Solar Power for the Home Is a Tough Sell

With a $2,000 federal tax credit and generous rebates from states like New Jersey and California, it has never cost less to install a solar power system.

And it still makes no economic sense. You might want photovoltaic solar panels to generate your own electricity out of a belief that you will save the planet. But, as is the case with hybrid vehicles, you certainly should not do it to save money.

An online calculator (www.findsolar.com/index.php?page=rightforme) created by solar power advocates and the Department of Energy demonstrates just how hard it is to justify the switch.

For instance, a homeowner in New Jersey whose electric bill is an above-average $100 a month could buy a system for about $54,000, it says. After the state rebate of $18,468 and the $2,000 federal tax credit, the system would cost $33,532.

And how many years will it take before you see any savings? From 11 to 22 years. The average payback is 14 years, said Polly N. Shaw, a senior regulatory analyst with the California Public Utilities Commission.

More info:  New York Times

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One Response to “Solar Power for the Home Is a Tough Sell”

  1. Bart Says:

    I love solar power I think over the next few years it’s going to be exploding even more… as performance of solar panels goes up people are going to be adopting it everywhere they can… after all it’s free energy 🙂 BTW here is more solar power information -> Solar Power

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