Aug 21, 2014
(the rest of the answer) ...installation.
Income from the FIT program for the first install was:
2011 - $5,727
2012 - $6,052
2013 - $6,176
2014 - $4,761 (through July)
The 2010 system cost $55,000, but the income tax credit was $16,500 so the net cost was $39,500. Projected payback will be in seven years.
We installed a second set of forty solar panels in 2012 and enrolled them in another fifteen year FIT program. The 2012 FIT program for the second install pays 30% less than the first, but the installed solar panel price had also decreased 30%.
The success of the solar program is dependent on the electric company supplier. We were fortunate to have PGE’s encouragement on how to develop both our roof top solar panel generation systems.
We used the same contractor, RS Energy, LLC, to design and install both systems.