October 25, 2014
By the numbers: Paying for solar energy at a home or business

Photo:

Green Trends

By the numbers: Paying for solar energy at a home or business

How long does it take to break even?

Lilly Rockwell | 11/4/2013

RESIDENTIAL
Solar-powered water heater (2,900-sq.-ft. home in St. Petersburg)

COST
» Purchase price: $4,750
» Federal tax credit: ($1,425)
» Duke Energy residential solar water heating program: ($550)
» Net cost: $2,940

SAVINGS
» Average utility bill savings per month: $80
» Months to break even: 37

Note: The more people in your home using hot water, the quicker your return on investment. The best ROI comes from four-person residences.
Source: Solar Energy Management

 

RESIDENTIAL
Photovoltaic solar roof (2,100-sq.-ft. home in St. Petersburg)

COST
» Purchase price: $34,000
» SunSense rebate: ($20,000)
» Federal tax credit: ($4,200)
» Net cost: $9,800

SAVINGS
» Average utility bill savings per month: $157*
» Months to break even: 45.6 (3.8 years)*

*Savings take into consideration energy bill inflation
Source: Solar Energy Management

 

COMMERCIAL
Photovoltaic solar roof (380-room beach hotel)

COST
» Purchase price: $500,000
» SunSense rebate: ($130,000)
» Federal tax credit: ($111,000)
» Net cost: $259,000
» Depreciation: ($147,528)
» Cost after depreciation: $111,472

SAVINGS
» Average utility bill savings per month: $3,623
» Months to break even: 38.4 3.2 years)*

*Savings take into consideration energy bill inflation
Source: Solar Energy Management

Tags: Energy & Utilities, Environment, Housing/Construction, Real Estate, Technology/Innovation, Green Trends

Digital Access

DIRECT DIGITAL ACCESS
Add digital to your current subscription, purchase a single ditgital issue, or start a new subscription to Florida Trend.

TABLE OF CONTENTS
An overview of the features and articles in this month's issue of Florida Trend.

ACCESS THIS ISSUE »

Florida Business News

Florida Trend Video Pick

Fabien Cousteau
Fabien Cousteau

This summer, Fabien Cousteau lived for 31 days aboard the Aquarius, an underwater research laboratory nine miles off the coast of Florida.

Earlier Videos | Viewpoints@FloridaTrend

Ballot Box

How much do you get into Halloween?

  • I'm into it - parties, decorating, theme parks, whatever I can fit in
  • I just participate for the kids
  • Boo - I keep the lights off to avoid trick-or-treaters

See Results

Ballot Box
Subscribe