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Residential Solar PV
What it costs
A solar PV system provides the following economic benefits:
- With state and federal incentives, most systems pay for themselves within 4—12 years
- You will reduce your electricity bills by hundreds or thousands of dollars annually
- A solar PV system will hedge the impact that rising energy costs have on your budget
- Adding a solar PV system to a home increases resale value, by at least half the cost of the entire system
Here is a sample residential solar PV system:
| Cost for Solar System (6kw) | |
Equipment Costs + Labor |
$ 45,000 |
Permitting |
$ 1,000 |
System Cost Before Rebates and Incentives |
$ 46,000 |
Less Federal Tax Rebate (30%) |
$ 13,800 |
Total System Cost AFTER Rebates and Incentives** |
$ 32,200 |
| Key Numbers at a Glance | |
Estimated Annual Utility Savings |
$ 2,000 |
Estimated 20 Year Savings |
$ 40,000 |
Estimated Annual CO2 Reduction |
5.65 tons |
Property Value Increase |
$ 22,500 |
** Does not include property value increase
