Current Federal and Arizona incentives can pay for 60% to 90% of a solar PV system cost. Payback through electric energy savings on a solar PV system can be 2 to 7 years.
Every different type of solar cell and panel will have a different value for energy production. Adjusted for your climate, that value can vary by 50% from another panel. Please understand that PV panel efficiencies ranged from 2.5% to 20.5% as of October 2009.
Fact: It usually takes about the same amount of time for a PV system to pay for itself, even if it is twice the size in rated DC watts and energy production. Your budget will drive the size of the system.
Fact: Financing a system may be a good option for residential commercial and industrial applications. Home improvement loans may be the most cost effective. However, it will extend the amount of time it will take to pay for the system.
Your home size, utility use and climate will dictate how a specific system size will impact your utility bill. Usually customers target at least 50% of their utility bill. They usually want to see at least a few months where their PV system provides all of their energy. They want proof on their bill that their solar system really works.
Fact: You will want and need a financial analysis of a system or systems. You are best served by considering using 12 months of your utility bills to understand the real costs and the impact of buying one system over the other.
Most companies either do not have a reliable analysis, have unrealistic values in their analysis or copy someone else’s without understanding the details.
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Dr. John Balfour writes about the most important things that you need to know before purchasing a solar system.
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