Friday, June 7, 2013

Working our way to payback

Well, it's been a while since I've posted in this thread....for the most part because things have been uneventful.  The system continues to work extremely well and it's making 100% of our hot water between mid March and mid October.  In the winter, it needs very little electric backup to hit the 120 degrees we have set as our temp.  To date we've received three SREC payments from SOLSYSTEMS since we contracted with them last year.  Between the electricity offset and SRECs, this system should fully pay back in 6 years.



Total Cost Total Payback
Initial Cost  $9,386.00  $9,386.00  $    -  
State Solar Grant  $1,500.00  $7,886.00  $1,500.00
Federal Tax Rebate  $2,815.80  $5,070.20  $4,315.80
2011 Offset  $332.32  $4,737.88  $4,648.12
SREC Payment Aug 2012  $180.00  $4,557.88  $4,828.12
SREC Payment Dec 2012  $180.00  $4,377.88  $5,008.12
2012 Offset  $335.47  $4,042.41  $5,343.59
SREC Payment June 2013  $180.00  $3,862.41  $5,523.59