Sunlight solar green needham presentation sep 2010
1. Solar Energy:
How to Produce Your Own Electricity
Overview – Chris Robinson
How solar works
Advantages of solar
Financial Incentives
How do you get solar?
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4. Why Solar – Environmental Reasons
Reduce your impact on the environment
– Control your carbon offset
– Increase your community’s awareness of energy independence
Over 30 years, the benefits of a 5kW system are
equivalent to:
– Planting 30 acres of trees OR not driving 237,000 miles!
– Removing 190,000 lbs CO2 (greenhouse gas) from the
atmosphere!
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5. Other ways to reduce energy use
Power Stripping
– Phantom Loads= 10-15% of your energy bill.
Power strips in each room of your home. Turn off when leaving.
Important rooms – kitchen, home office or entertainment room.
Passive Solar Advantage
– Open blinds during the day to let in sunlight during colder months
help heat your home. Keep blinds closed during warmer months to
reduce your AC use
Get a free energy audit – Masssave.com
– Switch light bulbs, seal up your attic, blow test door. Learn how your
home might be losing energy. 866-527-7283
Install a Solar Dryer-
– Use a cloth line to dry clothing and reduce your dryer use
Solar Thermal Hot Water
– Offset demand on gas, oil, or electric
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6. Why Solar- Economic Reasons
• Take Control of Your Electric costs:
-Reduce or eliminate your electric bills by $700 to $1,200 per year.
MA amongst the highest in the nation.
-Protect yourself from rising utility rates.
• Adds Value to Your Home:
Based on a study funded by the US Department of Housing and Urban
Development, along with the Environmental Protection Agency
Solar can add $20,000 in home value for every $1,000 of yearly energy
cost savings.
Will not increase property tax
Your solar system will generate $1,100 to $1,800 of additional annual
income through the Renewable Energy Credit Program.
Disclaimer: Homebuyers should consult with their tax consultant, referencing the
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Federal Energy Policy Act of 2005, Section 1335. Tax laws are subject to change.
7. Investment, Incentives Detail
Commonwealth Solar Rebate
– $Dollar-for-dollar subtracted off the up front cost
– $1.10-$2.10 off per watt
– Maximum rebate available $10,500
– $1,000,000 of available funding for residential customers
Federal Tax Credit
– 30% Federal Tax Credit Return of your net cost, no cap
MA State Tax Credit
– 15% State Tax Credit of your net cost, $1,000 maximum
Solar Renewable Energy Credits (S-REC’s)
$285 per Megawatt Hour produced (mWh)
The State of Massachusetts allows solar installation to be exempt from property taxes. This incentive only applies to the
added value to a property. M.G.L. ch. 59 § 5 (45, 45A)
Disclaimer: Homebuyers should consult with their tax consultant, referencing the
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Federal Energy Policy Act of 2005, Section 1335. Tax laws are subject to change.
8. Solar Renewable Energy Credits:
Separate from the electricity used to power your home
Credits are accumulated via monitoring system connected
to your inverter
Credits are sold online to companies who need to buy
them or pay fines of twice the value
– Floor price of credit is $285
– Alternative Compliance Payment (fine) is $600
Credits are auctioned off at up to 95% of the fine ($570).
The whole process is done online through an aggregator
who will manage the customer’s account.
Customer is paid every quarter.
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10. Cost of a 3.2 kW system after incentives
System: 14 panel each producing 230 watts = 3.2 kW
Initial cost: $26,086
Massachusetts rebate - $6,762
“Out-of-Pocket” cost $19,324
State and Fed tax credits - $6,797
Final cost of system $12,527
Annual savings on bill $779
Annual S-REC income (minimum) $1,109
System pays for itself in 6 years
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11. Investment, Sunpower Financing Options
Same As Cash- Sunpower
First Twelve Months- No Money Down, No Payments
- Take advantage of Federal & State Tax credits,
MRET Solar rebate, S-RECs & utilize energy produced by your array
If repaid within twelve month period- No Fees & No Interest
Wainwright Bank – Green Loan
- 24 hours approval, No application fee
- Reduced interest rates for solar installations & Wainwright customers
MRET Solar rebate, S-RECs & utilize energy produced by your array
Disclaimer: Homebuyers should consult with their tax consultant, referencing the
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Federal Energy Policy Act of 2005, Section 1335. Tax laws are subject to change.
13. Maynard, MA - Sunframe Array
King, (27) Sunpower 225 watt panels, 6.075 kW system
Previous Home use
9,135 kWh
Solar Contribution
7,473 kWh
Annual power provided
82%
Estimated annual electric
savings $1,495
SREC Income
Per year $2,109
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14. Low Use, City Home
Mercer Hennen, (10) Sunpower 210 watt panels, 2.1 kW system
Overall Investment
$16,800
State Rebate:
$4,410
Tax Credits:
$3,640
Total Investment
After incentives
$8,750
Annual Electric
Savings
$612
Annual SREC income
$855
15. Solar Hot Water and PV
Knudson, (2) Schuco Hot Water Collectors
Overall Investment
$8,500
State Tax Credit:
$1,000
Federal Tax Credits:
$2,550
Total Investment
After incentives
$4,950
16. Maynard, MA – Evergreen Array
Kucich, (14) Evergreen 210 watt panels, 2.94 kW system
17. Solar Wedge Tilt Mount– Sunpower Array
Kaznay, (27) SPR 215 watt panels, 5.8 kW system