As you can see, the purchase option leads to the highest dollar-amount returns over time, but look a little closer.
The final bit of savings comes from the Massachusetts srec program (discussed below ).
Your payments over 15 years will actually be less than the savings and income your system will generate, and it'll mean that you're never putting any of your own money into the purchase.
The best thing about solar in Massachusetts might be the state's srec market, which can make solar homeowners thousands of dollars over their systems' lifetimes.With the current Xcel rebates in place, insulating your home is the smartest place to invest your money.Thanks kmart coupon code 2015 to recent improvements in insulation and compressors, today's refrigerators use much less energy than older models.As the electric company raises rates, you save more and more, and more.Keep in mind, the numbers above are based on an average home in Massachusetts.Your home's value just increased by more than 27,000, too (your expected annual electricity savings over 20 years)!It just means a tiny bit less of the thousands of dollars you'll make with solar.After the tax credit we subtract your first years energy savings, which we estimate to be 1,170.
Read about loans above.
A solar purchase like this will make sense for you if the following is true about you and your current situation: You can qualify for a solar loan or home-equity line of credit (heloc) for 18,750, with a fixed rate of 4 or lower and.
If you take a heloc, you'll pay the system cost down monthly, but you still get a huge tax credit after the first year, and srec sales for the first 10 years, too.
Solar Loans in Massachusetts You don't need 19,000 sitting around to pay for solar.
Heres how the numbers pencil out when you pay up front for a 5-kW rooftop solar system: Installing a typical 5kW solar system should start at about 18,750.
97 trees-worth, every year!
That means if the Michigan legislature were to raise RPS standards now, wed barely miss a beat in maintaining a strong level of renewable energy requirements.The internal rate of return for this investment is a solid.5.It's like planting 91 trees a year, every year your solar power system is humming.If you have equity in your home or good enough credit to qualify for a solar loan with an interest rate of 4 or less, that's the option to go with.A solar purchase like this will make sense for you if the following is true about you and your current situation: You can qualify for a solar loan or home-equity line of credit (heloc) for 20,000, with a fixed rate of 4 or lower and.Read more about solar loans below.Find out Massachusetts Solar Policy Information Ever wonder why solar seems to be everywhere in some states, but not in others?The chart above shows the 25-year returns for an investment in solar whether you choose to purchase a system with cash or pay over time with a loan or lease.We send notices before disconnecting gas service, and send disconnection notices.S.