future of Business”.
This event was attended by local businesses and media. We picked up a couple orders from it already and there was an article in the paper that included photos of the event along with quotes from me. Since then, we were interviewed for a feature story in the newspaper and have had a TV station contact us about doing a story.
The last benefit I´ll mention may or may not be important to you – It´s good for our environment. The inverters we purchased provide reports that tell us how much power is generated and estimate of how many pounds of CO2 have not been generated by using this renewable energy. In the 21 days since our system has been running, our inverters estimate that over 2,000 lbs of CO2 have been saved. I´m not a tree hugger but I can´t find a thing wrong with that. Thanks Sun Electronics! Performance signs