Solar Energy Myth Busters: Why You Should Invest

Julie Jones wrote: In my quest for continuing education in living “Green”, I discovered an article written on Solar Energy and the positive rewards for taking that leap into energy change. (I’m reminded of Sesame Street’s Kermit the Frog singing, “It ‘Aint Easy Being Green.) Here’s an opportunity to change that myth.

Robert Alcock is the founder of GREEN Building Products. His company is local and is fighting climate change through building efficiency products and renewable energy systems. Robert believes the basic problem in the world of home energy productions systems is that most people don’t know much about them.

Robert insists you can’t compare the cost of a home-based solar energy system to your FPL (or local power) bill, because there is no comparison. He likens the contrast to buying a car vs. a bus ticket.   Inquirers usually want to know the costs and payback for their investment. He believes where a power bill is a liability, a solar power system is an asset. Here are some facts:

A good-size solar energy system (typical for a 5KW system) is about $50K. Payback is about 12 years. (Payback from an industrial power plant is decades.)

Also, look at the cost benefits of such a system, based on California–the US’s most mature solar market:

1. The state of Florida offers a renewable energy rebate of $4/watt. This equals $20,000.

2. The Federal government offers income tax credit of 30% of the system. (Approx. $15,000 based on type of accounting.)

3. Value of your home/building increases by approximately 120% of the value of the system ($60,000).

So, basically, after the initial investment of $50,000, best case scenario for the effective cost of the solar system could be earning up to $45,000 back in rebates and tax credits—or worse case scenario, the cost of the system amounts to $15,000 with values and credits.

These numbers do not factor in savings on energy bills, reduced heat absorption to the roof, resale value of the home, and the priceless value to our environment.

So, check your roof space, think over your options and best of all, calculate your years of bills paid to your local power company and ask yourself, shall I continue to invest in my local power company, or shall I invest in my own home?

Robert Alcock is available for further questions at ra@greenbuildingproductsfl.com or 954-270-1754.