SOLAR AMBASSADORS: Scott and Morgan LaRue
With 65% in federal and state incentives, the net cost of our PV system was $21,087. The appraiser is now valuing the PV at $30,000… already a great investment!
The decision to install a PV system is most often considered in the context of reduced utility costs and environmental impact as well as long-term financial predictability and stability. Another benefit to solar that is often overlooked is the value of the home improvement from a real estate perspective. Adding solar to your home is one of the best investments you can make in a property.
System Benefits
- Saving $309 per month
- Offsetting 24 barrels of oil per year
- Will reduce CO2 emissions by 343 tons over 30 yrs, equivalent to planting 6 acres of trees or not driving 1,100,000 miles
- System will pay itself off in five years
Project Overview
- Location
- Kailua
- System Size
- 8.05 kW
- PV Area
- 644 sq. ft.
- № Panels
- 46
- Panels
- SunTech 175W
- System Price
- $60,249
- Federal Tax Credits
- $18.075
- State Tax Credits
- $21,087
- System Cost
- $21,087
- Break-even Time
- 5YR
25 Years Free Electricity
Appraisers and real estate professionals recognize that solar power systems increase property value by decreasing utility operating costs. When the LaRue’s refinanced their home after installing a Sunetric PV system, their appraisal documents included a $30,000 adjustment for solar. Considering the net cost of their system after tax credits was only $21,087 Scott and Morgan realized nearly $9,000 in profit just for installing solar! Plain and simple, installing PV not only saves you money and reduces your environmental impact, but it also adds significant equity to your home.
Gain $20,000 in equity for every $1,000 you save on electricity.Historic mortgage costs have an effective after-tax interest rate of about 5%. So, if $1,000 of utility savings is put towards loan payments at 5%, that money can support an additional $20,000 on a home loan. To the bank, your total annual cost of home ownership is identical—whether you are paying for electricity or paying for your mortgage, your net expense stays the same.
SCOTT & MORGAN are Saving $3,700 Per Year!
You Could Too! Call Sunetric Today: 262-6600
