07/02/2019
Subject: Solar Year 1
Recap of my solar experience over the last year -
My system:
Installed: May 29, 2018
Bi-directional Meter Set on June 25, 2018 (this is my true anniversary date)
System Size: 18.900 kw, 54 panels, IQ6 Micro Inverters, Enphase Envoy-S Monitoring System
Cost of System $52,000
Tax Credit $15,600
Net Cost $36,400
At time of install, I was spending $3,320 per year on electric, consuming 22,808 kwh. This was pre-spray foaming the roof line.
System was designed to provide 94% of our power needs, we did some energy saving enhancements which we hoped would allow the system to provide 100% of our needs.
Estimated to Produce: 21256 kwh
Guaranteed to Produce: 18067 kwh
System Actual Produced: 21727 kwh
House Consumed: 19295 kwh (this includes the electric needed to generate the solar, which I estimate at almost 3,300 kwh of this)
Over that year, system generated 21.7 SRECs and have sold them at an average price of $219 for income of $4752.
The extra energy produced over our consumption will be paid back to me but I anticipate that it will be pennies on the dollar (hence the reason to never over build a system, design it for what you use).
If I factor out the energy required to produce the solar, by adding spray foam, we reduced our energy consumption 6,813 kwh (or 1/3 of our total elect consumption).
So for year 1 – total savings and income = $8,072 which is in line with a 4-5 year payback. If I stay in this house indefinetly, the SREC’s continue for a total of 15 years, and energy savings would continue beyond that.
