4.7KW Solar Panels In New York, Only 7 Years ROI
One of the most interesting solar panels systems in the ThetaNoon directory is a 4.7KW system located in Guilderland, N.Y. As we explained in our last post, solar panels systems are quickly becoming a viable financial investment. The Guilderland system is a great example of how, due to lower manufacturing costs and better incentive programs, solar energy can make sense, with an ROI period of 7-10 years.
The system owner describes his investment process:
“We have 26 Kyocera 180W solar panels (4680W rated max) and a Fronius IG-4000 inverter. The system is net-metered. We qualified for a NY state incentive program that paid for 50% of the total system up front, plus an additional $7000 in state and federal tax credits. The combination of all incentives brought our out-of-pocket expense down to less than $13,000, which we expect to recover in 7 to 10 years, given our production and local utility rates. We had the system installed by Renewable Power Systems, a local NY-State certified installer, in October 2006. To date, it has produced nearly 9665 kWh. The installation went very well, and the system went live in December 2006 (with the delay due to our utility approval process)”.
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