The Federal Government has extended the 30% Investment Tax Credit and starting in 2009, homes will not be capped at $2,000. That means a $20,000 solar system, and this is on top of the California State rebate, will be eligible for a $6,000 Federal Tax Credit!
Previously, only businesses could take advantage of a full 30% Federal ITC without the $2,000 cap that residences were subject to. So, if the California State rebate amounts to close to 20%, and the 30% Federal ITC is added onto that, that's close to a 50% solar system rebate for any California home that has good sun exposure! That $20,000 solar system now costs closer to $10,000!!
Suddenly the return on investment is years less than it used to be, ie; twelve years becomes closer to eight years. That's a big difference! If you were to get a home equity loan for a solar system, the monthly payments would be significantly less.
Thomas Edison once said, "I'd put my money on the sun and solar energy. What a source of power! I hope we don't have to wait until oil and coal run out before we tackle that."
Monday, November 3, 2008
Thursday, October 2, 2008
First Year of Solar!
We just received our PG&E bill showing how much we owe for our one year "true-up" period. The previous year, we paid $2664 for our electric power, or $222 per month. Our first year with solar shows a total electric consumption bill of $186! That's just $15.50 per month! There is an $8.00 monthly connection/net metering/Climate Smart(the latter is optional) fee, but that's still just $23.50 per month. Oh yeah, and I hear there is an environmental reason to go solar as well.
PG&E just raised rates for the higher electric power tiers(those families paying over $150 per month) by 6% today. That means Solar power just got less expensive than yesterday.
I am happy to say that our Solar power system has delivered everything we had hoped for. Everything our Solar power installer promised was true, and now with Solar lease plans, there is no reason why every family shouldn't go Solar! Our only regret is not doing it years ago!
PG&E just raised rates for the higher electric power tiers(those families paying over $150 per month) by 6% today. That means Solar power just got less expensive than yesterday.
I am happy to say that our Solar power system has delivered everything we had hoped for. Everything our Solar power installer promised was true, and now with Solar lease plans, there is no reason why every family shouldn't go Solar! Our only regret is not doing it years ago!
Friday, July 25, 2008
Electric Rates to Go Up 15%!
I knew PG&E was planning to raise our electric rates by 5% in October, but now it turns out that is just part one. Part two is another 10% increase in January! That is a significant increase by any standard, but an unfortunate byproduct of the dependence upon natural gas and oil to generate electricity for those without clean solar power.
A 15% rise in electric rates translates to $20 or more for many families per month. Conversely, a family with solar power will be nowhere near as affected by utility company rate increases because of their decision to own rather than rent the majority of their power needs.
As electric rates climb, solar power becomes more and more practical and provides a higher, faster, return on investment. Families who currently use enough electricity to qualify for the higher rate tiers-pretty much anybody paying $150 or more per month-are actually paying more per kilowatt hour for a good percentage of their power than if they had invested in solar power. These higher rate tiers will continue to increase while solar system owners will have locked in their electric power costs for decades to come. For my wife and I, it's good to know there's one monthly expense we have some control over longterm.
A 15% rise in electric rates translates to $20 or more for many families per month. Conversely, a family with solar power will be nowhere near as affected by utility company rate increases because of their decision to own rather than rent the majority of their power needs.
As electric rates climb, solar power becomes more and more practical and provides a higher, faster, return on investment. Families who currently use enough electricity to qualify for the higher rate tiers-pretty much anybody paying $150 or more per month-are actually paying more per kilowatt hour for a good percentage of their power than if they had invested in solar power. These higher rate tiers will continue to increase while solar system owners will have locked in their electric power costs for decades to come. For my wife and I, it's good to know there's one monthly expense we have some control over longterm.
Thursday, July 3, 2008
Living With Solar--PG&E Owes Me Money
It's been a couple of months since I last blogged. Summer is here and so are peak time power rates. This means that PG&E pays three times as much for the power generated on our roof. May's electric bill was -$33.00, June, -$44.00! Yes, that's minus 33 and 44 dollars and this will continue throughout the summer!
We had estimated that at the end of our first year "true up" period with PG&E, we would owe about $600.00, based upon using 1000Kwh per month. However, after changing to CFL bulbs and being more aware of conserving electricity due to going solar, we have reduced our power consumption to 700Kwh hours per month. Bottom line is we expect to pay around $200 or less to PG&E for the whole year's electric bill! $200 is a whole lot better than the $2664.00 we used to pay annually to rent our electricity instead of own it. Multiply that savings over 30 or more years that our solar system will be generating clean power, even if utility rates stayed the same, and this adds up to serious savings!
Natural gas prices have climbed from $1.10 to $1.61 per therm from January to June, this is where most people's electricity comes from, so PG&E will be raising electric rates in October. We've already seen natural gas bills rise, just like gasoline keeps doing almost daily.
Electric rate hikes will have very little impact on our bill for the next 30+ years. When we buy our first electric car in a couple of years, charged by our solar system, we won't have to worry about ridiculous gas prices as much either. (Our solar system already recharges our Duffy electric boat.)
