Keith B., Rehoboth, MA
I got my first bill already-the system has been working for two weeks-and it was cut in half. I’m expecting not to pay anything to National Grid because I’m producing more electricity than I’m using. I’m going to pay for the loan I took to finance the system, but the SREC’s (solar renewable energy certificates) I’ll receive will pay for two-thirds of my loan payments.
The cash I put down was about twenty five percent of the cost of the system. Next year, I’m getting back all of that money through federal and state tax incentives. In fact, I’m getting back more than I put out. Plus my loan payments are covered by the SRECS. So, it was never about figuring out if I could “afford” solar; it was clear that it would be stupid not to.
I’ve already referred Bay State Solar to several people. If you’re considering solar, I suggest buying over leasing. If you buy it, you’ll receive the most value, especially in Massachusetts. They make it very easy to buy solar here. I’m getting about a twenty percent return on investment with this system. The stock market right now doesn’t give you anywhere near that high of a return. It makes a lot of sense, and I really liked working with Bay State Solar Solutions.
Panels: LG 300 N1C-G3
System Size: 7.2 kW
Inverter: Solar Edge 6000 A-US
Racking: Ground Mounted with Axis Tracking