My 12.54kW Solar Edge system was installed at the end of May, and turned on a month and a half later. We decided to go solar because reducing the cost of our electric bill with this natural resource is a no-brainer.
The thing that prohibited us from going solar initially was the capital outlay. We researched and received pricing over a 2-year period. This convinced us that we didn’t want to lease. We also wanted the array to be large enough to cover all our consumption. The co-op opportunity solved this problem.
Cost is the biggest issue most people face with the decision to go solar. We found that it made financial sense for us because we plan on staying in our home. The system will pay for itself in a few short years and after that our savings will be long term.
It is also important to make sure your roof is new, and to pay attention to your roof warranty, solar installation warranty and solar equipment warranty. These things will give you peace of mind. Depending upon where you live, you may also have to get involved with the interconnection process from your utility company. After patiently waiting for 30 days I called my utility company myself and within two weeks I they connected my system.
Our system is already producing savings. I was paying on average $179/month. I’m hoping that on an entire year of solar I should be very close to paying $0 for electricity. My first full month’s bill with solar cost me approximately $8 which was only for electrical distribution charges. I generated so much power that I have a 72kWh credit carried forward to next month. I’m using this savings to pay off the capital outlay – that is in addition to my SRECs, 30% federal tax rebate, $1,000 state rebate, and hopefully $5,000 county rebate. It’s very exciting to know that within 6 years I will be free of a utility bill.