Solar PV - Cambridge, MA

Multi-Family Residence - January 2012

For more on this project, see the blog on EnergySage titled "Solar Grail" parts 1 + 2 (http://www.energysage.com/blog/search-solar-grail)

Quick Facts

Average Annual Savings

$600

Energy Needs Met

100%

or more of electricity

Net Investment

$7,700

Return on Investment

22.7%

Property

Owner:: Eric Grunebaum
Type:: Multi-Family Residence
Address:: Cambridge, MA 02140
Size:: 1,700 sq ft
Energy need met:: 100% or more of electricity

Technology

Type:: Solar PV
Installed:: January 2012
Size of System:: 3.2 kW
Purposes:: To generate electricity

Financial Details

Gross Cost of System:: $7,700
Net Cost of System:: $7,700
Annual Savings:: $600
Annual Revenue:: $1,150
Own or Lease:: Prepaid Lease

Professionals & Suppliers

Products:: SunPower
Installers:: Independent Power
Financing:: SunPower

What You Need to Know

Other Benefits:

Besides earning a financial return of 22-35% for the first 10 years, it will also reduce pollution and CO2 emissions and dependence on fossil fuels.

Maintenance Requirements:

Since we're doing a pre-paid lease there shouldn't be any maintenance requirements for the first 20 years.

My Motivation:

We were motivated by cutting back on fossil fuel use and pollution emissions, but it turns out that the financial rewards are equally worthwhile.

Advice:

Do it soon because the tax credits, rebates and SRECs may not be around for very long and I don't think the price for installation of PV will decline much more than it already has. Instead of waiting, you'll be earning 22-35% annual returns on your investment. Make sure the installer you select gives you the SRECs. That's where the real money is.

Experience with Installer:

Independent Power Systems is great. They took the time to measure the roof and check the structure before they bid on the job. Then the installation went very smoothly. Please tell them I sent you.

Additional Notes:

Our condo is half of a 2-family so our neighbors and we installed identical systems at the same time which helped bring the price down.

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