Solar in the Snow
But the electricity savings are just one part of the economic incentives to go solar. State legislators passed a law that mandated that by 2021, eight percent of the energy sold must come from renewable sources, and 0.5% must be from solar. In May of 2009, a program was started where utility companies such as PPL and others in the state can bid on the solar produced in individual homes. Once the system has produced one megawatt, which should happen in March for this house, a renewable energy credit from the house will be auctioned off, and the price now is about $350 per megawatt.
This system is projected to produce about 5.2 megawatts per year, mostly during the very productive warmer months.
Additionally, the state set up a $100 million fund, which is rapidly being depleted, to help cover the cost of solar installations, that provided $9,240 for this system, and there are also 30% federal tax credits for homeowners who go solar.
The installer predicted that this system would pay for itself in five to seven years.