Rooftop solar initial cost
What is the trustworthy dollar figure, as an initial cost, for 8 kW rooftop solar system in MD?
It is 8,000 watt X $3.8 per watt = $30,400 (on the high side) (1) (2)
What are the other two down payments (in addition to the premium of sale of $13,321 ? (please see my post of 8/24/22)
They are
Maryland Rebate (3) =$1,000
Federal Tax Credit (30% of System cost) (4) =$9,120
The cost of ownership is simply:
$30,400 - $13,321 - $1,000 - $9,120 = $6,959 (5)
You will be surprised by the result of the calculations of the ROI of solar installations in the forthcoming posts.
(1) Type in Google search: " Tracking the Sun , 2021 Edition PDF" Page 2
(2) Average cost in Maryland is $2.84 per watt.
(3) Go to ww.programs.desire.org - Apply filter - Select MD - go to Residential Clean Energy rebate.
(4) Go to the same website as in (3). Go to filter and select Financial incentive from Program type. Select Personal Tax Credit. Select Residential Renewable Energy Tax Credit. Applicable immediately as per IRA.
(5) After 4 years of installation.