| Author |
Message |
    
melicious
Citizen
Username: Melicious
Post Number: 54
Registered: 6-2002
| | Posted on Monday, March 8, 2004 - 7:43 pm: |     |
Do I understand the PSEG site correctly when it
describes the savings for solar panels as being
$2 a month?
Has anyone installed solar panels? What are the costs associated with installing and running them? Do they supply all the electricity for your home or do you still have to pay PSEG
for something?
Thanks! |
clkelley
Citizen
Username: Clkelley
Post Number: 167
Registered: 6-2002
| | Posted on Monday, March 8, 2004 - 9:06 pm: | |
I did a search for "solar panel" at the PSE&G site and found some case studies of people who dramatically reduced their bills - one guy only pays 50 cents a month (although even before the solar install, he had his bill down to $20 a month). Another guy reduced consumption by 25% (he paid $9K for installation - PSE&G says he'll start showing a positive return on investment after 10 years).
Where did you see the $2 figure? I'm really curious about this stuff. |
tourne
Citizen
Username: Tourne
Post Number: 319
Registered: 1-2003
| | Posted on Monday, March 8, 2004 - 10:15 pm: | |
Solar electric system costs depend on how large a system you need or want, which depends on how much electricity you now use. A very general total installed cost for a solar electric system averages about $8.50 per watt of modules on your roof. The State gives you back $5.50 per watt up to 70% of the total installed cost. For example, if you need or want 3800 watts of solar modules(which might produce about 5000 kilowatt hours per year), then the cost would be $32,300 and the State would give you back $20,900 and the actual cost to you would be $11,400. Look on your bill to see how many kilowatt hours per year you currently use to get an idea how large a system you would need to zero out your bill. Of course, the less electricity you use, the smaller the solar electric system you will need. As far as payback goes, keep in mind that electric rates are going to be rising every year. Go to www.njcep.com and www.solarenergetics.com for more info. The njcep site has a calculator that's pretty handy to figure your costs. |
melicious
Citizen
Username: Melicious
Post Number: 55
Registered: 6-2002
| | Posted on Tuesday, March 9, 2004 - 7:09 am: | |
I looked at the "Clean Power Estimator"
http://www.njcep.com/html/estimator_f.html
and it said I would save, like $67/annually, unless I totally don't get it (which I don't).
I think its basing it on the fact that I would need a home equity loan to get a solar system.
I still think its better, given the Co2 emissions. But 10 years is a long time to wait
for a return. We plan on being here for - maybe - 5 years.
Thanks! |
tourne
Citizen
Username: Tourne
Post Number: 320
Registered: 1-2003
| | Posted on Tuesday, March 9, 2004 - 12:15 pm: | |
Right, it takes into account paying off the loan, though I don't know if it takes into account the tax write-off for the loan. If batteries are installed for backup power, costs will be higher. Funny, though, compared to buying a new $30,000 SUV which will lose thousands in value as soon as you drive it, lasts about 5 years, is dangerous and pollutes our childrens' planet, most people will waste money on the SUV. On the other hand, a solar electric system will last 50 years, grow in value as electricity rates rise, and could even save your neck in an electrical outage or disaster. |
Handygirl
Citizen
Username: Handygirl
Post Number: 17
Registered: 2-2004
| | Posted on Wednesday, March 10, 2004 - 10:07 am: | |
No SUV for me man, but you make an excellent point Tourne.
Handygirl |
wnb
Citizen
Username: Wnb
Post Number: 102
Registered: 8-2001
| | Posted on Thursday, March 11, 2004 - 9:10 pm: | |
None of these models seem to be taking into account that if you produce more electricity than you use, the electric company is mandated to purchase the excess electricity from you at market rate. (Does anyone know if this is actually true? I seem to remember reading it in reliable sources but never followed up). This is a potential income above and beyond the rebates mentioned. |
tourne
Citizen
Username: Tourne
Post Number: 321
Registered: 1-2003
| | Posted on Friday, March 12, 2004 - 7:59 pm: | |
Yes, it is called Net Metering. The electric company is required to buy back electricity you generate at the same price that you are charged over an annualized period. That is, over a years time, they will buy your electricity at your rate up till your bill is zero. If you produce more in one year than you use, than they will buy the excess at a wholesale rate--ie. something much less than you are charged. Therefore, it probably does not make sense to install a system any bigger than you need to offset your own use. You could also sell the Greentags(clean energy credit) that is associated with your system. This could get you $500 per year plus, every year, extra. See www.mainstayenergy.com. |
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