Economics of Electrical Solar Power Systems
With so many important electrical loads in home these days having a reliable source of emergency power is becoming more critical. Refrigerators, freezers, sump, sewer, and well pumps, cordless phones, home medical devices, alarm systems, and many other important devices all need electricity to operate. Solar electricity can be a great alternative to a generator to power these devices in the event of a power outage. Solar power is clean, quiet, and requires very little maintenance. In fact, a solar back-up system can actually make you money when the power is on. As long as the sun is shining, your solar panels can be putting electricity back on the grid, reducing your electric bill.
Solar electric technology can be expensive. In some instances, like a remote, off-grid home or cabin, the choice to go solar is obvious. In a home that is already connected to the commercial power grid there are more things to consider. A cleaner environment, the security of emergency power, partial or full independence from the power company, the novelty of generating electricity from the sun, and other factors make the case for installing a solar system. Thanks to many recent developments the economics of solar power are improving in Virginia.
Electricity in Virginia is cheaper than the national average, but has gone up as much as 17% recently. Also, Virginia has recently announced a state rebate program that provides $2,000 per kilowatt of system. The Federal government offers a 30% tax credit towards the installation of a solar system. Huffman Electrical Systems can also put our solar customers in touch with a broker, Sol Systems, LLC, who buys Renewable Energy Credits. This can amount to additional income of hundreds of dollars a year depending on system size. This is the Sol Systems contract for you to review, if you are interested (337KB PDF).
Taking all these incentive into account can allow a solar electric system to pay for itself in as little as 6 years. In a way, a solar electric system can be seen as an insurance policy against higher utility rates. We have seen some customers, who don’t want to invest in the stock market or real estate at the present time, decide that investing in a solar electric system is their best option. If we know anything about electric rates we know they will rise.
Solar systems are very modular in nature. We can literally build one any size, from 1 solar panel to over a hundred. It all depends on the needs, space, and budget of the customer. For most residential systems $8,000 is the minimum cost of a small, turnkey system. A complete system for a large off-grid home could cost up to 30 or 40 thousand dollars. In many situations this cost is less than having the utility company run lines to your location; and you avoid the monthly power bill.
If you’re considering a gasoline generator for your RV, consider instead a solar electric system to keep your batteries charged and allow for the use of all your appliances except the air conditioner. Your camping neighbors will thank you for not disrupting their camping experience with generator exhaust and noise. Most camper systems are priced competitively with a quality generator.
