Can a Solar Installation Eliminate Your Electricity Bill?
Connecticut ranks 6th highest of all 50 States for electricity costs. If the electric companies have their way (they are calling for an 18-20% rate increase), we are likely to rank even higher. Can the installation of residential solar panels set you free from those big bills? Possibly.
Fortunately, even though CT ranks a weak 42nd in sun strength, it zips up to 10th of all States on the amount of financial incentives given to homeowners who install a solar electric system. The State will subsidize 35% of a residential solar installation and forgive the sales tax. In addition the feds offer a tax credit of 30% of the net cost. That puts the out of pocket cost to a homeowner to less than 50% of the total- and a 15 year loan can be arranged to pay for that. Also, the Town will not add its value to the property tax. Several studies show that a solar installation may increase the value of a home by the approximate amount of its cost.
David Wackter, a Manchester resident who invested close to ten grand, is banking on a full payback for his cash output within 5-6 years. Wackter recently took advantage of SolarizeManchester, a cooperative arrangement between the State, the Town and ENCON, a private installer of solar systems. Wacktor appears on Manchester Review with Alex Marroquin, a solar design engineer from ENCON, and host Jack Peak. They explain how it all works - both technically and financially, and offer convincing arguments about how a residential solar installation may almost totally eliminate your electricity bills over time.The key is “net metering” which credits a homeower with excess electricity generated while the sun shines by sending it back out to the grid. In return, when electricity is needed in the home but the sun is not shining, the home can draw that extra electric energy back from the grid without cost. Solar may not be a good fit for every home (for example- you need a generally south facing roof that is not shaded), but ENCON provides a free, no obligation site analysis to interested homeowners that will tell you if you qualify.So far, 19 Manchester homeowners have taken advantage of the program. But the incentive program ends on February 20. For more information on how this works tune in to Manchester Review: SolarizeManchester Monday nights at 9 PM in January or on You Tube
Fortunately, even though CT ranks a weak 42nd in sun strength, it zips up to 10th of all States on the amount of financial incentives given to homeowners who install a solar electric system. The State will subsidize 35% of a residential solar installation and forgive the sales tax. In addition the feds offer a tax credit of 30% of the net cost. That puts the out of pocket cost to a homeowner to less than 50% of the total- and a 15 year loan can be arranged to pay for that. Also, the Town will not add its value to the property tax. Several studies show that a solar installation may increase the value of a home by the approximate amount of its cost.
David Wackter, a Manchester resident who invested close to ten grand, is banking on a full payback for his cash output within 5-6 years. Wackter recently took advantage of SolarizeManchester, a cooperative arrangement between the State, the Town and ENCON, a private installer of solar systems. Wacktor appears on Manchester Review with Alex Marroquin, a solar design engineer from ENCON, and host Jack Peak. They explain how it all works - both technically and financially, and offer convincing arguments about how a residential solar installation may almost totally eliminate your electricity bills over time.The key is “net metering” which credits a homeower with excess electricity generated while the sun shines by sending it back out to the grid. In return, when electricity is needed in the home but the sun is not shining, the home can draw that extra electric energy back from the grid without cost. Solar may not be a good fit for every home (for example- you need a generally south facing roof that is not shaded), but ENCON provides a free, no obligation site analysis to interested homeowners that will tell you if you qualify.So far, 19 Manchester homeowners have taken advantage of the program. But the incentive program ends on February 20. For more information on how this works tune in to Manchester Review: SolarizeManchester Monday nights at 9 PM in January or on You Tube
Information can also be obtained on line at http://solarizect.com/our-towns/manchester/ or by calling (203) 375-5228.
Comments and questions are welcome at manchesterreview@gmail.com
