From placement on our cars to power fans while we are away to our homes to provide relief from rising energy prices, photovoltaic solar panels are becoming trendy.
Ben Cuker, a homeowner in Virginia, discovered the value of a solar system this summer. In June 2008, his electricity bill was $340. This summer, he has spent $131 total (June, July, and August).
The intial investment of $19,000 was not cheap, but with the 30% federal solar rebate, which saved Ben nearly $6,000, the system should pay for itself in 10 years. The photovoltaic solar panel system also increases the home value. According to "Real Estate Appraisal Association", for ever $1 of electricity saved, the home value increases by $20. To recover the $13,000 Ben spent on his photovoltaic solar system, Ben needs to save $675/year in electricity.
But this does not account for all of the additional benefits of the photovoltaic solar system. He is protected from blackouts and rising energy prices (which will increase his return on investment). In addition, he can sleep easy knowing that he is doing his part to curb global warming.
Rich Hessler
Clean Family Energy
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