Multiple studies by Lawrence Berkeley National Laboratory (LBNL), a research laboratory funded by the U.S. Department of Energy, have shown that solar can improve the value of your home.
• Cut down on rising month-to-month electricity bills and maintenance.
The money saved could be used on other investments for a more desirable lifestyle.
Here’s an example for a 6.00 kW DC solar energy system in Cambridge, MA that produces about 6,300 kWh per year: The total installation cost for a system of this size, including panels, labor and all related costs, was about $19,800. After receiving a federal tax credit of $5,940 (30% of the total cost), a state tax credit of $1,000, $1,282 in electricity savings, and $1,209 in state incentives called SRECs, the effective cost in the first year was only about $10,369. The system will pay for itself in five years.
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