My net cost will be around $1500
The total purchase price of the kit was around $3000 ($3500 as of October 2007). However my net cost will be around $1500 after the Maine state refund and federal tax break.
After placing the order for the solar kit in early July, I filed an application with the Maine State Energy Program for the 25% refund that they offer on small scale solar installations. The refund incentive was just voted in to law in 2006 and it has encouraged many people to “take the plunge”! I received my 25% refund check on October 10th 2006. This system is SRCC certified and is eligible for the 30% solar federal tax credit too.
View of before and after showing the
collectors and PVpanel mounted to the
south wall of my home.
I used RetScreen software to calculate my Return on Investment, which works out at 4.6 years based on the design and site of my specific installation. Click the graph below to see a detailed report. Allowing for inflation and increasing propane prices it shows that after 25 years I will have saved over $11,000 in offset heating costs! Pretty impressive.
OK, so now we know that the energy rebate program works. However, unlike some people I know, we can actually save a little more money then was is stated above. With the new for me knowledge I gained by getting and reading the build your own solar panel kit that is available, I can now make my own home solar power systems including the solar panels for home and save the cost of having to buy retail a completed solar panel. It’s fun and easier than you think and really doesn’t take up all that much time. I built one panel in a weekend following the video and instructions that came with the kit. This kit showed me wherew to find the best components at the cheapest prices, how to assemble them and hook them up to my power grid.
So if your interested in this project or any other that could use home solar panels, then check out the web site on the highlighted link. You will also find a lot of other valuable information and reading materials on sustainable energy, green construction and other exciting progects.
Tomorrow part 3 on this series.