A rough estimate for New system costs is about $6.00 a watt gross (before incentives) After all the incentives, the cost can go below $3./watt.
PGE rebates are now $1.55 a watt.
There is a 30% tax credit for 30% of the total system cost.
Commercial applications can enjoy a 5 year system depreciation schedule.
Example: A 3000 watt system at $6. is $18,000.
$1.55 a watt (net after adjustments) is $3800
30% of system cost is 5400.
Net cost is $8800.
Yearly power generation from this system would be about 6000kw. AT 20 cents/kw one might expect to save about $1200. The savings may actually be higher than this, as the solar power may keep the homeowner out of the higher tier rates. Savings would also be HIGHER as PGE rates go up. Initial investment would be recouped in just over 7 years, based simply on the 20cents /kw.
Financing: If 100% of the money was borrowed at current mortgage rates of 6%, and a 20 year amortization, the monthly payment would be $76./mo or $912 a year. The homeowner will see a positive cash flow right away, and as the PGE rated increase, the savings will also grow.
At EcoAdvantage Power, we can float the rebate of $1.55/watt till the system is complete and rebates are issued. We also have available up to $45,000 same as cash available for upgrades as well as solar installations.
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