When we look at solar panels for homes, there is a lot to think about.
For one thing, there is the cost of a solar power house. Although the cost of solar panels has come down significantly in recent years, installing a solar electric system is still not cheap.
The total cost of your solar roof will have a lot to do with where your house is located. A state like California has rebates and grants available at the local, county, state, federal, and utility level. Other U.S. residents will only be able to access the federal solar rebate.
This could make a huge difference in your ‘payback period’ (the amount of time it takes to break even on your solar panel investment).
Speaking of payback period, what about the ‘holy grail’ of the residential solar power world: Earning profits the day you install your solar panels?
This is obviously a very appealing idea to a lot of people and it is actually possible with new financing options that are available today.
There is the SolarLease option from SolarCity which can start saving you money the same day you install your solar electric system. Other companies are also coming up with similar leasing arrangements that will make solar power immediately profitable.
By taking a closer look at a Canadian solar firm called Pure Energies, we can get a better understanding of how such an arrangement can work.
Pure Energies has come up with a creative way to make use of the Ontario government’s new Green Energy Act which pays homeowners 80.2 cents for each kilowatt-hour their solar panels pump into the provincial grid.
By working with homebuilders, Pure Energies has been able to provide entire subdivisions with solar panels. Dealing in volume keeps costs low and allows homeowners to begin earning immediate money from the solar power panels on their roof.
How much can a person earn with solar panels for homes?
If the homeowner has enough roof space to install a 10-kilowatt solar system, they can earn about $1200 per year. Now that might not be enough to make someone rich, but look at the bright side:
- It doesn’t cost you a cent
- You have no maintenance to worry about
- You’re using your roof to produce clean energy
On top of all this, you get to keep the solar panels at the completion of the twenty year contract. As all you solar aficionados know, solar panels can produce power for over fifty years. That’s a lot of bonus power for you!
This is a win-win-win situation for everyone involved. Pure Energies gets to install a lot of solar panels for homes, the homebuilder is able to offer people an eco-friendly option, and the homeowner has a source of income for twenty years.
As Hannibal used to say on the A-Team: ‘I love it when a plan comes together’.
So, cheers to the Pure Energies team for their creative thinking that allows Ontario residents to earn solar money from day one. Hopefully they will inspire similar solar solutions in other regions.