Meanwhile, in my neighborhood, besides one neighbor who went solar during our community program, I keep seeing people put in expensive paver driveways, new grass, fancy front doors and copper rain gutters, all of which look great, but these are often the same folks whose first question about solar power is, "what is the ROI?" I think I can safely say a lot better than that new driveway!
We had estimated that at the end of our first year "true up" period with PG&E, we would owe about $600.00, based upon using 1000Kwh per month. However, after changing to CFL bulbs and being more aware of conserving electricity due to going solar, we have reduced our power consumption to 700Kwh hours per month. Bottom line is we expect to pay around $200 or less to PG&E for the whole year's electric bill! $200 is a whole lot better than the $2664.00 we used to pay annually to rent our electricity instead of own it. Multiply that savings over 30 or more years that our solar system will be generating clean power, even if utility rates stayed the same, and this adds up to serious savings!
Natural gas prices have climbed from $1.10 to $1.61 per therm from January to June, this is where most people's electricity comes from, so PG&E will be raising electric rates in October. We've already seen natural gas bills rise, just like gasoline keeps doing almost daily.
Electric rate hikes will have very little impact on our bill for the next 30+ years. When we buy our first electric car in a couple of years, charged by our solar system, we won't have to worry about ridiculous gas prices as much either. (Our solar system already recharges our Duffy electric boat.)
Meanwhile, in my neighborhood, besides one neighbor who went solar during our community program, I keep seeing people put in expensive paver driveways, new grass, fancy front doors and copper rain gutters, all of which look great, but these are often the same folks whose first question about solar power is, "what is the ROI?" I think I can safely say a lot better than that new driveway!
Tuesday, April 15, 2008
Solar For Free!!
SolarCity, our solar community program partner, has just announced a No Money Down lease program right on the heals of their new lease program that required a $2000 down payment. Now there is no upfront cost and the lease payment could be covered by the savings on your electricity from the clean solar power generated on your roof.
So, let's review, no money down, your lease payment is covered by your electric bill savings from day one. All maintenance is covered. Oh yeah, there are still two weeks left in the Foster City Solar Community Program to get in on the community discount. The only question left is, why wouldn't you go solar? By the way, my March electric bill was only $25--a long way down from the $222 I used to pay before going solar!
Click here for a San Jose Mercury News story about the no money down lease program.
So, let's review, no money down, your lease payment is covered by your electric bill savings from day one. All maintenance is covered. Oh yeah, there are still two weeks left in the Foster City Solar Community Program to get in on the community discount. The only question left is, why wouldn't you go solar? By the way, my March electric bill was only $25--a long way down from the $222 I used to pay before going solar!
Click here for a San Jose Mercury News story about the no money down lease program.
Tuesday, April 1, 2008
Big News! Community Program Extended Due to New Lease Program!! Now Everybody Can Afford to Go Solar!!!
The Foster City Solar Community Program has been extended until April 30, due to a new solar lease program being announced today by SolarCity! The lease program offers Foster City residents the opportunity to go solar without the high up front costs of purchasing the equipment.
Now it is possible to go solar for a small down payment of $2000 and low monthly lease payment with the option to buy the equipment at the end of the lease, transfer it to the new owners of your home if you were to move, or just give back the equipment at the end of the lease.
The savings on your PG&E electric bill could pay for the lease payment, making your solar system cash flow neutral. Any maintenance is covered for the duration of the lease.
Please click on this link, SolarCity Lease Program, for more details.
Going solar in the month of April means taking advantage of the community program discount and being able to lease your solar system--energy independence is easier than ever before!
Now it is possible to go solar for a small down payment of $2000 and low monthly lease payment with the option to buy the equipment at the end of the lease, transfer it to the new owners of your home if you were to move, or just give back the equipment at the end of the lease.
The savings on your PG&E electric bill could pay for the lease payment, making your solar system cash flow neutral. Any maintenance is covered for the duration of the lease.
Please click on this link, SolarCity Lease Program, for more details.
Going solar in the month of April means taking advantage of the community program discount and being able to lease your solar system--energy independence is easier than ever before!
Saturday, March 22, 2008
Only 10 Days Left, 5 Families Going Solar!
We're in the last days of the Foster City Solar Community Program, after March 31st it will cost more to go solar. I'm happy to say that 5 families have signed up to make a difference towards energy sustainability--that's more than half of all the people who went solar in Foster City in all of last year!
If you've been thinking about owning your electric power instead of renting it your whole life, if you want to do something that helps our future starting today, if you want to help protect yourself from rising energy costs, be ready when plug-in hybrids and all-electric cars arrive, and enhance the value of your home, this is the time to Go Solar!
Solar power is the only major home improvement item that makes money every day, it helps give you control of your own energy self-sufficiency and it just plain makes you feel good! Be part of the solution, Go Solar!!
If you've been thinking about owning your electric power instead of renting it your whole life, if you want to do something that helps our future starting today, if you want to help protect yourself from rising energy costs, be ready when plug-in hybrids and all-electric cars arrive, and enhance the value of your home, this is the time to Go Solar!
Solar power is the only major home improvement item that makes money every day, it helps give you control of your own energy self-sufficiency and it just plain makes you feel good! Be part of the solution, Go Solar!!
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