Quick Facts
Average Annual Savings
$2,604
Net Investment
$15,265
Return on Investment
17.1%
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It will pay for itself
Quick Facts
Average Annual Savings
$2,604
Net Investment
$15,265
Return on Investment
17.1%
Property
- Owner:
- MP
- Type:
- Residential
- Address:
- Torrance, CA 90501
- Size:
- 1,720 sq ft
Technology
- Type:
- Solar PV
- Installed:
- October 2017
- Size of System:
- 7.2 kW
- Monitor performance:
- https://monitoringpublic.solaredge.com/solaredge-web/p/site/public?name=Torrance PV#/dashboard
- Purposes:
- To generate electricity
Financial Details
- Gross Cost of System:
- $21,808
- Value of Tax Credits:
- $6,542
- Net Cost of System:
- $15,265
- Annual Savings:
- $2,604
- Own or Lease:
- Cash Purchase
- Additional Financial Notes:
- Upgraded main service panel to 200 amp at an additional $2000. Used deferred comp 5 year loan from work to pay for the system. Normal electricity bill is around $200 a month on an all electric house with one plug in hybrid car. The panels should pay for themselves in 5 to 6 years.
Professionals & Suppliers
- Installers:
What You Need to Know
My Motivation:
If the system pays for itself in 5 to 6 years then it seems like a no-brainer.
Additional Notes:
I had a new roof installed 6 months earlier. The roofer at the time said if I was going to go solar I should do it at the same time. At the time I didn't think I could afford a new roof *and* solar. I was going by 2 year old estimates for the cost of solar. It wasn't until I found EnergySage last month that I realized I could afford it and prices had come down quite a bit since my original estimate in 2015.
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