Economics of Solar

Go Solar Today and Start Saving Tomorrow!

We can all begin harnessing the sun’s energy to make our homes more efficient and environmentally friendly. The best part is that when you use solar energy to power your home, you will see your monthly electrical bill get smaller – immediately! By installing a Solar Connection home solar electric system, you become your own power provider and lock in your electricity costs, reducing your exposure to rapidly accelerating utility costs, potentially saving a good sum of money over time. Your electric costs are one fixed initial investment of which rewards you and the planet will real for decades to come. Better yet, your savings actually increase over time as grid electricity rates rise. Average residential prices in the New England and Mid-Atlantic about 7% respectively. This means that because your electric costs are effectively locked in, your savings typically double every 12 years!
Current Incentives Greatly Reduce the Cost of Solar!
Federal tax credits for residential solar reduces your cost by 30%. Consumers who install solar energy systems (including solar water heating and solar electric systems), small wind systems, geothermal heat pumps, and residential fuel cell and microturbine systems can receive a 30% tax credit for systems placed in service before December 31, 2016; the previous tax credit cap no longer applies. more info... Solar Renewable Energy Credits(SREC) play a huge role in making solar economical. SREC's are tradable credits that represent all the clean energy benefits of electricity generated from a solar electric system. Each time your solar electric system generates 1000kWh (1MWh) of electricity, an SREC is issued which can then be sold or traded separately from the power. As a solar producing homeowner, you create an SREC each time your solar array produces one megawatt-hour (MWh). With an SREC valued at $200, a typical home owner would receive about $150 a month, or $54,000 dollars over the 30 year minumum life of the system. more info... Combining the federal tax credits with SREC's and the reduced or eliminated electric bill, solar makes dollars and sense--not to mention protects our priceless environment.

Current Incentives Greatly Reduce the Cost of Solar!