Wilton Go Green & Energy Commission Aim to Bring 'Solarize CT' to Wilton

From Wilton Go Green:

More and more people across Connecticut are powering their homes with help from the sun. And for good reason; solar energy benefits both homeowners and the environment. Clean, renewable energy systems, such as solar photovoltaics (PV) and solar hot water, are reliable ways to lower energy costs, protect your health, and create
a more sustainable world for future generations. And now, they’re affordable as well.

The past few years have seen a significant decrease in the cost of solar panel arrays. Attractive incentives, tax credits, financing options, and programs, such as Solarize Connecticut, make solar energy an affordable option. For example, the cost to purchase a 7,000-kilowatt system -- the size recommended for the average Connecticut residence -- is about $28,000. Factor in the $7,000

rebate offered by the state and a 30% tax credit from the U.S. federal government, and the investment drops to $15,000.

The three most common methods of financing are a cash purchase, solar lease, and solar loan. Owning your own solar system is an investment in your home that can increase your real estate value by an average of $17,000, according to the U.S. Department of Energy’s Lawrence Berkeley National Laboratory report. Unlike electricity rates, solar rates never rise, and once the system has paid for itself, the electricity it generates is free. In fact, many people experience a 50% reduction in their electric bill, a substantial savings over the 25-30 year lifetime of a quality system.

Leasing allows homeowners access to solar energy for a monthly fee and little or no down payment. Most systems require minimal maintenance, however, should your system need service, the solar experts affiliated with your leasing company will provide it free of charge. Most leases require a 20-year commitment, so it’s important to understand the terms of your lease. Should you move, the lease can be assumed by the new owners provided they meet the lessor’s credit criteria, or you can pay the remaining fair market value of the lease and include the value of the solar system in your asking price.

Solar loans are gaining in popularity, allowing residents to own their solar systems without placing a lien on their home or assuming a home equity line of credit. Solar loans help homeowners avoid upfront purchase and installation costs, and the electric utility savings and tax credits help pay off the loan over time. Most solar loans offer a range of term lengths, providing both low payback periods and interest rates.

Solarize Connecticut works with local municipalities to provide residents with considerable discounts off the cost of a solar photovoltaic system based on economies of scale. The more homeowners who sign up for solar installation, the lower the price for all. Currently, more than 30 towns throughout the state participate in Solarize Connecticut. Wilton Go Green and the Wilton Energy Commission hope to bring the Solarize program to Wilton in the spring of 2015. Learn more at Solarize Connecticut.