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  • SunPower System Installed Today (Pic)

    First off thanks for the tips and advice I got here a couple of months back. It really is difficult to find good, unbiased information about the solar panel process and this site was invaluable. I am just South of Boston and we have the SREC program up here so its a massive incentive as the system will actually be saving me around $50 a month right off the bat.

    First the rough, projected numbers.

    5kw system with 20 250AC SunPower panels with Microinverters. 25 year warranty on labor and all parts. <<-- mattered alot to me.
    Also the aesthetics are just awesome. Invisimount System is used.

    $24,000 or $4.80 a watt. There was no better price from over a dozen installers I called in New England.

    SRECs are currently going for around $280/kw. Using PVWATTS on my home it expects about 6,300kw per year. So roughly $1,680 with a slight decline each year for 10 years.

    After federal and state rebates cost of system was $15,800. (24,000 - 30% - $1000 MA rebate)

    I put down $1000 at start of process and will put down another $2,400 at completion. Took out a 10 year Second Mortgage at a fixed rate of 3.75% from Berkshire Bank in MA. I am a teacher so I got a .5 rate discount. Mortgage payments for the $20,600 loan are $208/month for 10 years.

    So to figure out my monthly difference you can look at it this way. The past year I have been paying $110 a month for electricity.

    Now I will be paying $0 for electricity, and $208 for a loan. However I will be getting an average $140/month in SREC Revenue, making my monthly expenditures for electric production now a net of $68 dollars per month. With a 25 year bumper to bumper warranty.

    Additionally I will be paying this system off with additional monthly payments in about 7 years, so for the last 3 years the SREC revenue will be pure profit. Man, I feel bad for people who think they are getting a good deal when they lease.

    Anyways again, thanks guys! I hope this picture attach thing works.

    sp install small.jpg

  • #2
    Congrats!

    (In California, they would have made you leave three feet of space at the top of the roof...)

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    • #3
      Just wait until the electric company raises it's rates and you won't care! Actually, it will offset your investment even quicker than you are currently planning for. Then you can really have fun when the rate increases are discussed around the office or friends. Sweet!

      Photo looks great too.

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      • #4
        Originally posted by DanKegel View Post
        Congrats!

        (In California, they would have made you leave three feet of space at the top of the roof...)
        Fortunately a larger number of CA jurisdictions will let you apply for a variance from the local FD on the ridge line clearance. And most of them will grant it as long as the[I] other[/I] face of the roof covers (and therefore can ventilate) the same open attic space and that side of the ridge is unobstructed.
        SunnyBoy 3000 US, 18 BP Solar 175B panels.

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        • #5
          Spacing

          I do have a vent on the peak of the roof but I think there is still a little bit of space up there. If in 5 years we get an electric car I wanted to at least have the option of adding another row at the bottom and maybe three more along the left side. Figure that should generate another 3kw which is roughly what we'd need for the ev. Just didn't want to go all in with the over sized system now with those questions up in the air down the road. Plus I dont make enough money to even collect the whole federal rebate in one year so I have to spread it over 2 anyways.

          One more pic. solar 2.jpg

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          • #6
            Originally posted by Tommygun45 View Post
            Plus I dont make enough money to even collect the whole federal rebate in one year so I have to spread it over 2 anyways.
            Let's keep the terminology correct. What you get locally is often a [I]rebate[/I]. An immediate cash payment.
            What the Feds give you is a [I]tax credit[/I] which cannot be used to decrease your total tax below zero and so may have to be spread over several years.
            SunnyBoy 3000 US, 18 BP Solar 175B panels.

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            • #7
              Congratulations!

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              • #8
                Looks awesome. Congrats.

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                • #9
                  congrats!

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