Looking for a good investment?
November 16th, 2008 categories: Grove News
Invest in Solar Powered Electricity for your home. These days it will give you a better ROI than the stock market!!
Check out these numbers, after all of the federal and state rebates, a 2,000 sq. ft. home can have solar power for a cost of $5,250.
I have been in contact with a local company here who installs solar electricity systems. Their name is BAM Solar and they have provided me with these surprising figures.
Solar Electricity / Photovoltaics (PV):
Solar Electric PV System (3kW, 450 KWH/mo) $ 24,000
FPL Rebate ($1.50/watt, $10,500 max) -$ 4,500
State of FL Rebate ($4/watt, $20,000 max) -$ 12,000
Federal Tax Incentive (30% rebate, no limit) -$ 2,250
Net Investment $ 5,250
ROI 5 – 10 Years
According to BAM, there are two ways to solar power your house.
- Traditional “Rigid Frame Solar Panels”
- Newer “Thin Film Panels”
Both are roof mounted and require Western or Southern direct exposure. For a 2,000 sq. ft. home, the “Rigid Frame Solar Panels” take up about 360 sq. ft. of roof space, and the “Thin Film Panels” take up about 885 sq. ft. of roof space.
Don’t want to spend the $5,250 for a solar electricity system, but still want to save 20-30% on your FPL bill? A solar water heating system that “pre-heats” the water (and still uses your same water heater tank) will only cost an investment of $1,960 (for a 2 adult, 2 child household) after rebates. Below is a picture of a solar water “pre-heater” for your home.
As far as solar heating your pool, the initial investment will cost you approximately $3,400 with a return on your investment in approximately 1 to 2 years depending on consumption.
You may also be interested in: The New “Green” Project on Grand Avenue, Groundbreaking Green Project on Kumquat Avenue
For more information on solar electricity, feel free to contact Bam Solar at 1(877)598-2261, or email at arasken@bampower.com.
