Roof Power, Inc
Roof Power, Inc
RoofPower, Inc
RoofPower, Inc
RoofPower, Inc
Utility Savings No matter how much of your energy you choose to offset by installing solar panels, that reduction in energy usage will be translated directly into reduced utility bills. In most cases, PV systems are grid-connected; if your PV system is producing more energy than you are consuming (which is often the case during summer months) that surplus energy is fed into the grid, rolling your meter backwards, and earning you credit. At the end of the year if you have consumed less energy than you have provided to the grid, your utility company will pay you. Or, in the case of indefinite carryover, you may be able to build up a storage bank in the summer that can cover your winter electrical usage.
Increase in Property Value
According to the Appraisal Journal, the selling price of a home or business increases by $20 for every $1 decrease in annual utility bills. For example, a homeowner with a 3.6 kW system installed on their residence saves $530 annually on utility bills. This leads to an immediate home value increase of $10,600! It can be argued that once you install a $6,000 PV system on the roof of your business, the building value increases just as it would with any other improvement project.
Return on Investment
Return on Investment (ROI) is the benefit a person reaps from an investment divided by the initial cost of that investment and is expressed as a percentage. The benefit with a solar PV system includes the utility savings and any payments a person may receive from surplus production. The initial cost includes all the components associated with buying, installing, and connecting a solar PV system. An investment in solar energy generally has a 1-year ROI of around 5% and a 20-year ROI of anywhere from 300% to 500%!
Energy Security
By installing a solar photovoltaic system on your home or business, you become an energy producer and increase your energy independence and security. You will be less affected by volatile energy prices by locking in at today's utility rates. If desired, batteries can be installed to back-up a photovoltaic system so in the case of an electrical outage, stored power can still be supplied.
Environmental Benefits
Photovoltaic systems are quiet and clean, producing energy with no emissions. Just one kilowatt of solar power is the same as planting 50 trees. For every kilowatt hour produced by clean solar energy as opposed to dirty fossil fuels, the release of
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