Our new solar installation passed final inspection this week. Hoorah! Seeing the electricity meter running backwards for the first time was pretty exciting.

From the day we signed the contract, installation took about 8-1/2 weeks. This system is estimated to be able to cover 65% our electricity bill, with a 100% payback happening sometime in 2016.

The environmental benefit is equivalent to reducing greenhouse gas emissions by 7,050 pounds (3.5 tons) per year, or planting 1.2 acres of trees. When I did my own calculation using DOT numbers adjusted for our two hybrid vehicles, it’s the equivalent of NOT driving 19,012 miles per year. That neatly works out to be about how much we drive yearly.

A couple of more ways to look at this financially: the rate of return on over a 15-year period is 11.8%. Comparing this to current and foreseeable investment yields was a major positive. Also, there are rebates and tax incentives, the most impressive being the federal 30% tax credit. A tax credit comes off your total tax bill, not your adjusted income. So, assuming you’re in a 25% tax bracket, a $1000 tax credit is the rough equivalent of a $4000 tax deduction.

Whenever we have major work done, three bids is a must. In our case, only one company got up on the roof to take actually measurements. Putting the panels on the garage is as good as on the roof of the house, since passive solar water heating is already there. (The garage has panels on the eastern side as well.)