Solar Makes Dollars & Sense
We write this to tell you how delighted we are with the solar project installed by RGS Energy. It’s been approximately four years since going live, and all of RGS Energy’s projections have been exceeded to this point. Per the proposal received in January of 2013, projections were that the solar array would produce approximately 80% of our usage. As we push through the summer months of high usage, pool and AC usage, my National Grid bill is currently carrying a credit. This is amazing when you consider the amount of snow we had this winter which effected solar power generation dramatically.
The system to date has generated 30,340 KW hours, while my current net meter from the grid is at 5385 KW hours. Our system has produced an incredible 85% of our entire usage.
I would be remiss if I didn’t mention how easy the folks at RGS made the process.
The process was explained clearly and was on the mark.
RGS filed all applications for the RI State grant which took 25% off of our out of pocket expense.
Installers were professional and neat with very limited visibility to wiring on the outside of our home. The install took approximately one week and all inspections were handled by RGS.
The RGS folks demonstrated the online monitoring system through Enphase, which gives you real time production stats and reporting, all while monitoring the system’s efficiency.
At the current rate of power generation, we are predicting a return on our out of pocket investment of less than eight years, RGS estimated conservatively 12-14 years. In addition to paying for itself through National Grid savings, the system has added an estimated $15k (refinance appraisal in 2015) to the appraised value of our home which is more than our total net out of pocket expense for the system. We plan to be in the home for the next five years, so with the system paid for through grid savings, the additional equity will be all ours.
The Addessi Family
Cranston, Rhode Island