As some of you may remember, Mr. Nom and I were seriously considering solar a few months ago. Well, we went for it. It took about a week for all of the panels and electrical work to be completed (including several afternoons that were lost thanks to heavy rains). The inspector signed off on it about a week after that.
Our first electric bill under the new system arrived a couple weeks ago and was a whopping $6.38 (normally ~$150).
Of course, the trade-off is the home equity line of credit (HELOC) that we borrowed against. Whatever we’re saving just goes towards paying that down, anyway. Current projections are to break even in about six years (the system has a 25 year warranty).
My favorite part is the app* on my phone where I can see, real time, how many KWh we’re generating. There’s a graph feature and everything. Which is importent for a nerd like me.
- Finalizing the paperwork with the broker for our solar credits (federal program pays alternate energy generators for each MWh they generate, from your big power companies, right down to individuals);
- We should have our MD grant soon ($1k);
- Come tax time, we’ll get 30% of our sticker price back from the feds, too. That will go right back towards the HELOC balance.
I know solar isn’t a logistic or financial option for everyone, but for those considering (and thee were a few on my previous post), I hope this is helpful.
* I love the app reviews that want to see the historical data, down to the hour. Damn, I’m not even that obsessive.