New England Breeze Solar
Local News
Residents and business-owners in Concord who are interested in solar energy have until April 30 to sign up for a community discount program offered by New England Breeze Solar...Read more.
Home Solar Panel Costs
Solar Investment
How would you like to lock in your electrical rate for the next 25 years? Thanks to the extraordinary rebates and tax credits available through the state and federal government, that is exactly what you can do. The Commonwealth Solar II rebate for Massachusetts homeowners can provide 8 to 16% of the total installed cost. Add to that a Federal tax credit of 30% and an additional $1,000 state tax credit and installing a solar electric system costs less than $4 per Watt! When you own your own solar power system, the system will pay for itself within the first 4-6 years. Even better - after that, you have free electricity for decades more. Make the investment today and enjoy a 20 year Return on Investment of more than 225%! Now that is putting the sun to work for you!
Contact New England Breeze Solar for a free solar estimate: 978-567-9463
How can my Solar Power System pay me back?
In addition to lowering your monthly electrical bill and the decreased environmental impact (priceless), you can sell 100% of your energy production (kilowatt-hours) to the utilty companies as Solar Renewable Energy Certificates (SRECs). This is 100% of what your system produces, not just in addition to what you use each day. Utility companies are paying more than two to three times what you pay for your electricity. Typical residential systems generate about $2,000 to $3,000 per year in additional income. Read on about - SRECs
The breakdown includes estimated system size and initial cost as well as financial analysis and cash flow analysis. For the most up-to-date estimate, please contact us - 978.567.9463
Learn about Solar Water Heating costs
|
Turn-Key Installed System Cost (includes rebate application, structural analysis, building and electrical permits, all equipment, installation, inspections, and utility connection) |
$26,000 |
| Commonwealth Solar II Rebate* | $2,000 - $4,250 |
| Out-of-Pocket Cost of Solar Panels | $20,750 - $23,000 |
| * Note: Commonwealth Solar pays the rebate directly to us (after your approval), reducing your out-of-pocket cost. | |
|
Federal Tax Credit: 30% of system cost (through 2016) |
$7,500 |
| Massachusetts State Tax Credit: 15% (up to $1000) | $1,000 |
|
Final Cost after Tax Benefits |
$12,250 - $14,500 |
| * Note: Here the federal tax credit is applied to the total system cost (before subtracting rebate). When done this way, the Comm. Solar rebate is likely taxable at your income tax rate. We are not tax professionals. Please verify this calculation with your tax professional. | |
| Your first year's electrical bill savings: | ~ $900 |
|
Your first year's SREC income (What are SRECs?) |
~ $3,000 |
| Your total SREC Income | ~ $20,075 |
|
Years to recoup initial investment at today's electricity rates |
4.1 - 4.6 |
| Assumptions: Electricity starts at $0.15 per kWh and inflates at 5% per year. SRECs start at $0.50 per kWh and deflate at 10% per year. | |
| After Five Years | $4,600 |
| After 10 Years | $10,600 |
| After 20 Years | $27,900 |
Click the link to the right for a detailed estimate for a solar electric or solar water heating system. |
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