How much does a typical PV system cost?
System prices vary. They are unique to each customers home or business. Module locations and electrical conditions will vary.
An average sized system of 5 kilowatts offers a savings of 75% with the following rebates and tax credits. |
| System Cost |
$30,000 |
|
| LIPA Rebate* |
- $8,750 |
|
| NYS Income Tax Credit |
- $5,000 |
|
| Federal Energy Income tax Credit |
- $6,375 |
|
| Total Incentives |
$20,125 |
|
| Final Actual Cost |
$9,875 |
|
*Subject to change
The federal Stimulus Package (FEB. 09) may significantly increase and/or expand this incentive. Consult your tax professional regarding income tax credits.
LIPA electric prices will continue to increase as fuel does (on average of .5% per year) which in turn reduces your payback time. Most importantly the price of electric generated by your solar electric system will never increase.
All Systems Include
10 year manufacturers warranty on inverters
25 year manufacturers warranty on modules
All LIPA rebate application paperwork
All electrical work to be GRID connected
Inspection by both LIPA and Underwriters
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Net Meetering
A typical system will pay for itself in less then 6 years. You capture all the power your system produces. Excess power is returned to the GRID turning the meter backwards, creating a credit.
Savings
The largest system LIPA will fully rebate is 10 kilowatts. This system will produce approximately $250 per month and a 5 kilowatt system will produce approximately $125 per month.
Simplicity
Systems are available in a wide range of sizes and outputs. Maintenance is minimal. The PV modules have no moving partsand new equipment can easily be added to an existing system if power requirements change.
Reliability
Systems perform in almost any environment. Panels are typically guaranteed for 25 years and can operate for up to 40 years. The panels are designed to endure extreme temperatures and high winds. They are resistant to moisture and salt in the atmosphere.
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