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Sunlight solar green needham presentation sep 2010

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Presentation by Sunlight Solar at Green Needham meeting September 20, 2010

Presentation by Sunlight Solar at Green Needham meeting September 20, 2010


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  • 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? 1
  • 2. What makes solar work?
  • 3. How solar hot water works 3
  • 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! 4
  • 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 5
  • 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 6 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 7 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. 8
  • 9. Wareham, MA - Flush Mounted Array Robinson, Sunpower 230 watt panels
  • 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 1
  • 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 11 Federal Energy Policy Act of 2005, Section 1335. Tax laws are subject to change.
  • 12. Aesthetically Pleasing Array Yarmoff, (48) Sunpower 205 watt panels, 9.8 kW system 1
  • 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 1
  • 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
  • 18. Ground Mount Romer, (24) Sunpower 210 watt panels, 5.04kW system
  • 19. Pole Mount & Dual Axis Tracker Ladd, (12) Sunpower 225 watt panels, 2.7kW system
  • 20. Q&A 20