Solar Photovoltaic (PV) and the Home
In working with builders of various kinds through the years, PTC Computer Solutions has often been asked whether Solar Photovoltaic on the roof make sense.
- Is it economical?
- Will it cost less than it produces?
- Is it easy to install?
- Can you wrap the costs into the mortgage?
- Will it generate more than electricity?
- Will it generate real benefit to the homeowner?
The answer to all of these questions is YES!!! A resounding YES!!! Solar Photovoltaic for the home makes more than electricity…it makes CENTS!!! And, in most cases lots of them.
Solar PV Economics
There are two ways to look at Solar PV for the home: “green” benefits and economic benefits. Both are wonderful things and make you feel better.
The “green” benefits are constantly being discussed as to whether Solar PV actually helps the environment. Well, it does. We are working with a builder now who can show verifiable proof that they are saving trees and carbon emissions as well. There’s no question that through the life cycle of the solar panels, they are generating “green” benefits.
They are also generating some serious GREEN, if you know what I mean. Over the lifespan of a solar panel array, our homeowners can save an average of $75,000 off their electric bill. That’s based on a lot of factors, but there is no question that it can generate money for the homeowner. Having Solar PV on the roof versus not having it is definitely going to save money.
Net Metering Vs. Storing
There are traditionally two ways to look at Solar Photovoltaic for generating home power. Net Metering and Storing through a variety of batter storage means. Tesla recently release their Powerwall II and there is a good article on this from our friends at Understand Solar you can read here about the benefits of the Powerwall II. But, storing power can be a tricky business, so it may not be the best approach and often isn’t. There are some questions that need to be answered before you go down that route: namely, do you need to store power. It can get costly and the lifespan of a storage system is still limited.
Net Metering, in most cases is a better approach. What is Net Metering? I’m glad you asked. Simply put, there are two meters added to the home, one for power going out and one for power coming in. Net Metering is the difference between the two. More being generated than using means you make money. Voila! It makes CENTS! Read more about Net Metering from one of our favorite Northeast Florida Jacksonville builders, TerraWise Homes, here. They know what they’re talking about and can back it up.
How do you make money off of Solar Photovoltaic? It’s simply the difference in the cost of electricity versus the cost of the system. Between the government rebates which have recently been extended on new installations of Solar Photovoltaic systems and the real costs of electricity, it makes more sense to put in a Solar PV system than not on a new home. It makes CENTS too!
If a Solar PV system costs $20,000 (which it probably won’t with the rebates and the continuing decline in the costs of solar as well as solar efficiencies being ever improved) and the cost of a new home is $200,000, then the cost of the total home is $220,000. The difference in a mortgage of $200,000 and $220,000 is about $100. The cost of an average payment to the electric company in Florida is $123 per month. The savings per month in this scenario is $23 per month which is either subtracted from your other services (if it’s the same utility) or refunded to you in the form of a check. And, this is a conservative estimate. In many cases, it’s a larger return than that. It’s a NO BRAINER!!!
Go Solar, Go Green, Get Green
You help the environment AND make money. How does that not make sense? Ok, I’ll say it again, how does that not make CENTS? Sorry, but it’s time for solar. DO IT!
If you need to know more about Solar and how it can help you as a builder, or as a homeowner, give PTC Computer Solutions a call. We are always here to unscramble the mixed up world of business technology and the online marketing world around us.
Contact PTC for all your computer needs from online marketing to IT Professional help, we’re here to bring understanding to you.
David WB Parker
PTC Computer Solutions