The Cost of Solar
Alternative Energy September 24th, 2008Being in Phoenix, Arizona, I have always been a proponent of solar energy. I have always been amazed at the lack of leadership that the state government has in regards to solar. Arizona should be the solar capital of the world. Our governor has said this on many occasions but the legislators do nothing. The cost for solar is exhorbinant and without a lot of money, or a loan, most people cannot afford solar, or do not want to see it pay for itself in the number of years that it would take. But what is the true cost of solar in Arizona?
Salt River Project (SRP), provides my power, has a calculator. If I purchased a system that $28,000, SRP would give me $12,000 upon completion of the interconnection. The Federal government would give me $2,000 in federal tax credit, and the Arizona government would give me a $1,000 tax credit. My estimated final cost would be $13,000. How much money would I save each year? $576 in annual electrical savings, which means that in 23 years, the system would pay for itself. This doesn’t include the price of fixing anything that broke, or, degradation of the solar cells over time. Twenty-three years my system will have paid for itself. Worth it? If I had the money to spare, then probably. But I don’t so it isn’t worth it. There has to be a better way, and there is. But, that will be the subject of another blog.
Mark Viquesney
October 3rd, 2008 at 3:35 pm
[…] In the Cost of Solar, I mentioned how expensive it was to buy solar panels and the long term return of investment. There had to be a better way, and there is. Buying a solar system costs a lot. The better way is that my family will be leasing solar panels from Solarcity. […]